Agent Cushman & Wakefield is guiding a price of €3.5 million for a prime residential development opportunity in the sought-after residential area of Clonmacken, just 2km from Limerick city.
Extending to 24.41 acres, the site has full planning permission for 110 homes, and is being offered for sale by way of a licence agreement or an outright purcha se by the Nama-appointed receiver, Eoin Ryan of HLB McKeogh Gallagher Ryan.
Located in a strategic position adjacent to the North Circular Road, the proposed scheme will comprise a mix of 88 houses and 22 apartments, all of which will be accessed from the Condell Road.
While the scheme will be surrounded primarily by greenfield sites offering a semi-rural setting, future residents will still enjoy the benefit of a wide range of amenities owing to its close proximity to Limerick city.
Jetland Shopping Centre, Ennis Road Retail Park, The Gaelic Grounds, Thomond Park and a number of highly-regarded schools are all readily accessible from the site.
While the site’s proximity to Limerick city centre is one of its key attractions, the Condell road also offers ready and rapid access to the N18 and the M7 motorway.
John Buckley, director of Cushman & Wakefield’s Limerick office, said he expects to see strong interest in the Clonmacken site owing to the dearth of residential development sites the area.
“Development opportunities such as this are limited in the market, particularly ones which benefit from full planning permission and located in a prime residential location,” he said.
