Kinsale, the magnet of Monster property, is enjoying new glory in the upscale home price stakes.
Built on top of Compass Hill overlooking the city and port, the six-year-old house fetched up to 5.5 million euros, a new record for the city with sales of several million euros at nearly a penny.
In a league of its own in terms of attracting wealthy home hunters, Kinsale is heading for up to €50M+ property sales since 2010, an unprecedented record outside of Dublin’s catchment.
Kinsale’s Constantia Farm, a 4,000-square-foot family home on 27 elevated acres that was sold by Mercy Order as unallocated land in 2012 for €450,000, has been repossessed.
Planning was subsequently granted for a single “farm” house, and the completed house was put on the market a year earlier with local agents Sheehy Brothers, at a price undisclosed by local sources at €5 million: it is understood to have sold for more than that. of this figure after some lengthy negotiations.
With a high-end architecture home completed right there on 27 pasture acres, with 1.5 acres of gardens with an avenue surrounded by roses, the property has already jumped more than tenfold.
The completed sale at €5.5 million has vastly exceeded the €4.75 million paid earlier this year for Kinsale’s Raffeen House, an old home on Scilly’s harbor waters edge that was sold by businessman Colm O’Sullivan, “Sully.” From popular food brand Cully & Sully, to a buyer in the United States.
In contrast, Constantia Farm was chosen as a full-time family platform by a local Cork-based technology and communications entrepreneur. It is understood that he made a very large profit of several million euros as a major shareholder when the company he created earlier this year merged with a US giant to merge into a company with annual sales of 100 million euros, Bloomberg reports in March. .
He is due to move to Kinsale from a West Cork home he bought around 2015.
By slight coincidence, the sellers of Constantia’s farm – the Bendon family – also moved to Compass Hill in Kinsale after living at another gilded site in Munster, Glandor, where they founded the Glenmar Seafood Company. This was later sold to Lisavaird Coop, a sort of addition to Kinsale’s high-end real estate market profile of individuals who earn heavily from the company’s sales and mergers and acquisitions.
For those recently enriched who missed out on this time at Constantia Farm, Kinsale is still listed in Oceanbreeze in Scilly for €5 million, and the 14-bed specialist hospitality venue Ballinacurra House upriver of the town, on 20 acres at €6.35m. the home It is where Michael Jackson secretly stayed for several months With his children away from prying eyes.
Located at the southern end of the 27-acre Constantia Farm above the Georgian Drumderej House on Compass Hill, this home is hardly a communal farmhouse or garden farm.
Priced at €5 million+, it spans over a modest approximately 4,000 square feet and was designed by West Cork architect Geraldine Coughlan. It has sliding doors that open onto balconies, large patios, landscaped gardens, sunken patio, fire pit, barbecue area, double garage, and flower-lined street.
The price paid is €1,300 per square foot, give or take, excluding the value of the land on top of Compass Hill, which may eventually rise in value to another if re-partitioned.