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Property crash puts Irish mansion and 14 holiday homes on sale for $1.4m

Fire sale prices on luxury property in Kilkenny

By
KELLY FINCHAM,
IrishCentral.Com Editor

Published Friday, August 28, 2009, 8:52 AM
Updated Friday, August 28, 2009, 9:05 AM

 

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Duninga House which is on sale for a bargain basement $1.43m
Duninga House which is on sale for a bargain basement $1.43m

An 18th century mansion and 14 holiday homes set on 47 acres have gone on sale in Ireland for a bargain basement €1m ($1.43m).

Duninga House in County Kilkenny - the former family home of the Mullins racing dynasty - looks set to become the poster child for the massive Irish property crash.

The holiday homes alone were originally on sale for €500,000 ($720,000).

Now, the entire portfolio, which includes the mansion, the holiday homes, stables, outhouses and exclusive fishing rights on the River Barrow, is on sale for the price of two holiday homes.

The property is being sold by KPMG accountants after a proposal to turn it into a five-star hotel and tax-break holiday homes collapsed.

Michael Jackson's Irish real estate agent Dominic Daly is acting for the accountants.

"We have a number of views planned for next week," he said. "We will get the best we can and then it's up to the receiver to decide."

Daly said the accountants had set the price but it was hard to guage interest in the property given the mayhem in the property market and the international credit crunch.

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