The Railway Hotel Development

Railway Hotel & Adjoining Retail Units, ParnellStreet, Limerick City For Sale by Private Treaty

Lot 1: Entire Holding – Guide €2,495,000
Lot 2: Retail Units Only – Guide €500,000
Lot 3: Railway Hotel Only – Guide €1,995,000

Overview
HPS Real Estate is pleased to present to the market the Railway Hotel andadjoining retail units, a landmark city-centre development opportunity locateddirectly opposite Colbert Train Station, Limerick. This prime holding combinesa three-storey hotel building (protected structure) with two adjoiningthree-storey retail units, offering exceptional scale and redevelopmentpotential in one of Limerick’s busiest and most connected locations.

Available in three distinct lots, the property provides flexibility for a widerange of investors, developers, and occupiers.


Lot 3 – Railway Hotel (Guide €1,995,000)
The Railway Hotel is a substantial three-storey protected structure extendingto 32 bedrooms. The property has been stripped internally, leaving a cleanshell suitable for immediate refurbishment or redevelopment.

The hotel benefits from full planning permission (Ref. 21/1554) for apurpose-built student accommodation development comprising 116 bed spacesacross 25 apartments. The scheme is designed to integrate the historic hotelfaçade with modern new-build elements ranging from three to seven storeys.


The approved student accommodation scheme includes:

- 25 apartments providing a mix of studios and multi-occupancy units.
- A ground-floor café with direct street frontage to Parnell Street.
- On-site laundry facilities.
- Secure bicycle and bin storage for residents.

This consented scheme provides an immediate, ready-to-activate pathway fordevelopment, addressing the acute shortage of dedicated student housing inLimerick. With over 35,000 students across the University of Limerick,Technological University of the Shannon, and Mary Immaculate College, demand isconsistently outpacing supply, underpinning strong long-term rentalperformance.


Lot 2 – Retail Units (Guide €500,000)
The two adjoining three-storey commercial units with rear access presentfurther redevelopment potential. These units previously had planning permission(since lapsed) for the demolition of the existing buildings and construction ofa four-storey mixed-use scheme extending to 1,040 sq.m.

The permitted scheme provided for:
- A ground-floor retail unit of 210 sq.m. with direct access from ParnellStreet.
- 10 apartments across three upper floors comprising 8 x one-bedroom units and2 x two-bedroom units.
- Associated site works to facilitate the scheme.

Although this permission has expired, the precedent demonstrates the viabilityof intensifying residential and commercial use on the site, furtherstrengthening the overall development potential of the holding.


Lot 1 – Entire Holding (Guide €2,495,000)
The combined sale of the Railway Hotel and adjoining retail units offers anunrivalled city-centre opportunity. Together, the lots provide a site ofsignificant scale, benefiting from planning permission for large-scale studentaccommodation alongside precedent for additional mixed-use development.

This flexibility allows the purchaser to phase development or deliver acomprehensive masterplan, depending on investment objectives.


Location
The property occupies a landmark position directly opposite Limerick’s ColbertStation, the city’s principal transport hub. The location ensures strong dailyfootfall and excellent visibility. The wider city centre, including People’sPark, Arthur’s Quay, and the retail core, are all within a short walk.

Limerick has become one of Ireland’s fastest-growing cities, benefiting frommajor investment in education, healthcare, life sciences, technology, andinfrastructure. Its growing student population, vibrant cultural scene, andcentral position on the Wild Atlantic Way continue to drive demand for qualityaccommodation and hospitality.


Zoning & Incentives
Zoned City Centre under the Limerick Development Plan 2022–2028, with theobjective to “protect, consolidate and facilitate the development of the citycentre.”

Located within the Living City Initiative (LCI) area, a government-backedscheme providing income tax relief of up to €200,000 on qualifyingrefurbishment and conversion works.


Summary
- Landmark property in Limerick City Centre, opposite Colbert Station.
- Available in three distinct lots with flexible acquisition options.
- Railway Hotel: 32-bedroom protected structure with full planning permissionfor 116 student bed spaces.
- Retail Units: Previous planning (lapsed) for 1,040 sq.m. mixed-usedevelopment with retail and 10 apartments.
- Combined guide price: €2,495,000.
- Strong demand drivers from Limerick’s student population, hospitality sector,and city-centre growth.
- Attractive incentives through the Living City Initiative.

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