Edition (e.g Autumn 2020) | The Southern Star | Magazine Title
PROPERTY AUTUMN 2021
WEST CORK
NOW is the time to make the move! Properties for sale and rent Commercial and agri | Dream homes
The guide to to property propertyin inWest WestCork Cork TheSouthern Southern Star’s Star’s guide 1
Property West Cork | The Southern Star | Autumn 2021
OUR LEGAL & ADVISORY TEAM IN WEST CORK advise our clients on a range of areas including the purchase and sale of residential and commercial properties. THE SERVICES WE PROVIDE INCLUDE: PRIVATE CLIENTS • Agriculture Law • Employment Law • Family Law • Medical Negligence & Personal Injury • Succession Planning • Wills & Enduring Powers of Attorney
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Autumn 2021 | The Southern Star | Property West Cork
Welcome! In this, the second instalment of The Southern Star’s Property West Cork supplement for 2021 there is a wide array of properties to whet the appetite of those considering the move to West Cork, those looking to buy a second property or even those already in the area but looking to move a step further up the property ladder. We have some great advice if you are considering investing in commercial property and there’s a sneak peek around some of the more up-market ‘dream homes’ available in the area at the moment. We will be promoting the print and digital editions of Property West Cork to potential buyers in West Cork, the rest of Ireland and overWEST seas, to showcase our area as a CORK N O W is the ti wonderful place to buy a property. me to ma ke the mo For more news on properties for ve! Propertie s for sale and rent Commerci sale in West Cork, see The al and ag ri | Dream homes Southern Star’s weekly Homes & Property section, southernstar.ie/property and our various social media platforms.
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PROPERTY
AUTUMN 202
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Enjoy! The Southern Star team
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FRONT COVER: Baywood, Rushanes, Glandore. Selling agent Charles McCarthy, Skibbereen. For details see page 12. For more properties currently on offer via Charles McCarthy see pages 6 and 7.
One of the largest law firms in West Cork
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Property West Cork | The Southern Star | Autumn 2021
Make the move! Have you ever dreamt of relocating to West Cork? Well, now might just be the perfect time, writes Niamh Hayes THE last year and a half has woken us up to the fact that life is short, and everything can change in the blink of an eye. So rather than waiting for the right time, which doesn’t really exist by the way, it’s time to bite the bullet and go for the things you’ve always wanted. And if one of those things is a move to West Cork, start packing as there is no better time to do it. While demand for property in the area has gone up since the pandemic, prices are still comparatively keen though, and this demand also means that some really prime properties in top locations are coming on the market all the time. Simply check in with any or all of the local estate agents who will be happy to help you find the home of your dreams. One thing that should be noted – there’s something of a stereotype about all the best West Cork properties being by the sea. Yes there’s definitely an element of truth to this, but it’s also an undeniable fact that there are some truly wonderful homes in extremely favourable and well-serviced locations inland too. While you might find yourself trading a sea view for rolling green fields or the shelter of picturesque hills, or maybe you just need easier access to an urban centre, the reality is you’re never really that far from any of the above in wonderful West Cork. The scenery, the people, the amenities, everything about the place oozes beauty. While visiting every now and again is one thing, imagine getting to experience that
lifestyle every single day of the year. There’s a good chance you’ll wake up each day, open the curtains and think you’re dreaming. West Cork is famous for its rural areas. Miles and miles of clean countryside and idyllic stop-offs – both coastal and inland
sate your desires. If on the other hand you want the quieter lifestyle but don’t want to be completely isolated, the towns and villages in West Cork are full of life, characters and amenities, and are perfect for young and old. Then you have the islands, which are
There’s a good chance you’ll wake up each day, open the curtains and think you’re dreaming – mean you could drive for hours and still be in awe at the beauty and splendid isolation. Historic sites of interest, woodlands, hiking trails and endless cycling opportunities are among the myriad leisure options, and many of which are available year-round at no cost. Imagine not having to put the bike on the back of the car to get to your favourite route – instead you just saddle up outside your own back door and you’re off … magic! If you want to escape the noise of a big city, West Cork certainly has plenty of space and calm to
a completely different experience again, but one that appeals to so many. A quick boat trip will get you to some of the most beautiful, secluded spots in Ireland, which have become home and inspiration to many wanderers. Most are really accessible but offer an extra level of privacy and relaxation. Some big sales in recent years have proved the high esteem and desirability of West Cork’s island homes. If you do need to keep the big city within range, or perhaps more specifically, transport hubs such as the train sta4
tion or airport, it’s amazing to think that just a short drive up the road from your dream hideaway and you’re in the thick of it again. And don’t forget, broadband connectivity is improving all the time and as has been demonstrated over the past year and a half or more, remote working from the furthest reaches of West Cork is a very real and tangible option now. One minute you’re talking to clients in Germany, next minute you’re walking up the village for an artisan brunch or taking a refreshing dip in the ocean. Talk about the best of both worlds! And even if working from the house isn’t for you, there are now numerous digital hubs offering very affordable remote working spaces and hot desks, including The Ludgate Hub in Skibbereen, Brookpark Business Centre in Dunmanway and Bantry Bayworks, all with facilities typical of any office, and of course, highspeed internet. But you don’t have to be working from home to relocate to West Cork. The towns and villages are full of businesses providing employment in lots of different sectors, from artisan food production to worldwide telecommunications services, healthcare to high-tech pharmaceuticals and pretty much everything in between. A number of big companies have opened up in industrial parks around West Cork, and then there are so many opportunities with local and international companies based in Cork City or the surrounding areas, all
Autumn 2021 | The Southern Star | Property West Cork
of which are within easy commutable distances of West Cork. For families thinking of relocating, West Cork is a great place for kids to grow up. Pre, primary and secondary schools are dotted in towns and villages across West Cork and there are even third-level and return-to-education options with the likes of West Cork Campus in Skibbereen. And don’t forget that nearby Cork city is host to the world-famous University College Cork, Munster Technical University (formerly CIT) and a host of other third-level education options. There is every type of after-school activity you can think of, from sports clubs, dancing and drama, to music, arts, crafts, water sports, computer coding, cinemas, horse riding – you name it, West Cork has it. Who knows, your child might be an Olympic medal-winning rower or athlete in years to come – we already have the medals to prove it’s possible! But at the most basic level West Cork has some fantastic big open spaces where the kids can just run around or kick ball with their friends. And it’s not just the kids that will enjoy life in West Cork, there is so much for adults to do too, such as joining a community group, sports team, or experiencing the many festivals, events and gigs held throughout the year. There is a reason many artists, writers, musicians and other creative people choose to live in West Cork. It is full of inspiration, calmness and peace, perfect for anyone who is looking for that extra something. If you are looking for a simple life, away from the hustle and bustle of highly populated areas, with plenty of fresh air, space, inspiration and opportunity, West Cork might just be the perfect place to relocate to. What are you waiting for?
Main image: Looking west from Seskin Hill over Bantry Bay. Clockwise from above left: At the Beacon near Baltimore, looking towards Sherkin Island; Castledonovan near Drimoleague; Barleycove beach on the Mizen Peninsula. 5
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Property West Cork | The Southern Star | Autumn 2021
Bawnlahan – By the beach Enjoying an enviable coastal position, set on c. 1 acre of superb gardens. Well appointed accommodation with many notable features.
AT A GLANCE ... SUMMARY Detached coastal residence overlooking Tragumna Bay. 3 Bed 4 Bath c. 2,500 sq ft LOCATION Tragumna, Skibbereen SELLING POINTS Views over Tragumna Bay, Wonderful grounds, Proximity to coastline ASKING PRICE €845,000
FIND OUT MORE ... Contact Charles McCarthy Estate Agents +353 28 21533 www. charlesmccarthy.com
Derrygareen – Charming & convenient AT A GLANCE ... SUMMARY Charming detached residence adjacent to the Ilen River. 2 Bed 2 Bath c. 1,360 sq ft LOCATION Derrygareen, Skibbereen SELLING POINTS Close to town, Bright & airy accommodation, Adjacent to Ilen River ASKING PRICE €265,000
FIND OUT MORE ... Attractive property surrounded by mature trees & gardens offering a great sense of privacy while only a short drive from Skibbereen town.
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Contact Charles McCarthy Estate Agents +353 28 21533 www. charlesmccarthy.com
Autumn 2021 | The Southern Star | Property West Cork
10 great reasons to relocate to West Cork ... at a glance! 1. It boasts a huge section of the world-famous Wild Atlantic Way.
2. It has 50% of Ireland’s artisan food producers using local ingredients, plus a wide and varied choice of award-winning pubs, restaurants and hotels. 3. Retail options to rival any big city. From tech to high fashion, cars to kayaks, West Cork has it all. 4. Quality properties in unmatched locations – coastal, inland, urban or rural. 5. Easy access to top quality healthcare and educational facilities. 6. Vibrant artistic and creative community. 7. Spectacular beaches, woods and islands to explore. Not to mention the wonderfully clean air and water. 8. A thriving and diverse business community with great supports for local associations, chambers of commerce and Local Enterprise Offices. 9. Strong and widespread broadband connectivity and numerous digital workspace options. 10. Last but not least – great people who will be only too glad to welcome you!
Cliona Lodge – Coastal & contemporary AT A GLANCE ... SUMMARY Superb contemporary property adjacent to the coast. 4 Bed 3 Bath c. 2,700 sq ft LOCATION Coast Road, Castletownshend SELLING POINTS Architecturally designed, Modern bright interior, Coastal location ASKING PRICE €425,000
FIND OUT MORE ... Built in 2008 with a high standard of finish throughout and many mod cons. Generous layout with a great sense of space & light.
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Contact Charles McCarthy Estate Agents +353 28 21533 www. charlesmccarthy.com
Property West Cork | The Southern Star | Autumn 2021
Nothing run-of-the-mill about this luxurious residence AT A GLANCE ... SUMMARY Substantial and impressive 4 bedroom family home with detached guest studio all comprising 340.7 sq. mtrs. / 3,668 sq. ft. approx. and located within a 10 minute drive of Bantry and Glengarriff. LOCATION Mill Beg, Coomhola, Bantry SELLING POINTS Architecturally designed, beautifully presented residence and studio set on 6.75 acres approx. ideal for a small farm enterprise or to create a self-sufficient vegetable and fruit garden. ASKING PRICE €595,000
BER No. 107121691
FIND OUT MORE ... Contact Sherry FitzGerald O’Neill | 028 21404 www.sfoneill.ie | Licence No. 004158
Coastal Residence near Castletownshend and within a short stroll of beaches
AT A GLANCE ... SUMMARY Exceptional quality 4 bedroom residence comprising 187 sq. mtrs. / 2,013 sq. ft. approx. of living space, detached garage and private mature grounds located adjacent to the popular Sailing Harbour of Castletownshend. LOCATION Coast Road, Castletownshend, Skibbereen SELLING POINTS Impressive family home on private landscaped gardens of approx. 0.75 acre situated within a few minutes’ drive of Castletownshend village whilst being within a 15 minute drive of Skibbereen, Roscarberry, Union Hall and Glandore. ASKING PRICE €495,000 BER No. 105366934
FIND OUT MORE ... Contact Sherry FitzGerald O’Neill | 028 21404 www.sfoneill.ie | Licence No. 004158
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Autumn 2021 | The Southern Star | Property West Cork
Dream Homes
Property perfection
Well within reach for some, purely aspirational for most, but worth a look one way or another. Here are some of the finest properties currently on the market in West Cork
Rathmore, Baltimore €1.2m A GEORGIAN style five-bed house, extending to 3,500 sqft on 21.5 acres adds up to one very impressive property new to the market near Baltimore. Guiding at €1.2m with Hodnett Forde, the architecturally designed house and estate in Rathmore is generating considerable interest both here and overseas since it launched last month. So much so that selling agent Andy Donoghue isn’t expecting it to languish on the market for long. ‘The house is stunning and definitely one of the finest to come on the market in West Cork for a long time. The detail and finish that has gone into every aspect of this property are beyond comparison. Its design, location and layout are rarely seen in Ireland and need to be seen to be appreciated,’ he said. Built 25 years ago, the house has a timeless appeal, with many of the original design features you’d associate with the Georgian period. Rooms are well sized, and and great effort has
been made to create a traditional feeling with high ceilings, plaster detailing and reclaimed materials. It’s outside though that the real magic happens. It’s a gardener’s paradise, with an internal walled courtyard and two walled gardens, a greenhouse, a potting shed … not forgetting the sauna. You’re going to want to cool off after all that digging after all. Just a short distance from the house are extensive equine facilities including a barn, six stables, machinery shed, cobbled courtyard and an assortment of other outbuildings. The land has been fenced to accommodate both horses and sheep but is easily adaptable for any operation desired. The property has multiple access points, the main one being along a tree lined-driveway. Although take our word for it, once you arrive though you’ll never want to leave. • Selling agent is Hodnett Forde www.hodnettforde.com 9
Property West Cork | The Southern Star | Autumn 2021
Dream Homes
Blind Harbour House, Reen, Union Hall €1.3m
A SHORE-side swimming pool, sandy beach, private slipway and not one, but two moorings make Blind Harbour House, at Reen, Union Hall a must-see property. In fact, selling agent Maeve McCarthy describes it as ‘a rarity in today’s market’ given its location in what she says is one of the most idyllic waterfront positions, a secluded cove, on the West Cork coastline. Originally a coastguard station, the property has since been extended and renovated and is in good condition throughout. Measuring just over 4,100 sq ft, it’s an upside house, with living accommodation on first floor to make the most of the uninterrupted sea views, including a classic conservatory. The six bedrooms are on the ground floor. Admittedly, the décor may need a little updating but we did mention the pool and beach didn’t we? Exactly. Set on around 0.8 acres, there’s an attached carport and detached garage, which could also be used for storing boats and other such equipment. We think it’s a pretty safe bet that whoever sets up home here will be a water lover. • Selling agent - Charles McCarthy www.charlesmccarthy.com
Rincurran Mews House, Ardbrack, Kinsale €1.1m KINSALE is one of those places that never seems to go out of fashion, probably because it’s got a style all of its own. It’s within easy reach of the city, but still boasts a small town vibe, albeit a very cosmopolitan small town vibe. This means demand is strong, both domestic and from overseas, and for top properties you can expect to pay top prices. The town routinely commands some of the country’s highest asking prices. Rincurran Mews House is on the market for €1.1m and is located in the prestigious Ardbrack area (within walking distance of the town) with harbour views. Architecturally designed, the three-bed is located in a small estate of only a handful of houses. The vibe is most definitely contemporary, with living accommodation upstairs to avail of the views, and bedrooms down below, two of which have their own patios. There are large floor to ceiling windows and a balcony off the kitchen, which as you might expect, is ultra modern. Glazed sliding doors lead onto the landing and into a spacious sitting room with vaulted ceilings and large sliding windows to take advantage of the southerly. There is a lawn area to the front of the house and parking for two vehicles (a boat might be a squeeze!). Ron Krueger of selling agents Engel & Volkers said the property would best suit a family with grown up children, given the compact sight. Alternatively, it would make a most impressive summer home. Either way, he said there’s been lots of interest in the property which went on the market after the last pandemic restrictions lifted. We think we could definitely a-Mews ourselves here! • The selling agent is Engel & Volkers www.engelvoelkers.com 10
Autumn 2021 | The Southern Star | Property West Cork
Dream Homes
Ballywilliam House, Georgian estate €2.95m THE former Kinsale home of American singer-songwriter Tori Amos is back on the market after extensive renovations. Amos owned Ballywilliam House for over 20 years and rightly described it as a ‘magical’ spot. She was inspired to record Boys for Pele and other works there. When she put it up for sale back in September 2018, with an asking price of €1.45m she said it broke her heart to see it go. According to the property price register it sold for a little over €1.19m. Its new owners undertook a vast and highly sensitive renovation project of the Georgian estate, with astounding results. It’s now new to the market with Bowe Property for €2.95m. The eight-bed house has been used most recently for Airbnb and private rental and proved ideal for family gatherings and small weddings. The five bay, two-storey over basement, 4747 sq ft house dates
back to 1765 and boasts many original features of the period, including a dry moat with limestone bridge. There can’t be too many of those around! While imposing and slightly austere, the house still feels welcoming and very warm. Set on over two acres, the entire estate oozes mystery, and charm. It has its own private beach on the River Bandon, and depending on the tides, Kinsale is just an easy three minute boat trip away. A path leads through a woodland to a drystone seated theatre and fire pit, with another pathway leading to one of two large thatched heated gazebos with the river views. Located at the end of a of a two km cul-de- sac it’s extremely private, while still being connected to Kinsale which is just 6km away and Cork Airport, 24kms. Ballywilliam House hits the right note on all fronts for sure. • Selling agents Bowe Property www.bowe.ie
Georgian mansion, Stone Hall, Glandore €3.8m IT is quite astonishing to think that when the owners of Stone Hall, overlooking Glandore Harbour, bought the property, it was nothing more than a dilapidated ruins, essentially four walls. But they saw something they liked, and in the early 1990s they painstakingly restored the Georgian mansion to its former glory. They took exceptional care to enhance and retain the period features of the house, while still having all the conveniences and comforts of modern living. This imposing, elevated house now proudly takes its place alongside mansions The Rectory and Seamark and is guiding at €3.8m with Charles McCarthy estate agents. Just across the way is Kilfinnan Castle which sold for over €5m. Stone Hall extends to a roomy 5,000 sq ft (465 sq m) offers bright and airy accommodation of generous proportions and includes a selfcontained guest apartment including living room, kitchenette, bedroom and shower room. All but one of the eight bedrooms take advantage of the coastal view – sure it would be silly not to! The gardens are really special and include a portion of ground with water frontage, and a quaint summer house. Hidden to the rear of the house is an enchanting tiered garden with a feature curved wall encasing it. The remainder of the grounds are laid out in woodland. This is the place dreams are made of – keep buying those lottery tickets and who knows? It could be yours. • The selling agent is Charles McCarthy www.charlesmccarthy.com 11
Property West Cork | The Southern Star | Autumn 2021
Dream Homes
Baywood, Rushanes, Glandore €1.35m BAYWOOD is an impressive home (c. 5,000 sq ft) set on approximately 9 acres of grounds that offer breath-taking views of Glandore Harbour. It has a sympathetic external finish to blend into its surrounds, whilst internally, the property boasts an exceptional open-plan design that is both practical and clever avail of the coastal views that are on offer from this wonderful site. Stepping over the threshold of Baywood reveals a wonderful reception hallway with a double-height ceiling and solid fuel stove. A family room connects directly into the kitchen/dining area, and both rooms are married by a large sunroom. This space captures panoramic views from Glandore harbour to Mount Gabriel in Schull 40km away, and provides access onto the south facing patio. On the ground floor, you will also find a study, playroom, library, boot room/utility room, guest WC and two-car garage. An independently accessed guest apartment which comprises of a living room and bedroom with en suite can be accessed from the main courtyard. Making your way up the gradually ascending staircase brings you to a large mezzanine landing area that overlooks the hallway. From here, you can access five bedrooms, four of which are en suite, a reading room and linen room. The master bedroom also benefits from a dressing area, vaulted ceiling and double height feature window that frames the amazing coastline views. Baywood itself is situated almost in the centre of the site, allowing for great privacy and the best of the views, with the site benefitting from the sun all day. The property is bounded by mature hedging and traditional Irish dry-stone walls. Located just off the main driveway is a stable block, a boathouse, two recently installed full-size tennis and basketball courts, a landscaped pond, streams and outdoor hut tub. Glandore village is a short stroll away, Union Hall is a fiveminute drive and Cork airport is about one hour’s drive. • Selling agent is Charles McCarthy www.charlesmccarthy.com
It’s a great time to think about selling HAVE you been thinking about selling your West Cork property? If it is something you’ve ever considered, it might be time to go for it. Between demand, good prices and quick turnaround times, it’s a seller’s market right now. Demand for property in West Cork has skyrocketed. It has always been a popular place to live but the events of the last year or so have made people think twice about where and how they want to live. Fresh air, space, scenery, nature and local amenities have pushed up demand, and with more and more people working from home, an escape from the hustle and bustle of city life is greatly appealing. Auctioneers and estate agents can’t keep up with the demand and are actively looking for new properties to put on the market. The demand is, of course, driving prices up. This means that sellers are getting a very good price on their property. Buyers have had enough time to do their homework, know what and where they want to buy, and are not wasting any time once a property goes on the market. Thanks to the change in lifestyle over the last year, some people were able to save more, while others are anxious to secure a home before their mortgage approval runs out. This is resulting in multiple interested buyers bidding against one another, which is also driving prices up. Some property sales are now being converted to auction to make the process more transparent. The return of physical viewings has also played its part as people who have been interested in buying over the last year, are finally getting a chance to look at the houses they’ve had their eye on. All of this is leading to an incredibly short turnover time, with the average time of reaching
sale agreed just four weeks across the country. Virtual viewings and displaying properties online are also allowing buyers from further afield and overseas to view them easily and effectively, with many choosing to 12
buy without ever viewing the property in person. While these aren’t ideal circumstances for buyers, sellers are benefitting greatly. It might just be the perfect time to take the leap and put that property on the market.
Autumn 2021 | The Southern Star | Property West Cork
‘Journey’s End’ Crookhaven AT A GLANCE ... SUMMARY A three bedroomed coastal cottage set in the heart of Crookhaven with panoramic views of the harbour, pier & village. LOCATION Crookhaven, Co.Cork SELLING POINTS Foreshore access from the front of the property. Charm of the original cottage mixed with the bright & spacious feel of the later extension. Large mature gardens offer endless possibilities. ASKING PRICE €850,000
FIND OUT MORE ... Contact West Cork Property Ltd 48 Main Street, Schull, Co. Cork. Call 028 28 122 www.westcorkproperty.com Licence no: 001144
LOWERTOWN, SCHULL
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THINKING OF SELLING? CONTACT US ON 028 28122
AIRHILL, SCHULL
Property West Cork | The Southern Star | Autumn 2021
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Autumn 2021 | The Southern Star | Property West Cork
Your Move. Our People. PH: 023-8844958
NA CEITHRE GAOITHE, DROMDOUGH BALLINSPITTLE, KINSALE P17XW59 Guide Price: €850,000
DNG Galvin present to the market this coastal detached five-bedroom family home on C.1 acre of landscaped gardens with detached lofted garage. This is an impressive property with its instantly striking high standard finish, south facing patio and views over the River Bandon. Located within 8km of Kinsale town and 10km of the Old Head Golf Course, this exceptional and well-designed property is the perfect home in the perfect place.
Majella Galvin DNG Galvin | 087 8099006 E: info@mgalvin.ie
FIRGROVE, BALLINASCARTHY, NR CLONAKILTY P85HY49 Guide Price: €400,000
Detached 3 / 4 bedroom bungalow with 5 horse stables in a delightful rural location. Set on circa 1.5 acres, Firgrove offers generous living accommodation extending to C.2000 sq.ft. Located within 9km of Clonakilty & 17km of Bandon, this property represents an excellent opportunity to acquire a fine family home with huge potential.
BALLYVACKEY CLONAKILTY P85 HW56 Guide Price: €230,000
DNG Galvin present to the market a most attractive property in this three bedroom bungalow with detached garage. Located within 5km of the award winning Clonakilty town and its excellent sport facilities and nearby beaches.Constructed in 1982, this bungalow offers the ideal opportunity to upgrade and style to any purchasers own taste. Suitable for first time buyers or family home. Kilmeen National School is within 7km, while Dunmanway town and its amenities are within 20km drive.
CLONBOUIG KILBRITTAIN
Guide Price €120,000
Circa ½ Acre Site (Subject to Planning Permission) with good countryside views within 3km of Kilbrittain village, 15km of Kinsale
www.dnggalvin.ie
001963 PSL
Dermot O’Flaherty has been practising law in the West Cork area since qualifying in 1984 Wide experience in all areas of legal work; Specialising in two main areas:
• Property law (buying, selling, transferring, mortgaging and leasing of properties); • Probate law (Wills and administration of Estates); Delivering legal services on a personal basis and in a timely, professional and efficient way, appropriate to the needs of clients.
Market Street Roundabout, Skibbereen | 028 59001 | dermot@doflahertysolicitor.ie
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Property West Cork | The Southern Star | Autumn 2021
Commercial
Thinking of investing in a commercial property?
Are you considering investing in commercial property – either for your own business or to rent to another? Majella Galvin, vice chair of the Southern Region of the Society of Chartered Surveyors Ireland, offers some key advice to prospective investors IF you’re looking to get more returns on your savings, an investment in commercial property may well be worth exploring. Commercial property frequently offers higher rewards in comparison to some residential investments, while commercial lease tenures are typically longer and can provide more security of income. In addition, when commercial tenants run their business in your property, they clean, renovate, and maintain it regularly. While investing in a commercial property may present attractive financial opportunities, like all investments it isn’t devoid of risks. The investor should be aware of these and should analyse a range of factors before making any investment. 1. WHAT ARE YOUR AIMS? As an investor identify your motives for investing in commercial property. For example, is it the security of bricks and mortar you want, or do you want to include it as part of your pension fund? 2. GET FINANCIAL ADVICE Always seek financial advice first. Liaise with an accountant and a number of lending institutions to find the most tax-efficient way of investing. Know the time frame you are looking at. Ascertain the percentage returns you can expect and the level of risk involved. When securing funds from financial institutions the main elements that are considered are, the length of lease, income and tenant schedule. You should also ensure that the agreement for sale and purchase is signed subject to you obtaining fi-
nance, if finance isn’t unconditionally approved before the agreement is signed. 3. RESEARCH THE MARKET Research the various sectors of the commercial market to pinpoint which sector best suits your needs. The most important way of doing this is to connect with estate agents in the area. The internet can be a great tool, but only if you know what you are looking for, so make sure that when you are talking to an expert, they can help you to find a property that matches your search criteria. Retail, industrial and office are the traditional sectors in the commercial market. In recent years nursing homes, wind farms and healthcare centres are growing in popularity. An estate agent will inform you of prices, yields and provide an indepth knowledge of market trends, which in turn will help you identify the sector that best suits your investment. An estate agent can also help you to narrow down your focus and consider more specific details such as multi-let or single-let. Multi-lets provides clients with diversification but it all boils down to the tenant covenant. Multi-let units may need management companies in place to manage common areas and service the premises. Commercial reports including the MSCI/SCSI quarterly property index point to the strength of logistics/industrial sector – warehousing etc – due to increase in online activity. 16
4. LOCATION, LOCATION, LOCATION Location has always been one of the most important things when purchasing any property. Prime city areas attract blue chip tenants and provide the best return for investors. Access to good road networks, employment and services continue to be essential for business success. In recent times businesses have been more open to locating in secondary/rural locations where there is good broadband, and they can get better value for money. Hybrid working conditions and young people returning to their home towns are likely to have a positive impact on the West Cork commercial property market. 5. DEMOGRAPHICS Consider also the demographics of the people living in the area. Assess the population and spending potential of the people residing in and/or visiting the area, to help you decide whether or not the property is suitable for conducting different types of businesses. Lastly check the parking arrangements in the vicinity, inadequate parking space can discourage customers. Again, an estate agent will have a thorough knowledge to inform you of local demographics. 6. BUILDING STRUCTURE AND PLANNING Get professional advice on the structural aspects of the property from a building surveyor. The condition of the property will have an impact on the cost of maintaining
Autumn 2021 | The Southern Star | Property West Cork
Commercial it. New builds tend to be more energy efficient and incur lower running costs. Always ask the registered contractors for the relevant certificates for new builds. Older properties may require refurbishment but if bought at a discount and refurbished can lead to capital appreciation. Ultimately your choice will be dictated by your aims and level of risk exposure. Research the planning trends in the area. Check with the local authorities to ensure planning permission and fire safety requirements are in order. Zoning is another important factor as this will dictate the type of business that can operate there. 7. LEGALITIES Engage a solicitor to conduct legal due diligence before purchase. Having a good marketable title is essential for liquidly and funding purposes. Other legalities to be checked include; Land registry map, easements, floor plans and that the tenant schedule is correct and up to date. If the property you are buying is part of a complex or unit it is essential to investigate any obligations attached to same. If purchasing a property with existing tenants check if they or their predecessor in title, have landlord and tenant renewal rights. If they have been in occupation for 5 years or more, there are often additional obligations that must be met by the landlord, including the tenants’ rights to renew the lease. Examine existing leases having particular regard to rent review clause, insurance, get out clauses. It is prudent to have rent reviews every few years with the clause reverting to market rent to protect your investment. In relation to insurance the majority of leases are on a Full Repairing and insurance basis (where the tenant is responsible for repairs internally and externally). 8. TENANT COVENANT Tenant covenant is a key factor. Instruct an estate agent
to assess the strength of the tenant covenant. In doing so the estate agent will assess their creditworthiness as well as the industry in which the business operates. This will help to assess their ability to pay bills, rates, service charges, etc. 9. ENVIRONMENTAL AND SUSTAINABILITY There are a number of environmental and sustainability factors to consider. Asbestos can cause problems in old commercial buildings with asbestos roofs. These buildings are not energy efficient and many investors will seek to increase the building energy rating (BER) by renewing the roof. Disposing of asbestos is a costly process. Check the local area plan to ascertain the type of zoning and physical issues such as projected flooding or land stability. Are there any future area plans that will impact on the property? In certain areas land can be contaminated be it from previous uses or natural contamination in the area. It is worth investigating as contamination can spread from neighbouring land. Building Energy Rating (BER) impact on the sustainability of the building.
to make a decision and ensure you are comfortable with the level of risk involved. Connect with an estate agent in the area to obtain expert advice and to ensure you are notified of any relevant properties coming on the market. You would be surprised how many properties never get advertised to the public. In fact, the best ones are often acquired shortly after the current owner decides to officially put them on the market. The aforementioned tips will give you the right perspectives on investing in a commercial property and help you strike a profitable deal.
10. COSTS The acquisition of a commercial property can be costly. It important to factor in all hidden costs associated with the investment. There is the initial purchase price but you must also consider costs such as stamp duty of 9%, legal fees, building survey and acquisition. Then there are the reoccurring costs, insurance, tax on rental income and vat. The majority of commercial purchases are subject to VAT at 13.5%. Once registered you will have to charge VAT on the capitalised value of a long-term lease. Some tenants may not be in a position to reclaim VAT and will need to be informed that the lease is subject to VAT. While investing in a commercial real estate asset can be costly, it can also be a rewarding undertaking. Take time
Majella Galvin, of DNG Michael Galvin Auctioneers in Bandon is vice chair of the Southern Region of the Society of Chartered Surveyors Ireland. DNG Michael Galvin Auctioneers specialise in all types of property transactions and advice. For more information contact: info@mgalvin.ie
MARTIN SWANTON p r o p e r t i e s
“River Lodge”, Glengarriff, Co. Cork. A lovely two bedroom house in turnkey condition. Walking distance to all the activities and attractions that Glengarriff has to offer. Guide Price: € 225,000.00
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Glanlough, Bantry, Co. Cork. Detached Extended traditional type farmhouse on C. 1 ½ Acres at Glanlough, Bantry, Co. Cork. A beautifully restored traditional type extended farmhouse with views of Bantry Bay and Glanlough Lake. Sitting on C. 1 ½ acres in a peaceful and quiet location. Price on Application.
“Rocky Creek House”, Church Road, Goleen, Co. Cork. A beautiful stone built detached five bedroom house with a detached garage and a large garden. Sitting on C. ½ an acre. Walking distance to the popular village of Goleen and a short drive to Barleycove’s famous sandy beaches, The Mizen Head and Crookhaven. Guide Price: € 365,000.00
Due to unprecedented sales we have a large number of cash clients looking for property in the Mizen & Sheep’s Head Peninsulas as well as the Bantry & .Glengarriff areas. With property prices on the rise it is a good time to sell. For further information please contact: Martin Swanton Properties, Main Street, Ballydehob, Co. Cork. Tel 028-37677 or 086-8073182. Email: info@swantonproperty.com 17
Agriculture
Property West Cork | The Southern Star | Autumn 2021
Sharing the spoils
Collaborative farming business structures such as farm partnerships, share farming or land leasing can provide sustainable business models, writes Thomas Curran SUCCESSION and inheritance planning on our farms is critical to sustaining a healthy and vibrant agricultural industry in West Cork. Like any good hurling or football team, you need to introduce new blood to the team on an on-going basis for continued success. The Teagasc National Farm Survey or Census of Agriculture data is clear in terms of the age profile of Irish farmers and the presence or absence of farming successors. It is important not confuse the absence of a farming successor with no successor at all. At our Teagasc ‘Transferring the Family Farm’ clinic in 2019, many farmers stated that they do not have a farming successor but they do have an inheritor(s) to the land. SUCCESSION MADE EASY A ladder is often used as imagery for the topic of succession or the lifecycle of a family farm. The bottom rungs of the ladder are farmers starting out on their farming career. Whereas, the top rungs of the ladder are long established farmers where retirement may be on the horizon. However, the farmers on the middle rungs of the ladder are a at a critical stage in their farming lifecycle where a son or daughter may develop an interest in farming and may choose it as a career in the future. All farm families also need to
be conscious that they are somewhere on the succession ladder at all times during their farming career; it is a case of where they are, on that ladder. Many people associate succession with the transfer of land. However, succession is everything that happens before asset transfer. Therefore, it can begin quite early
safety must be a big priority when involving young family members in modern day farming so careful consideration must be given to the particular tasks to involve young family members. Succession is mostly viewed in relation to family farms but perhaps it is time to broaden our view of succession to farms
‘A collaborative business structure with a qualified young person who is looking to begin their farming career but does not have access to land may be a good option’ in life. It really starts when a family member, normally a son or a daughter gets involved in bringing the cows in or other routine tasks on the farm. Developing skills, knowledge and learning to do tasks and take responsibility for tasks on the farm along the way. Farmers need to be aware of this. Like anything, if children are not involved from a relatively early age, they are less likely to develop an interest in farming. It goes without saying that farm
where there is no farming successor but an inheritor present. PARTNERSHIPS Collaborative farming business structures such as farm partnerships, share farming or land leasing can provide sustainable business models to farmers where there is a farming successor or indeed in cases where there is no farming successor. Farm partnerships are growing 18
in acceptance among farm families as an ideal structure to integrate the farming successor formally into the farming business. They may also be used by farmers who have no farming successor or by he future generation who inherit land but do not wish to farm it themselves. A collaborative business structure with a qualified young person who is looking to begin their farming career but does not have access to land may be a good option. Share farming may also be used in this way and we have a very good example in the Gurteen Farm Share farming agreement where a young farmer with no aces to land otherwise, can build and develop a viable dairy farming business. WORKING RELATIONSHIP The key challenge for any farmer considering a collaborative arrangement is to develop and nurture a strong working relationship with the other people in the agreement. This is the single most important factor in the success of any arrangement. It involves a change of mind-set on the part of the farmer to think in terms of us/we rather than I/me. The relationship must be built on strong core values such as trust, respect, understanding, and above all excellent communication. The range of collaborative arrangements available from Teagasc are as follows:
Agriculture
Autumn 2021 | The Southern Star | Property West Cork
‘The key feature distinguishing share farming from a partnership is that two completely separate farming businesses operate on one farm’
• Farm Partnerships: A DAFM registered farm partnership is a central step as part of a succession plan. It is an ideal structure to formally involve the next generation in the farm business and in doing so facilitate the gradual transfer of responsibility and decision making on the farm • Succession Farm Partnerships: Again registered with the DAFM where there is a €5,000 tax credit for 5 years for making a legal succession agreement to transfer the farm within 3 to 5 years. • Share Farming: The key feature distinguishing share farming from a partnership is that two completely separate farming businesses operate on one farm. Firstly: the business of the landowner, and secondly, the business of the share farmer. All receipts and payments are split between both people as set out in their written agreement. They both calculate their own separate profits from the arrangement. The concept remains
the same across all enterprises including dairy farming. • Long-term land Leasing: This is a growing feature of Irish farming due mainly to the income tax incentives available to the owner of the land. Leasing is an attractive option to established farmers as they can better justify investment in the land in order to get a financial return. For younger farmers, it is unlikely to be the first step but may be the option having completed a successful period in a farm partnership or share farming. • Other Collaborative Options available to farmers are: Contract Heifer Rearing; Cow Leasing and Machinery Sharing co-operatives. • Thomas Curran is regional manager for Teagasc Cork West. For more information and advice, please contact your local Teagasc Office in Clonakilty, Macroom or Skibbereen.
The key challenge for any farmer considering a collaborative arrangement is to develop and nurture a strong working relationship with the other people in the agreement.
Property News Extra
New scheme to bring all homes to B2 energy rating AN enhanced Building Energy Rating (BER) has been launched designed to give homeowners a personalised roadmap to bring their home up to an energy rating of B2 or better. It sets out the upgrades likely to have the biggest impact, with broad advice on likely costs. There are approximately 1.3m homes in Ireland that need to be upgraded to make them more energy efficient. The new Advisory Report, launched by the Sustainable Energy Authority of Ireland (SEAI) will help achieve the Climate Action Plan target of 500,000 B2 upgrades and the installation of 400,000 heat pumps in homes by 2030. Homeowners will receive an Advisory Report following a BER assessment of their home. SEAI advises homeowners that a BER Assessment must be carried out by a SEAI registered BER Assessor. Each personalised Advisory Report will follow a simple three step approach: Address heat loss with insulation; Improve energy efficiency of heating, lighting, ventilation; and add renewable technologies such as solar thermal or photovoltaic (PV). William Walsh, CEO of SEAI, said: ‘This will really empower Irish homeowners to make sound investments in their homes, their comfort, and their wellbeing. SEAI also has a range of grants to help fund the cost of these home energy upgrades and works. And there are a growing number of partners that will manage the entire upgrade process end-to-end, including the handling of the grant application for homeowners.’ Further information on contacting a BER Assessor for an Advisory Report see seai.ie 19
Property West Cork | The Southern Star | Autumn 2021
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Autumn 2021 | The Southern Star | Property West Cork
Whether you are buying or selling your forever home, a holiday home, investment/pension property, a farm, forestry, or commercial property we are here to get it done for you!
Catherine O’Brien LLB TEP Market Square, Dunmanway, Co.Cork, P47CF74
Contact us on 023 8856934 or info@cobriensolicitor.com www.cobriensolicitor.com Catherine O’Brien LLB TEP Our areas of practice include: Sale and Purchase of Property • Probate & Wills • Commercial • Litigation Member of the following
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Property West Cork | The Southern Star | Autumn 2021
Property News Extra
Call to tackle vacancy and dereliction rates
AN & CO.
CHAMBERS Ireland is calling on the government to support urban recovery and tackle vacancy, both residential and commercial. In its recommendations to government ahead of Budget 2022, it calls for the introduction of a National Urban Strategy to radically address vacancy in our urban communities. Chambers Ireland Chief Chambers Ireland wants to see the government publish and resource Executive Ian Talbot said: a National Urban Strategy that will deliver for towns and cities across ‘The ambition for more (File image/Shutterstock) sustainable towns and cities, the country. with thriving urban centres, issues, we will be able to transform our urban is a central priority of our work. It is with this areas and create thriving town centres. vision in mind that we want Budget 2022 to ‘Integral to the success of a National Urban be place-orientated, putting sustainable local Strategy is the successful delivery of commiteconomies at the heart of government policy. ments on climate action. The pillars of Ireland’s The group wants to see the government National Recovery Plan acknowledge that a suspublish and resource a National Urban Strategy tainable recovery must put climate action first. that will deliver for towns and cities across the Budget 2022 must build on the work already country. achieved to deliver more ambition and invest‘This strategy should address vacancy and LIAM O’ & CO. SOLICITORS, SKIBBEREEN ment in our sustainable transport networks, dereliction as DONOVAN a priority and improve both the afSOLICITORS, SKIBBEREEN energy infrastructure, offshore wind, the circular fordability and liveability of our towns and cities. economy and transport.’ If we can successfully address these structural
LIAM O’DONOVAN & CO. SOLICITORS, SKIBBEREEN
Ballineen housing can progress with wastewater upgrades BALLINEEN–Enniskeane is at the top of Cork County Council’s priority list for funding for a water and wastewater treatment scheme that will allow for more houses to be built in the area. Cork South West FF deputy Christopher O’Sullivan said The government announcement that there are currently some plan- Ballineen-Enniskeane is high on its ning applications in the system priority list is very positive for home that can’t progress due to the owners and developers in the area. lack of a waste water treatment. (File image/Shutterstock) ‘This is one of the most populated areas in West Cork but at the moment, the wastewater system isn’t even able to service existing residents properly. That means development is not able to take place and that’s a huge negative considering the housing crisis that we’re in,’ he said. He clarified that Irish Water is currently working with local authorities to provide alignment with the county development plan, with project details yet to be agreed. ‘With this announcement by the government - that Ballineen–Enniskeane is at the number two spot on the priority list - this should ensure this scheme is upgraded and therefore allow development to happen in the area,’ Deputy O’Sullivan said. ‘It’s encouraging news for people who live there, and it’ll help lay the groundwork for the area to be a place for people to live while working in Cork city or broader West Cork.’
Upper Bridge Street, Skibbereen, Co. Cork
���� O’ DONO��N & � CO. �O� LIAM O’DONOVAN �O�����O�� SOLICITORS
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••Throughout the pandemic, thePOWERS firm is OF ATTORNEY AND PROBATE • FAMILY LAW PROPERTY CONVEYANCING • WILLS, GENERAL • AGRICULTURAL LAW • MARINE LAW • PERSONAL LITIGATION • ThroughoutINJURY the pandemic, the firm is open for•the provision of legalLITIGATION services. open for the provision of legal services. • The office can be contacted by telephone or email and consultations can be arranged in accordance with contacted HSE guidelines. • The office can be by • Business as usual telephone or email and consultations 2021 sees the practice celebrating its 20th year in business. that time we have created a proven canIn(028) be arranged in accordance withrecord HSE of high-quality Telephone 40865 representation in all aspects of law including the sale, purchase and Email: - liam@liamodonovansolicitors.ie guidelines. letting of firm commercial residential properties ughout ion of legal the pandemic, services. the is open forand the provision of legal services. with a cost effective Website: - www.liamodonovansolicitors.ie • Business as usual focus. can be office nd consultations can be contacted can be by telephone or and emailpractical and consultations
ged in accordance with HSE guidelines. ess as usual T: (028) 40865
E: liam@liamodonovansolicitors.ie In the event of you requiring legal representation, please do not hesitate to contact us as follows: www.liamodonovansolicitors.ie
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amodonovansolicitors.ie
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Autumn 2021 | The Southern Star | Property West Cork
Contact us for your mortgage
We can help with all your property needs. We offer competitive prices with over 100 years of expertise. Based in West Cork we are your local Solicitors. To request a quote email donna@hegartyhorgan.ie or call 021 477 2557
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Hegarty & Horgan Solicitors, Law Chambers, Kinsale, Co. Cork www.hegartyhorgan.ie • 021-4772557 • info@hegartyhorgan.ie
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Property West Cork | The Southern Star | Autumn 2021
O’Donovan Murphy & Partners LLP Solicitors BANTRY – SCHULL - CASTLETOWNBERE
We are committed to helping you achieve the best outcome from your sale and are here to guide you through every step of the process. Our experienced team are ready to get you ‘sales ready’.
• • • • • • •
Helpful Tips to Prepare for your Sale
Arrange to take up your title documents from your Bank if you have a mortgage. Have your house energy rated and obtain a BER Certificate. Prepare your Local Property Tax Receipts. Apply for an Exemption or Discharge from the NPPR charge. Have an Engineer confirm that your property complies with Planning Permission. Make out a list of contents that will be included with the sale of your property. If your house has a septic tank, ensure that it has been registered, that it is serviced and, if required, has all necessary wayleaves.
Flor Murphy
Mary Jo Crowley
Margaret Collins
Barbara Daly
Luke O’Donovan
Siún Hurley
Clíodhna Mulcahy
T: 027 50808 E: info@odonovanmurphy.ie www.odonovanmurphy.ie
Main Office: The Quay, Bantry Sub Offices: Bank Place, Castletownbere Main Street, Schull 24