Re: Re: well what about the developments popping up in the shannonside ?
Limerick waterfront sites to fetch €100m
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LANDS totalling 7.2 acres fronting the Shannon at Limerick stand to fetch €100m.
Shannon Foynes Port Company is seeking tenders from developers for the purchase of two prime waterfront properties. The largest of the sites is a 5.3 acre development property with significant frontage to the River Shannon and located on the west side of Limerick Docklands.
The port company is also selling a 1.9 acre site beside the Clarion Hotel. Both sites are being sold by Jones Lang LaSalle and could set a new benchmark for Limerick city. The sale will generate interest from developers seeking to cash in on the transformation of the Shannonside Docklands – driving land values up towards levels heretofore seen only in the capital.
Earmarked
The Docklands has already been earmarked as one of Limerick’s most important developments areas over the next decade – extending Limerick city centre as a new residential business and leisure quarter.
The sales form part of an overall (and very valuable) 40 acre holding between the Shannon and the Dock Road. Redevelopment of this area has already commenced with the Clarion Hotel a landmark building to the north east of the port company’s lands.
The land now for sale is zoned “general purpose” under the Limerick City Development Plan 2004. Preferred land uses include “hotel/motel, residential, local shop and neighbourhood shop. offices, community facility, cultural use, schools, science and technology based industries,” among others.
Both sites are for sale by tender. The larger site has approximately 190m of frontage to the River Shannon. Access is from Atlas Avenue.
The 1.9 acre site is roughly rectangular and presently includes a portion of the old disused Graving Dock. Both sites are freehold and Des Lennon at JLLS has the complete details.
The Limerick City Development Plan 2004 identifies the Docklands area as a significant remaining major landbank for both “greenfield” and urban renewal redevelopment potential for the city.
It identifies the Docklands precinct as a key element for the implementation of the National Spatial Strategy and the development of this area is to be viewed as an adjunct to the city centre, whilst providing an opportunity for the provision of a range of mixed land uses which will add value and employment opportunities for the city.
