A Chinese investor recently purchased a 21-acre site overlooking Magheramore Beach for €613,000, surpassing the auction guide price of €550,000. This marks the latest change in ownership since the property’s acquisition for €210,000 in 2021 by Oakmount. Located in a prime surfing area with a rich filming history, the site is poised for potential tourism and recreational development, despite a rejected leisure complex proposal. Those curious about future plans might find engaging insights ahead.
In a notable real estate transaction, a 21-acre site overlooking the scenic Magheramore Beach in Ireland was recently sold to a mysterious Chinese investor based in the country. This property acquisition, finalized at a price of €613,000, surpassed the auction guide of €550,000. However, it fell short of the €700,000 price previously paid by Paddy McKillen jnr’s Oakmount in 2021.
The site, originally acquired in 2021 for €210,000, has a rich history, having been owned by the Columban order of sisters and changing hands several times since the 1980s.
Magheramore Beach is renowned as a premier surfing location on Ireland’s east coast, drawing both local enthusiasts and tourists. The beach is also celebrated for hosting the annual “Strip & Dip” event, a fundraiser for cancer research. The property’s strategic location makes it a focal point for tourism development, a factor that likely influenced the investor’s decision to acquire the land.
The site has served as a filming location for notable TV productions such as Vikings, Camelot, and Finding Joy, further enhancing its appeal.
Previously, Creatively Pacific Ltd, a subsidiary of Oakmount, had put forth a proposal for an integrated tourism and leisure complex. The proposed development included 48 accommodation pods and a surf school facility, targeting a 2.95-hectare portion of the site.
Despite the ambitious vision, the plan was rejected by the local Wicklow County Council in May 2023, and subsequent appeals to An Bord Pleanála were also dismissed by January 29th.
The recent acquisition has sparked considerable speculation regarding future development, given the site’s potential for tourism and recreational activities. The local community remains keenly interested in the new owner’s plans, considering the beach’s historical significance and popularity.
While the future of the site remains uncertain, the possibility of tourism development continues to be a topic of discussion. As this new chapter unfolds, the balance between preserving the area’s natural charm and capitalizing on its economic potential will likely shape the course of any forthcoming projects.
