A STAGGERING euro 4.3m has been agreed for a Limerick city residence, standing on approx. half-an-acre-easily an all-time record for a home the Mid-West.

‘Shelbourne’ situated on the much-sought after NCRd., and alongside the rear entrance to the Holy Rosary Church, is likely to be demolished by its new owner, and replaced with 18 apartments.

There was a lot of interest in the property, mainly from developers, but the Limerick Post has learned that a prominent businessman also gave chase, opting out of the race at euro 4.2m.

It was his intention to replace the existing 4-bed house, which is need of a major upgrade, with a new family home.

Limerick auctioneer Gordon Kearney of Rooneys, who negotiated the transaction, told the Limerick Post that he was not in a position to comment other than contracts between vendor and purchaser were waiting to be exchanged.

Posted: 09|7|06 at 3:11 pm. Filed under: Auction News.