Property investment firm seeks land to build 250 new homes in Limerick

A PROPERTY development firm is seeking land in Limerick in which to develop 250 new homes.

Fitzpatrick and Heavey Homes has unveiled its plan to get its workforce building houses on Shannonside.

In a bid to push this through, the company has said it will cover the Residential Zoned Land Tax on sites it purchases.

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Chief executive of Fitzpatrick and Heavey Homes Ciaran Fitzpatrick said: “Ireland’s housing crisis demands innovative and immediate solutions.

The Residential Zoned Land Tax is intended to encourage development, but it also places a financial strain on landowners who may not have the means to build. By absorbing this tax on any land we purchase, we are providing an immediate solution - offering landowners a viable exit while ensuring much-needed housing is developed without delay.”

Introduced under the latest Finance Act, the Residential Zoned Land Tax imposes an annual tax of three per cent on the market value of undeveloped, residentially zoned land.

It can mean substantial costs for landowners, particularly those who are unable to proceed with development.

Mr Fitzpatrick said: “This is a win-win situation. Landowners can avoid the financial strain of the tax, while we ensure that land is put to productive use - building homes for families and communities across Ireland. We encourage landowners to reach out to us as soon as possible to explore opportunities,” he added.

The development firm is already working on 147 new homes in the Offaly town of Tullamore and 75 in Birr.

It’s got some 89 houses planned in Wicklow, and 35 in Westmeath.

South of Limerick, it’s expecting to deliver 17 homes in Cobh, Co Cork.

And it handed over nine homes in Dublin last year.

For more information, contact Ciaran Fitzpatrick by email at ciaran@fitzheavey.com or call 01- 9060800.