Residents living in the shadow of Limerick's Thomond Park are expected to get more than three times the market value of their homes in a deal with the Irish Rugby Football Union, it emerged last night.expansion
The union wants to buy and knock 12 houses at the Ballynanty end of the grounds to facilitate a stadium expansion with a capacity for 26,000 spectators.
After more than six months of negotiations between the sides it is now understood that some residents will get up to €450,000 for their homes from the IRFU.
An initial offer of €200,000 was rejected by the residents last year who were then invited to submit in writing their own valuations of their homes.
These valuations formed part of a feasibility study conducted by Arup Consulting Engineers with regard to the provision of a 26,000 capacity rugby stadium in the Limerick area.
The firm of engineers was hired in October to examine the merits of redeveloping Thomond Park as well as the possible development of three other sites.
The feasibility study results were received by the IRFU development committee's Munster branch 10 days ago and it is understood the report favoured the option of remaining at a redeveloped Thomond Park.
Residents living in the 12 houses, known locally as the "Banana block", each received letters yesterday confirming that the committee was now in a position to proceed with the purchase of their homes.
The letters, which were signed by Munster branch management chairman John Hartery and Pat Whelan of the IRFU, said that "unanimous agreement" had been reached to buy from all of the residents.
The letters further stated that rugby officials were now in a position "to finalise an agreement to sell to the MBIRFU to facilitate the development of Thomond Park".
Individual meetings are due to take place this evening between the residents and members of the Munster branch development committee at Thomond Park.
A spokesperson for the branch said last night that no official comment would be made until after tonight's meeting.
One resident, who did not wish to be named, said: "We've been told that they are willing to pay us what we are looking for and we were asked in the letter to ring and make an appointment to meet with them. I think it's just a matter now of signing on the dotted line."
She added: "We've been offered just under half a million."
Some residents of the Knocklisheen Road three-bedroom terraced houses have been in Ballynanty for more than 40 years. "I've been living here for 20 years but I've lived in the Ballynanty area all my life. We have to be given some kind of moving allowance," another resident said.