Parnell Street, Limerick City

For Sale by Private Treaty
Guide Price: €500,000

Overview

HPS Real Estate is delighted to bring to market two adjoining three-storey commercial units, positioned directly beside the Railway Hotel on Parnell Street, Limerick City, opposite Colbert Train Station.

These units form part of the wider Railway Hotel holding but are available as a standalone lot, offering investors and developers a highly attractive city-centre opportunity with established precedent for significant redevelopment.

Previous Planning Permission

The property previously benefitted from full planning permission (now lapsed) for the demolition of the existing buildings and construction of a four-storey mixed-use development extending to approx. 1,040 sq.m.

The approved scheme provided for:

Ground-floor retail unit of 210 sq.m. with direct access from Parnell Street.

10 apartments across the upper three floors:

8 x one-bedroom units

2 x two-bedroom units

All associated site works to facilitate the development.

Although this permission has now expired, it demonstrates the strong potential to deliver a high-density mixed-use scheme, complementing the adjoining Railway Hotel property.

Location

The commercial units enjoy a prime city-centre position adjoining the Railway Hotel and opposite Colbert Station, Limerick’s main transport hub. This location ensures high daily footfall, excellent connectivity to rail and bus services, and immediate proximity to retail, hospitality, and commercial occupiers.

The area is experiencing significant regeneration and investment, reinforcing demand for new residential and mixed-use developments.

Zoning & Incentives

Zoned City Centre under the Limerick Development Plan 2022–2028, supporting a broad range of uses.

Located within the Living City Initiative (LCI) area, offering up to €200,000 in income tax relief on qualifying refurbishment or conversion works.

Summary

Two adjoining three-storey commercial units, positioned beside the Railway Hotel.

Landmark location opposite Colbert Train Station in Limerick City Centre.

Previous planning (lapsed) for a 1,040 sq.m. four-storey mixed-use development with retail and 10 apartments.

Excellent redevelopment potential with clear precedent established.

Guide Price: €500,000.

Contact

Ryan Hanly, Managing Director
HPS Real Estate
E: ryan.hanly@hpsproperty.ie
| M: +353 87 638 9680
13 Adelaide Road, Saint Kevin’s, Dublin 2, D02 P950
PSRA Licence No: 004782-010589
www.hpsproperty.ie