Saturday 24 March 2018

Unfinished coastal estate for sale in lots

Some of the detached homes on the development
Some of the detached homes on the development
An overhead shot of the site at Hookless, Fethard-on-Sea

Donal Buckley

A development of 68 houses at various stages of construction, together with 56 acres at Fethard-on-Sea, Co Wexford, is being offered for sale for less than €1.05m.

Prospective purchasers are being offered the option of buying Phases 2, 3 and 4 of Hookless Village in lots.

Lot 1 consists of the 68 houses on 15.8 acres which has a €750,000 guide price.

Lot 2 consists of the entire with the purchaser of lot one being given the option to acquire the additional 40.3 acres of agricultural lands at a price of €8,000 per acre. The farm land is in two blocks and has been tilled.

Mainly detached and semi-detached three bedroom houses, nine units have been completed and await connection to services.

A further 22 are generally at second-fix stage, four are generally at first-fix stage and 33 are in shell form with roof, windows and doors.

Set on a cliff site, above a sandy beach on the south east coast, Hookless Village is a coastal development and 42 houses have been sold over the years.

Two of the sales were in the last 12 months for around €100,000 each, which suggests that when the remaining houses are completed they could be worth around €6.8m.

Joint agents Colliers International and PN O'Gorman Auctioneers have set 27 November as the closing date for public tenders on the instructions of receiver Tom Kavanagh of Kavanagh Fennell.

Originally planning permission was granted for 110 units. Local authority contributions of about €600 per unit are due for each unit included in the sale.

The receiver has set up a management company for the 68 houses and this is separate from Fethard Holiday Village Management company which controls the common areas for those units which have already been sold.

A portion of the 15.8 acres of land has been reserved for the upgrading of the treatment plant and this separates the two blocks of farmland.

Set on a cliff-side overlooking the Saltee Islands and Hook Head Lighthouse, the village adjoins Sandeel Bay beach.

Dublin is 155km, and Wexford Town 56km. The Hook Head peninsula is recognised as one of the most unspoilt areas of Ireland. There are numerous beaches as well as a harbour from which to facilitate fishing and sailing activities.

Indo Property

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