Parnell Street, Limerick City, Co. Limerick, V94Y328

Railway Hotel & Adjoining Retail Units, Parnell Street, 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 and adjoining retail units, a landmark city-centre development opportunity located directly opposite Colbert Train Station, Limerick. This prime holding combines a three-storey hotel building (protected structure) with two adjoining three-storey retail units, offering exceptional scale and redevelopment potential in one of Limerick's busiest and most connected locations. Available in three distinct lots, the property provides flexibility for a wide range of investors, developers, and occupiers. Lot 3 - Railway Hotel (Guide '¬1,995,000) The Railway Hotel is a substantial three-storey protected structure extending to 32 bedrooms. The property has been stripped internally, leaving a clean shell suitable for immediate refurbishment or redevelopment. The hotel benefits from full planning permission (Ref. 21/1554) for a purpose-built student accommodation development comprising 116 bed spaces across 25 apartments. The scheme is designed to integrate the historic hotel faé§ade 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 for development, addressing the acute shortage of dedicated student housing in Limerick. With over 35,000 students across the University of Limerick, Technological University of the Shannon, and Mary Immaculate College, demand is consistently outpacing supply, underpinning strong long-term rental performance. Lot 2 - Retail Units (Guide '¬500,000) The two adjoining three-storey commercial units with rear access present further redevelopment potential. These units previously had planning permission (since lapsed) for the demolition of the existing buildings and construction of a 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 Parnell Street. - 10 apartments across three upper floors comprising 8 x one-bedroom units and 2 x two-bedroom units. - Associated site works to facilitate the scheme. Although this permission has expired, the precedent demonstrates the viability of intensifying residential and commercial use on the site, further strengthening 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 an unrivalled city-centre opportunity. Together, the lots provide a site of significant scale, benefiting from planning permission for large-scale student accommodation alongside precedent for additional mixed-use development. This flexibility allows the purchaser to phase development or deliver a comprehensive masterplan, depending on investment objectives. Location The property occupies a landmark position directly opposite Limerick's Colbert Station, the city's principal transport hub. The location ensures strong daily footfall and excellent visibility. The wider city centre, including People's Park, Arthur's Quay, and the retail core, are all within a short walk. Limerick has become one of Ireland's fastest-growing cities, benefiting from major investment in education, healthcare, life sciences, technology, and infrastructure. Its growing student population, vibrant cultural scene, and central position on the Wild Atlantic Way continue to drive demand for quality accommodation and hospitality. Zoning & Incentives Zoned City Centre under the Limerick Development Plan 2022-2028, with the objective to "protect, consolidate and facilitate the development of the city centre." Located within the Living City Initiative (LCI) area, a government-backed scheme providing income tax relief of up to '¬200,000 on qualifying refurbishment 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 permission for 116 student bed spaces. - Retail Units: Previous planning (lapsed) for 1,040 sq.m. mixed-use development 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.