The former home of the Bishop of Limerick Dr Donal Murray has been put on the market with an estimated price tag of €20 million. The Georgian residence situated on a 6.4 acre site went on sale yesterday, with tenders to be opened early next month.
Located on the North Circular Road, one of Limerick's most sought after address, "Kylemore" is for sale in three separate lots. Lot 1 is the house on one acre with a guide price of €5 million plus; the second is over five acres of land which has a guide price of €15 million and the third is the house and lands valued at over €20 million.
Speaking to yesterday's Limerick Leader newspaper John de Courcey of De Courcey auctioneers who are handling the sale said: "What we are telling potential clients is that the guide price is €20 million plus."
A spokesman for Limerick Diocesan Office said yesterday the proceeds of the sale would be used to provide a capital injection to the fund which provides for the needs of sick and retired priests.
It is understood some of the money will also be used to clear the church's €2.4 million debt for the refurbishment of St John's Cathedral.
One of the obvious favourites to purchase Kylemore, according to local speculation, is millionaire property developer Aidan Brookes whose family home adjoins the Georgian residence.