News that ‘secret millionaire’ Nadim Sadek has found a buyer for his Clew Bay jewel, Inish Turk Beg, broke over the weekend – but mystery continues to surround the island’s new owners.
The asking price for the property was set at €2.85 million. That figure may not scream the word bargain, but Sadek – who starred in RTÉ reality show ‘Secret Millionaire’ in 2011 – spent a cool €9 million transforming the island into the luxury hideaway it is today. The Egyptian-Irish businessman initially bought it in 2003 for €1 million, having outbid Boyzone frontman Ronan Keating.
The property went ‘sale agreed’ on December 9, and while the actual figure agreed has not been disclosed, reports suggest that it went for a ‘knockdown’ price. Reports also suggest that the mystery buyers are ‘a low-key couple with extremely deep pockets’.
The 65-acre island boasts five state-of-the-art residential properties and leisure facilities, as well as a craft house, a working farm, orchards, a boat house, a floating marina and a pier.
The main residence is a contemporary two-storey house with six bedrooms, a number of spacious reception rooms and a music hall. That building was designed by London architects Andrew Wright Associates. Westport-based McGann Scahill Architects designed the main house extension (the 'Look-Out'), a 'glass link' and the swimming pool. Swedish architect Maria Rutensköld also designed two modern house kits on the island, with McGann Scahill Architects assisting as site architect.
The sale is being conducted by Knight Frank and Sherry FitzGerald, in association with Christie’s International Real Estate.
Another Clew Bay gem, Dorinish Island, remains on the market. Although previously owned by another millionaire, John Lennon, the island is less than a third of the size of Inish Turk Beg and remains undeveloped. However, prospective buyers would not have to dig quite as deep as Inish Turk Beg’s new owners: It is currently for sale for €300,000.
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This article was updated on Thursday, February 14 ,2013.