This article is from page 15 of the 2012-10-02 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 15 JPG
A DEAL to purchase Tinarana House in East Clare looks set to be complete before the end of the month as three separate offers have been made for the property.
The property, which was bought for an estimated € 14 million less than a decade ago, is likely to be sold for € 2 million.
The property is being sold by GVM Auctioneers in Limerick, who yesterday confirmed that a deal was imminent.
“We have had a lot of interest in the property and a lot of viewings. At the moment, we are looking at three different offers which I would describe as being substantial,” said Tom Crosse of GVM.
“While I can’t give any more detail about the offers, I can say that they are in the region of the € 2 million guide price. Things are moving quickly and we would expect a deal to be finalised before the end of the month.”
Located in Ogonnelloe, Tinarana House boasts 16 bedrooms and 222 acres of grassland and woodland.
Plans had been approved by Clare County Council to convert the property into a major tourism, sports and leisure centre but planning permission for a € 100 million development at the site were turned down by An Bord Pleanála.
One of the reasons for overturning the local authority planning permission was that it was in an area designated as visually vulnerable in the 2005. The latest version of the Clare County Development Plan sites the development of a tourism facility at Tinerana House as one of its desired outcomes.
Meanwhile, the Merriman Hotel in Kinvara was purchased last week for an undisclosed fee, understood to be in the region of € 400,000. The 32bedroom hotel was due to go up for auction on Saturday but an agreement was reached before the auction could take place.
Auctioneer for the sale, Colm O’Donnellan could not give any detail of the final sale price of the property but did confirm that the property was sold as a going concern and will be relaunched as a hotel.