Holiday village at Hook Head sells for €700,000

A partially built holiday village fronting on to the sea at Hook Head near Fethard on Sea in Co Wexford has been sold to a local developer for around €700,000.

Colliers International and New Ross estate agent PN O'Gorman handled the sale of 68 houses at Hookless Village which have remained unfinished since the unexpected death last year of local housebuilder Michael J O'Donnell.

Ann Carton of PN O'Gorman said that apart from the task of finishing off most of the houses there was a considerable amount of infrastructural work to be carried out on the site.

She estimated that when completed the houses would probably be worth between €85,000 and €110,000. She said two houses had already been sold by the receiver for €110,000 each.

The 42 homes in the first phase of the village were developed by a different builder about 17 years ago. Development work on the present phase of 68 homes commenced in 2005 and, though a further nine of the units have been fully completed, they remain unsold because of the recession and the banking crisis.

Apart from the nine homes ready for sale, 22 more are at the second fix stage; four large detached homes have also been brought to first fix while 33 more are in shell condition with roofs, windows and doors in place.

The development covers 16 acres in a Cliffside setting overlooking the Saltee Islands and Hook Head lighthouse. It is one of the most unspoiled coastal areas with private beaches and a number of convenient harbours from which to sail or fish. A adjoining site extending to 56 acres is for sale at over €7,000 per acre.