Limerick Race Company is to sell a prime mixed use development site off Dock Road and South Circular Road, close to Limerick city centre.
The 116.5-acre site at Greenpark was home to Limerick’s racecourse for over 130 years, closing in 1999.
It is a site embedded in Irish history, hosting both President John F Kennedy in 1963 and Pope John Paul II in 1979, which attracted a crowd of 400,000.
According to joint agents, Savills (021-4271371) and Cushman & Wakefield (061-418111), the mixed used development site is the largest to come up for sale in Limerick for over a decade.
Under the Rebuilding Ireland initiative, the site has been identified as a Major Urban Housing Development Site capable of accommodating 700 housing units.
To fast-track their delivery it has been allocated €4.93m of infrastructural aid to upgrade roads and services.
The agents say the site consists of undeveloped land extending to approximately 47.16 hectares.
It has the benefit of partial infrastructure in place in the form of an access road from the Dock Road currently used to access Limerick Greyhound Stadium.
It is a level site, with services available for connection which were upgraded in 2007 to cater for future development.
The land is bounded by the Alandale development to the north-east.
This gives direct access to Mary Immaculate teaching college, with a student population of over 5,000.
The site, which is walking distance to the college, is also less than 1.5 km from Limerick centre.
Zoning of the area is for a large-scale mixed use development that could include residential, office and student accommodation.
The agents say it has the potential “to shape the future of Limerick city” and its population of just under 100,000.
Employers in the region include Dell, EMC, Uber, Regeneron, Analog Devices, Cook Medical & Northern Trust.
The city is home to three third level academic institutions, located 25 km from Shannon Airport with access to excellent road and rail networks.
The site is guiding at €12m with ‘Best Bids’ due by Thursday, April 11.