A SALE has been agreed for the 50,000 square foot, six-storey Thomas Street centre.
While those involved in the sale were remaining tightlipped as to the identity of the buyer of the unit, which is located on the corner of Thomas Street and Catherine Street, confirmation of the sale was forthcoming from Rooneys Auctioneers.
“We can confirm that a sale has been agreed for the entire building,” said Gordon Kearney.
The building was completed in early 2009 but lay idle for most of that year while various companies looked at it. It was due to be taken over in its entirety by a medical company in late 2009, but that deal failed to materialise, despite an application to Limerick City Council to change its use from retail-office space to medical / health services.
It is thought that a deal of this nature remains a possibility.
The building has been used by the innovative Creative Limerick scheme since 2010, with a number of artists inhabiting the various units through the Limerick City Council initiative.
These, which included the Occupy Space art gallery, which was based in the centre for two and a half years, as well as Rwandan artist Jean Ryan, fashion designers and a photography studio, have now moved out of the building but may yet be rehoused elsewhere in the city.
The scheme is run by the property management department in Limerick City Council and aims to utilise empty retail space at reduced overheads.
Mary Hayes of Limerick City Council confirmed that the building, seen as the flagship for Creative Limerick, had been vacated.
“They are leaving the building - we are looking at re-locating some of them where we can and new spaces for some more of them,” she explained.
“It was a great space, fabulous, but we would hope to have a flagship space again. Hopefully we might be able to sign up a number of buildings on one street, which should make some impact on the city in terms of occupying places and creating vibrancy, which is what the whole scheme is about.”