CRANES at developer Liam Carroll’s abandoned Parkway Valley site on the Dublin Road were dismantled this week, after being bought by construction companies in Germany and the Netherlands.
The towering cranes gracing Limerick’s skyline during the boom were once a sign of its advancement and prosperity.
But now those cranes are being dismantled for sale in competitive auctions in Dublin for distribution in mainland Europe.
The cranes were “sold in the sky”, according to Dublin based Wilsons Auctions, with many purchasers bidding online and paying the dismantling and transportation costs.
“There was a lot of demand with over 1000 people on site and another 100 buyers online. The cranes made the European norm in terms of price, racking up tens of thousands of euro,” said a spokesperson.
Ireland’s first-ever dedicated crane auction took place in recent weeks, and due to the demand from across Europe and beyond, a second international auction will be held on March 26 at the company’s premises on the Naas Road in Dublin.The liquidator moved in on the Limerick site, and all eight cranes from the Parkway Valley were sold.
Construction started four years ago on the €150m Parkway Valley site – a 92 unit development, which was to include 16 restaurants and cafes, two financial
units, an ice rink, skate park, theatre, concert venue, and 1,600 car park.
It was due to open last year and become Limerick’s largest shopping centre and among the largest shopping complexes in Ireland.
Mr Carroll halted development on the massive Dublin Road site in 2008 after failing to secure anchor tenants, with Tesco Extra and Penney’s being advertised in promotional material to occupy these slots in the 250,261 square foot development.
Some 300 construction workers were initially involved in the construction of the “prestige” development by Dublin based Dunloe Ewart. However, Mr Carrollwas one of the first ten developers to have his loans transferred to the National Asset Management Agency with his myriad of
companies amassing debts of €1.2bn.