Luxury Irish escapes make a return

When John and Francis Brennan, the brothers behind the five star Park Hotel in Kenmare, Co Kerry, completed luxury holiday apartments on the wooded grounds of their luxury hotel in early 2008, it was a foregone conclusion they would sell. The 18 “lifestyle residences” as they were conceived would accommodate regular guests of the hotel seeking something more permanent. Prices would range between €1.45million and €2 million.

Four of the apartments sold. Two achieved sums north of €1 million, while two more were purchased together and knocked through to create a four-bed apartment.

Fast forward seven years, and as John Brennan puts it, “we built in the worst week, of the worst month, of the worst year. We knew we couldn’t sell them then and decided to sit it out, and luckily the bank stuck with us.”

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Now The Retreats are launching to the market but no lesser in spec than the first day they were built. The Oppermann-designed two-bed apartments were developed using local limestone and native woods at a cost of around €12 million. The interiors were designed by Queen Elizabeth’s nephew David Linley, and a four-seat cinema/music room, a 1,000-bottle wine cellar and a 350ft south-facing balcony is standard in every apartment. Now 12 apartments of 1,300 sq ft (approx) are asking between €495,000 and €535,000 through agent Ganly Walters.

At each level in the three blocks there are just two apartments maximising light and scenic views through floor to ceiling windows. The design ensures each living area has a spacious south-facing terrace/balcony, while the bedrooms have private terraces.

Optimistic

Clearly it’s been a difficult few years and even the ParkHotel with its exemplary reputation wasn’t exempt. Did Brennan ever think the Park would go under? “There wasn’t anyone in this business in 2011 who knew what was going to happen. We would have been fearful for the Park back then.” Now he’s a lot more optimistic, and the relaunch coincides with recent expressions of interest.

The Retreats were originally built with a Park Hotel stalwart guest in mind – older well-off Americans looking for a bolt hole here. However Brennan has noted an emerging market of affluent Irish (and international) fortysomethings with young families who haven’t suffered pension wipeouts and want a second serviced home. They also want more space which is why this time around there’s a two-storey four-bed plan available (priced at €1 million) for those who want it. There are also two parking spaces and a sizeable store room per apartment, with a separate private access from the hotel’s main entrance.

Buyers get full use of the hotel facilities, and Brennan says owners can expect, within reason, the same level of service as would be extended to guests of the hotel. There’s an annual maintenance charge of about €2,000. The management company structure also ensures The Retreats can’t be bought as buy-to-let investments.

“I believe the majority of buyers will buy because we are here, and we will probably know them.These were never developed for us to walk away from. We’re here for life so we want things to be right and the people to be happy here.”