Hanging Gardens site sale imminent

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photo 2_mTHE imminent sale of a major development site on Limerick’s Henry Street would show “renewed confidence in the city centre”. The Hanging Gardens site, which includes the former GPO Building — a protected structure — was but up for sale in January by NAMA for €800,000.

Before the downturn, developer Robert Butler invested €15 million into the property. Auctioneer Gordon Kearney of Rooney’s said the sale which is hoped to be signed off on by the end of this week would “bode well for Limerick”.

“If a developer is willing to take on a high end office block with the capability to house 600 staff, it definitely shows renewed confidence in the city centre,” said Mr Kearney.