Property company with Donegal connections buys Carrigart oceanfront development

written by Stephen October 11, 2017

A property company with Donegal connections is understood to be behind the purchase of the Cuan Na Ri complex on Sheephaven on the Wild Atlantic Way between Carrigart and Lackagh Bridge.

The Oceanfront Complex with a guide price of €2.6 million attracted widespread interest in the trade with brisk bidding reported.

A source revealed the new purchaser of the luxury complex is Bartra, a Dublin based company owned by well-known property entrepreneur Richard Barrett.

The source also revealed that local woman Sally Anne Sherry is a close advisor to Mr Barrett and influenced his decision to invest in Donegal.

 

According to their website, Bartra are building houses, healthcare assets and developing renewable energy projects. It seems that they are branching into the tourism sector now too.

The contracts on the property are understood to have been signed in recent days and the sale will be finalised before the end of this year.

 

The resort includes 27 holiday villas, a bar/restaurant complex and boardwalk on 186 acres, overlooks Sheephaven Bay and the area is a well-known holiday destination for Northern and UK families; golf and water pursuits, fishing and sightseeing on the Atlantic Drive.

The highly popular Boardwalk provides direct access to Trá Mór Beach and there is planning permission for a further 47 holiday homes and a 32-bedroom hotel and leisure centre.

A spokeswoman said the location offered real potential to further develop the resort and already the complex lends itself to offer yoga retreats, meditation retreats, corporate challenge packages, outdoor activity holidays, fishing, hillwalking, kayaking, surfing, cycling and angling to name but a few.

Cushman & Wakefield said the development of Cuan na Ri is an exceptional opportunity to acquire this freehold interest and its current facilities.

The development and holiday homes were built by T&G Properties after it acquired the site in 2007. The 27 villas opened for business in 2012 and the Oceanfront Complex was opened for business in 2015.

The exact net value of the property is not known but one villa put on the market last year had a guide price of €229,00 – the price was advertised as being €60,500 less than what was previously sought.

All the villas are fully fitted out and decorated. A previous bid by Ryder Cup captain Paul McGinley to develop a golf resort on the site was refused planning permission.

 


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