Cregg Castle House is a Georgian house with special characteristics. Situated just a few miles west of Fermoy, a busy and bustling town on the main Cork/Dublin road, it is an oasis of peace and serenity set in 17 acres of parkland and grounds which sweep down to the River Blackwater.

Steeped in history, the house has come on to the market with an asking price of £1.5 million-plus. The grounds include an Italian garden; a winter garden within the spacious house and stables in a cobbled courtyard which would be ideal for conversion. Cregg Castle House is flanked on one side by the Castlehyde Stud, on the other by Castlehyde Fruit Farm.

Set well back off the road, the house is approached by a winding, tree-lined drive. The current owner, Michael Fahndrich, has provided ample parking facilities at the rear of the house to ensure there is no unnecessary intrusion by cars towards the front, which overlooks the lawns and river.

It has its own fishing rights on the Blackwater, a favourite haunt of generations of trout and salmon anglers. They are accessed after a short, direct walk to the bank. There are fishing rights also to the left and right of the Cregg Castle House stretch of river, but these are leased.

The house adjoins the ruins of the 13th century Cregg Castle, which is not part of the property.

The private treaty sale is being conducted by north Cork auctioneers Michael H Daniels & Company, who says that while the house is now officially on the market, Mr Fahndrich's known wish to return to his native Germany had already prompted interest from Irish and overseas buyers.

"There are few houses of its stature left," says Mr Daniels. "The walled gardens, including the Italian garden and paddocks, are another attraction and there is huge scope for further development if that is what a prospective buyer should wish."

The present early 18th century house, with an extensive basement area, also has a two-storey Queen Anne-style wing. In the mists of time, according to the Ancient Book of Lismore, it was the seat of the O'Regan clan, ancestors of the former US president.

On entering, the restored reception hall and staircase are lit by an arched window, introducing the sense of light that permeates the house. This floor includes the ballroom/main reception room, diningroom with kitchen, the library and the winter garden. In the basement, there is a billiards room, a fitness room with sauna and a wine cellar.

On the first and second floors, there are six bedroom suites, each with views of the grounds. The rooms are spacious and full of light, with different character aspects. The heating system, using two burners, one for water and one for heating, enables different areas of the house to be heated separately.

Mr Fahndrich, together with two partners, purchased the house in 1997. An interior designer, he has overseen many improvements there, including new flooring, wiring and heating.