Net income in Netflix scene-shooting glorious Glandore with €5m hotel/investment offer

The production is likely to be in Ireland until autumn, and is due to screen in 2023: it stars actors Will Forte from Saturday Night Live, and Chris Walley, star of the original Young Offenders movie which, by coincidence, filmed in Glandore and Union Hall in 2016.

The picture-postcard-set complex up for sale includes 17 lettings and holiday homes by the pier and was bought by former Cork publican of the Rebel Bar Group, Tom Scriven, for an unconfirmed €2m in 2015, having closed as a hotel in 2013 on instructions from KPMG.

It has since been redeveloped by Tom Scriven’s new and active development company, Darcor Developments Ltd, which sold four of the units to Cork County Council and has a number of other on long-term lets including HAP, earning €230,000 pa in overall rental income.

One unit, the Coachhouse, lets at €2,000 per month, and there’s scope to convert the hotel building, currently with 11 en suite bedrooms, to six other apartments, suggests Mr Scriven who now runs Darcor with sons, Cormac and Darragh: Darcor are also active in small-scale site purchases and sales in locations such as Baltimore, Carrigaline and Ringaskiddy.

Selling agents for the Glandore complex are Kevin O’Sullivan of Barry Auctioneers, jointly with Andy Donoghue of Hodnett Forde, who guide at €4.75m-€5m. They say there’s already interest, either in lots or in its entirety, the preference being to sell as one lot, though they add “all proposals will be considered in the overall context, as it lends itself to a variety of uses.”

There’s a former bar/restaurant section to the front, two-storey over basement overlooking the pier and Glandore Harbour towards Union Hall: recent new regulations allow for change of use from bar/restaurant to residential without having to go for planning permission, note the selling agents.

This could add an additional rental premium, in what they bill as a landmark premises in one of the coast’s prettiest settings, and with the highest property values, including over half a dozen €1m+ house sales, topped by Kilfinnan Castle’s €5.7m in 2019.

He has since demolished the hotel, sold six houses and apartments, and sold the swimming pool for c €100,000 to a local group.

The undeveloped c 1.25 acres has a €650,000 guide price and is zoned ‘town centre’/residential, is serviced and has a lapsed planning for high density, likely to be developed for a small number of larger homes, with some water views.

DETAILS: Barry Auctioneers 021-4279677 Hodnett Forde 021- 023-8833367