Euromillions winner Dolores McNamara is the new owner of a 16-bedroom Victorian mansion on the shores of Lough Derg, which has been bought for €3.5m, the Limerick Leader can confirm.
The Limerick mother of six, who scooped €115m in 2005, successfully beat off competition from bidders across Europe, with a local firm of solicitors buying the estate in trust.
The firm declined to comment on any of Ms McNamara’s business affairs when contacted by this newspaper.
Tinarana Estate, which boasts 2.3km of lake shore frontage and over 220 acres, was put on the market on the instructions of the receiver, PriceWaterhouse Coopers, and was sold by Dublin based agents Frank Knight and local agents GVM.
Tom Crosse of GVM in Limerick, who negotiated the sale, said he is “delighted” with the sale, after it fetched nearly twice the asking price.
Described as a “beautiful” property, it was put on the market in the past five months, with the deal concluded late on Friday night, he confirmed.
“It has an aura of magnificence and could be something really special,” he said.
It is expected the house and estate will require an investment of at least €1m, as it has been vacant for quite some time, with the new owner expected to move in next year. The house extends to 1,344 sq mts (14,466 sq ft) and is laid out over three storeys, with two drawing rooms looking out on to Lough Derg. The mansion sits on an elevated site surrounded by sweeping lawns, with an ornamental pond to the front.
The estate also includes four separate cottages or lodges, to accommodate other guests, a sauna, stables, two boat houses, and a private jetty.
Ms McNamara is currently listed as being the 78th richest person in Ireland, and accrues in the region of €12m interest annually on her winnings from a €2 quickpick in the lottery. The jackpot had rolled over nine times, making her the biggest individual winner in the history of the Euromillions until May 2009, when a young Spanish woman won €126m. A former part-time cleaner, she then lived in Garryowen in the city, but now also owns nearby Lough Derg Hall, which was bought for €1.7m in 2005.
Tinarana Estate was formerly owned by Dr Pascal Carmody and his wife Dr Frieda Keane Carmody, who sold it in 2006 to a development consortium. On Friday last, Mr Carmody was acquitted in Ennis Criminal Court of obtaining money by deception from families of two terminally ill patients.
During the boom it was bought for €14m by a consortium of Limerick businessmen who had plans to turn it into a major tourism, sports and leisure resort.
The €100m plans for the site were approved by Clare County Council, but were later turned down by An Bord Pleanala following an appeal by the heritage body An Taisce.
The directors of Tinarana Ltd included Limerick developers Joe Hanrahan and John Shee, with NAMA appointing a statutory receiver to assets belonging to one of their Limerick based companies this year.
Situated in Ogonnelloe, the estate is 7.4km from Killaloe.
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