Limerick apartments prove a popular investor choice

INVESTORS seeking a shelter for rental income have snapped up units in a new Limerick development.

Over half of the 21 apartments at Rice’s Corner, Thomond Gate, have already been sold.

Two bedroom apartments, ranging in price from €250,000 to €260,000, are still available in the section 50 style development.

The stone-fronted three-storey building is scheduled to be finished next August, just in time for the autumn college term.

There have been a long list of section 50 developments in Limerick over the last two years.

What marks Rice’s Corner out is the fact that there are only a small number of units in this building.

“It will probably revert to an owner/occupier development in 10 years time.

“There is underground parking and some of these apartments have river views,” said auctioneer John de Courcy.

Rice’s Corner is just off Browne’s Quay, overlooking Thomand bridge, the river and King John’s Castle.

It’s a 10-minute walk to the city centre, and high rental returns are expected.

All units are fitted out, with designated parking for each apartment. A full management service will be provided under the terms of Section 50.