An international buyer has just paid the highest price for a Kinsale home, securing a waterside deck for close to € 5 million, after just three months on the market.
Signed, stamped and about to be delivered early in the New Year is Raffeen House, owned by food entrepreneur Colum ‘Sully’ O’Sullivan of the Cully & Sully food brand.
It is a restored and improved Georgian period home in Scilly, with the harbor at your feet, you have your own private jetty, jetty and the town of Kinsale on your doorstep.
Raffeen House went up for sale in September with a price guide of 4.9 million euros, and was sold after rapid competitive interest, confirmed real estate agent Ron Kruger of Engel & Voelkers, who said: “It received very good interest from everyone”.
Even though the exact price paid has yet to be revealed and it is understood that it was close to the € 4.9 officially sought after and was thought by commenters to be too high when it was released (it will appear in early 2022 in the Price Register ), sets a new benchmark, including for Kinsale, which regularly sees house transactions in the price league of more than 1 million euros, usually to foreign buyers.
The same E&V agent, Ron Kruger, had sold an adjacent contemporary house in Scilly, Corafinne, in 2018 for € 2.55 million to a Bahamas-based Cork buyer.
Here at Raffeen House, in the heart of Scilly and off Kinsale’s Pier Road, Mr. Kruger performed in conjunction with Callum Bain of Colliers International. The same group of estate agents also sold Horse Island in West Cork last year, which had been priced even higher, 5.5 million euros, following an overseas bidding interest, and the buyer of That luxury island retreat was bought during the Covid shutdowns. sight unseen.
In contrast, the new owner of Kinsale’s Raffeen House, also from abroad and likely to use it as a holiday home, is said to be familiar with the area: “They visited the area numerous times and fell in love with the property in en their first visit ”, said the joint sales agents and said they are“ very satisfied with the result, we wish the suppliers every success in whatever company they turn to in the future. In addition, we wish the buyer many years of happiness in this wonderful property. “
Salesman Colum ‘Sully’ O’Sullivan bought Raffeen House after selling his Cully & Sully food company (co-founded in 2004 with Cullen Allen of Ballymaloe) to a major organic food company Hain Celestial in 2012 for an undisclosed sum, probably double -digits million euros.
The price record shows that Raffeen House was sold in 2013 for 1.5 million euros, and re-emerged there again in 2016, at 1.9 million euros. An adjacent Scilly property, Pallace Wharf, was sold in 2004 for € 4 million during the time of the Celtic tiger.
So the quick 2021 pre-Christmas harvest of the Raffeen House marijuana deal looks like a second windfall to ‘help’ O’Sullivan, his wife, UCD law professor Joanne Blennherhasset and their family, who said at the time of going to market they expected a place with more land near Kinsale for their young family.
They did a full restoration on the 3,500-square-foot Raffeen house after purchase, and the five-bay Georgian property is a listed structure and had been in the hands of one family, the Dormans, for decades prior to Sully’s relatively short tenure. and the family. here.
The sale confirms Kinsale as Munster’s unassailable real estate hot spot (arguably only rivaled by the most diverse West Cork) with 39 home sales for a million euros or more since 2010.
Now, there’s a new Top Gun in town – move on to the Property Price Register reveal and, being Kinsale, the buzz is accelerating as to who the buyer is.
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