'Cheapest homes in Limerick' set to sell for almost three times their asking price

TWO derelict properties in the city centre which went on the market for a combined €90,000 are set to be sold for almost three times’ this value.

No 3 and No 4 Creagh Lane, on King’s Island were dubbed the cheapest homes in Limerick when they went to market earlier this year.

No 3 was on sale for €40,000, while neighbouring property was listed at €50,000.

The properties are both described as “derelict” and “in need of complete refurbishment works”.

Limerick City and County Council had acquired the properties compulsorily in July, 2020.

A sale was agreed for the two properties for a total of €255,000 in June.

But then the council withdrew them from sale, at the behest of Mayor John Moran, who said he wanted to explore keeping them in public ownership.

Ultimately, a sale has now been agreed with two buyers.

No 3 Creagh Lane is expected to be sold for €125,000 with its neighbour set to go for €135,000, both cash sales – €260,000 in total.

Two separate business people have agreed to buy the properties to accommodate their staff working nearby.

Councillors are expected to rubber-stamp the sale at a meeting later this month.

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‘Cheapest homes in Limerick’ set to sell for almost three times their asking price