New to the market this week is an equestrian centre and lakeside holiday village near Carrigallen in rural Co Leitrim.
Agent CBRE is guiding €1 million for the Gulladoo Equestrian Centre and Holiday Village. It is set on 20 acres and has 550 metres of shoreline to Gulladoo Lough along with six floating boat berths, three raised decking areas and a large car park overlooking the lake.
The property’s equestrian facilities include two stable buildings, a large horseriding track, grazing fields, training ring and showjumping area.
There is also a small holiday home village and retreat centre, comprised of a facilities building, a boathouse, a three-bed bungalow and five modern holiday homes.
The holiday village was formerly used as an arts and retreat centre. Agent Robert Colleran suggests that, subject to planning permission, there is potential to convert the facilities building to another hospitality use, extend the holiday home village and build additional holiday homes along the shoreline.
Reduced asking price
Mr Colleran has also just reduced the asking price for another holiday village and equestrian centre at Lough Oughter in Co Cavan. The former Office of Public Works showpiece from the 1980s, Killykeen Holiday Village, was put on the market last June at €1 million but is now quoting €750,000.
It has 28 log cabins for guests, associated office/service facilities and a selection of leisure facilities on nearly 74 acres, with 1.7km of shoreline to Lough Oughter right in the heart of Cavan’s lakelands. Mr Colleran says a developer “may have to spend approximately €1 million or higher to refurbish all of the holiday homes and facilities buildings”.
Coillte took over responsibility for Killykeen in 1989 and it operated at a reasonable level of financial success until the foot-and-mouth outbreak in 2002, when the State forestry company closed access to all forest parks.
The complex had depended on repeat business, but the foot-and-mouth crisis meant that cycle was broken. The park did not recover, and has been closed for a number of years.
Interestingly, Killykeen was put on the market in 2006 and a sale was agreed at €4.75 million in 2007. However, this sale was never completed and Coillte took court action aimed at enforcing it. The facility was put back on the market again in 2009 at €3.5 million, but failed to sell during the crash.
