LIMERICK Regeneration Agency is in advanced talks with the Irish Amateur Boxing Association to open a high performance boxing unit in Southill - the first outside Dublin.
The agency has acquired a section of the former Fulflex building in Galvone Industrial Estate free of charge from its current owner and is to open a 14,000 square foot boxing unit in early 2012.
And former world champ Barry McGuigan is interested in opening a boxing academy in the unit.
Kieran Ryan, assistant director of Limerick Regeneration said the new building has already been secured and should be fitted out by early 2012.
â€œWeâ€™re delighted with this news which is fantastic for both Southill and Limerick,â€ he said.
Mr Ryan described the building as being â€œin a turn key stateâ€™, given that it was inhabited by a plumbing company until recently. The keys to the building have now been handed over to Gerry Barry, president of Southill boxing club, who will oversee its clean-up.
Mr Ryan said the agency hope to secure a capital grant of â‚¬25,000 from the IABA to install equipment in the boxing unit, which is expected to be matched by funding from Regeneration.
An investor from the private sector is interested in purchasing a boxing ring for the unit, which would cost in the region of â‚¬5,000.
The total cost of fitting out the unit would be around â‚¬30,000.