This article is from page 8 of the 2012-12-18 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 8 JPG
EUROMILLIONS winners Dolores McNamara could be set to make Killaloe her new home after a deal was concluded for the sale of Tinarana House over the weekend. A deal for the 270 acre property, which was sold for around € 13 million by Dr Paschal Carmody in 2006, was finalised late last week – with Dolores McNamara understood to be one of the bidders in the final shake-up.
The property was sold for around € 3.5 million, almost double the 2012 asking price but still nearly € 10 million less than was paid for it by development consortium Tinarana Ltd in 2006.
Local property agents GVM have remained tight lipped over the identity of the estates buyer. Once the transaction had done through details of the sale will be published on the newly established Property Price Register. The address of the property and the final sale price will be included on the register – but not the name of the buyer.
It is understood that Dolores McNamara has been on the lookout for a rural property to avoid excess media attention. She already owns nearby Lough Derg Hall, which was bought for € 1.7 million and where she has lived on-and-off since 2005.
Tinarana House has attracted a large number of interested bidders since it went on the market earlier in 2012. Bidders from Austria, Holland, Germany and Britain are understood to have been in the shake-up for the property, alongside the Euromillions winner.
Tinarana House itself includes 16 bedrooms and 15 bathrooms and was put on the market on the instructions of receivers PriceWaterhouse Coopers in June of this year.
While the € 3.5 million price tag is considerably less that the € 13 million paid in 2006, it is understood that the historic property needs restoration work which could total as much as € 1 million.
At the height of the property boom in 2006, Tinarana Ltd received planning permission from Clare County Council to construct a major hotel and leisure complex on the site – which also included an 18-hole championship golf course and equestrian holiday village.
An Taisce objected to the development and those objections were upheld by an Bord Pleanála in 2007.
Tinarana House was built by the Purdon family of England in the 1870s as a fishing and hunting lodge. The mansion comprises 14,467 square feet and sits on a small raise overlooking Lough Derg.