Monday 21 November 2011

Urban regeneration: Council buys Limerick Opera shopping centre site from Nama

LIMERICK CITY Council has bought the site of the proposed Opera shopping centre in Limerick city centre from the National Asset Management Agency.

The property was bought at the peak of the boom for €110 million in a joint venture deal between Anglo Irish Bank’s private banking division and Regeneration Developments, which is owned by developers Jerry O’Reilly, Terry Sweeney and David Courtney, former owners of retailer Superquinn.

Frequently cited as one of the most excessive property deals of the boom, the site was returned to the market in September at a price of €12.5 million.

Read the article @ The Irish Times

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