The former Ard Rí hotel in Waterford city is about to hit the market for €8-9 million.
The well-known derelict site sits in a prominent position overlooking Waterford on the Ferrybank side of the River Suir.
The hotel has been closed since 2005, having changed hands on two occasions since.
The investment opportunity is set to go on sale with 45 acres of adjoining zoned land.
Speaking to WLR FM selling agent, John Rohan of Sherry Fitzgerald Rohan, said that this is fantastic news for Waterford.
"This is land that can be developed for housing. It's a positive move for Waterford. It's a positive decision. We will get developers locally, nationally, and possibly internationally coming in here wanting to develop this. There is a demand for housing for Waterford. Such a block of land has never come up - ever."
Image: Sherry Fitzgerald Rohan