Value of derelict shopping centre site drops €80m in 2 years

A SITE in Limerick, bought for the development of a massive shopping centre has fallen in value from €92.2 million two years ago, to a current value of €12.5m.

The proposed €350m Opera Centre was hailed as a shopping mecca of the future.

The site consisted of 44 separate properties in the Patrick Street area, which is now lying idle.