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Potential investors lined up for Tinarana

THREE investors have expressed an interest in paying up to €2 million to purchase the Tinarana Estate on the outskirts of Ogonnelloe.
Tom Crosse of GVM Auctioneers, Limerick, has revealed there has been a very good level of interest and ongoing viewings from potential investors for the house, which sits on 222 acres of land.
Pressed about possible buyers who had made offers very close to the €2m guide price, Mr Crosse confirmed one of the three main bidders has local and international business interests.
“The Tinarana Estate has a lot of development potential for someone to take it on as a major project and develop it over the years. It has an aura of magnificence and could be something really special,” he said.
Clare County Council is supporting the principle of a major tourism development in the well-known Ogonnelloe estate, despite a ruling from An Bord Pleanála, which turned down a €100m project.
One of the tourism objectives contained in the new Clare County Development Plan commits the council to facilitating the development of Tinerana Estate as a tourism product.
The statement could be viewed by potential developers as a boost if any fresh plans are lodged to transform the late 19th century Victorian house into a flagship tourism development.
A Limerick-based company that purchased the estate from former Killaloe doctor Paschal Carmody and his wife Dr Frieda Keane Carmody in 2006 for a figure believed to be between €12 and €14m, were forced to scrap their plans following a successful appeal by An Taisce in 2009.
The board ruled the proposed development, which was previously granted by the council, would be located in a rural area designated as visually vulnerable in the 2005 Clare County Development Plan beside a road that was a scenic route.
The project included refurbishment of Tinarana House, comprising 30 two-bedroom accommodation units, multi-purpose banqueting, function/conference facilities, spa and wellness centre, 130 two-bedroom short-term accommodation units, 18-hole championship golf course and an equestrian holiday village.
The estate is for sale on the instructions of the joint receivers Billy O Riordan and Michael O Regan, PricewaterhouseCoopers.
Lot One includes Tinarana House with 222 acres, while Lot 2 has 22.6 acres by separate negotiation.

 

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