Lakeside home with room for a cruiser

Lough Derg, with its combination of rustic tranquillity and lake views, is perfect holiday home territory. A luxury lakeside house there is for sale for €2.95m writes, Michael Parsons

NOT SINCE Brian Boru has Killaloe seen such style. A thousand years ago, the High King of Ireland reigned over his minions from Kincora, a fabulous palace on the southwest shores of Lough Derg. Today, the shoreline is fringed by palatial, multi-million euro houses - many built since the start of the decade - for our newly-rich, leisured class.

They don't come much swankier than Bunglasha House in Ogonnelloe, Killaloe, Co Clare. The purchaser will become the first occupant of a grand, 557sq m (6,000sq ft) home on 5.5 acres which is for sale by private treaty at €2.95 million through Sherry FitzGerald Talbot, Nenagh.

The property, just a few miles from pretty Killaloe village and within striking distance of both Limerick city and Shannon Airport, has 200 metres of lake frontage and a private, deep-water harbour large enough to dock a cruiser.

The vendor, a civil engineer, designed and oversaw the construction of the five-bedroom house to a very high standard. He didn't skimp on expense or detail - from the limestone-pillared entrance to the installation of a swish, computerised system to control lighting, heating and sound.

The interior is decorated in neutral colours and the floors laid with a pleasing mix of pale marble tiling, oak and red deal. The staircase and all the doors are of solid oak, and the windows by "the best on the market", American manufacturer Marvin.

There are five spacious bedrooms including a "children's suite" with a twin-bedded room and adjacent sittingroom. A games room could be used as a home cinema - the latest must-have in rural Ireland.

Most rooms have light-filled lake views and have been stylishly furnished to showhouse standard. The purchaser will acquire all the contents and furnishings - meaning you could already be enjoying your 2008 summer holidays here.

There's access to a variety of watersports - swimming, canoeing, waterskiing and cruising the lake (and, indeed, exploring the Shannon upriver). The University of Limerick's Lakeside Activity Centre is just two miles away. And there's lovely walking in a neighbouring, 80-acre Coillte-managed wood.

This is also a property with business potential. The grounds include three partially-restored (and newly-roofed) stone cottages - with lake views - which would be ideal for (paying) guest accommodation and appeal especially to anglers, sailors or anyone looking for an idyllic, self-catering getaway.

A very spacious Indian slate patio - perfect for outdoor summer evening parties - surrounds the house. Facing the lake, and sheltered by majestic oak trees, is a fountain featuring a statue of Bacchus, the Roman god of wine - transplanted from the lawn of an English country house.

Defiantly naked, and egged on by his companion - a gurgling, chuckling cherub - he gazes out towards Holy Island with its monastic ruins and soaring round tower.

He's the perfect symbol of the new Ireland. The Island of Saints and Scholars has become the land of seared scallops and silky Sancerre. Nunc est bibendum!