A PROFILE site with 140m frontage to Limerick City’s Dock Road, and in an area earmarked as an economic development hub with docklands focus has been put to market for the Shannon Foynes Port Company.
Carrying a €1.2m price guide and offered by private treaty, is 6.7 acres on the Dock Road, previously occupied by Heiton Buckley, as both retail outlet and stores, but unused in recent years.
It is set in a section of 75 acres of land by the Dock Road which last year was targeted for strategic redevelopment.
Shannon Foynes Port Company last March, via minister of state at the department of Finance, Public Expenditure and Reform, Patrick O’Donovan, launched a framework strategy with a minimum investment cost of €100m to retain the working port at Limerick, and to redevelop surplus port assets at the Ted Russell Docks, Corcanree Business Park along with refurbishment of the Bannatyne Mills.
Shannon Foynes Port Company has appointed joint agents Savills and Power Property to sell the €1.2 m-guided redevelopment site in a heavily trafficked setting on the Dock Road, close to access points to the M20, M7, Shannon Airport (35km away) and the ports of Limerick (1km) and Foynes (37km).
They described it as “a prime parcel of brownfield lands which could be developed for a number of different uses, located in the heart of the commercial hub of Limerick city on the Dock Road”.
It is 1.5km from O’Connell St within a walk of Mary Immaculate College, and adjacent occupiers include Fleming Medical, Enterprise Cars and McMahon’s Builders Providers.
They say it’s well located in the city with a population growing to about 100,000, with growth expected by Government 2040 National Development Plans, with the city known for its third-level colleges, regional renewal, strong sporting credentials and the presence of major employers such as Dell EMC, Uber, Regeneron, Analog Devices, Cook Medical, and Northern Trust.
The Dock Road land, currently with several older style buildings on it, is zoned to allow development of “a significant logistics/commercial opportunity such as retail/logistics warehousing, a car dealership or office development, subject to planning permission”.
“Such a development opportunity as this is a rare occurrence in the heart of Limerick city,” says joint agents Powers and Savills.
“With a wide number of potential uses for the site itself, as well as the benefit of the site being in the heart of Limerick city’s commercial core, we anticipate a good level of interest from developers and retail operators who would see this as an ideal opportunity to acquire an extensive high profile site within close proximity of the city centre.”
The current Light Industrial zoning (under the currently extended City Development Plan 2010 – 2016 allows retail warehousing, wholesale unit, logistic hub, car dealership, crèche/nursery, garden centre, health centre and office provision and “many other uses are open to consideration and subject to planning permission”, say the auctioneers.
DETAILS: Savills 021-4271371, Power Property: 061-318 770