ONE OF Limerick's most notable cultural spaces Ormston House faces possible closure, its board of directors has confirmed this weekend.

Ormston House Cultural Resource Centre has been showcasing unique artistic and cultural exhibitions and events at the iconic Patrick Street building since 2011.

Ormston House, which encourages increased participation in the arts, is run on a voluntary basis.

However, its board of directors has said it is now "operating on a precarious and uncertain basis" as the building is being sold on the open market, and they do not possess the funds to match the market price of the site.

The Ormston House team made it #OrmstonHome; a place for support and cups of tea and laughs and we can't just sit back and leave it close. No thank you. @LimerickCouncil do the right thing please and thanks. July 21, 2018

In a statement, issued to the Limerick Leader this Saturday afternoon, a spokesperson for Ormston House confirmed its future is uncertain.

"Ormston House has been placed for sale on the market. Ormston House Cultural Resource Centre has occupied the building for seven years but faces possible closure. Throughout that time, we have worked hard to become a truly accessible space for the whole Limerick City community. Ormston House is a unique cultural space, operating at street level and open to all forms of creative and community expression. We are proud of our work and grateful to our many supporters in Limerick and beyond,”

The statement adds that Ormston House is now operating on a” precarious and uncertain” basis as the building is being sold on the open market.

“We operate on a predominantly voluntary basis and do not possess the funds to match the market valuation placed on the building. The board of directors will review the circumstances in August with a decision whether or not to continue operating beyond the end of the current year to be made then. A public meeting will also be held to engage our supporters in the challenges it now faces."

A spokesperson for Limerick City and County Council told the Limerick Leader: "Limerick City and County Council has been proactive in supporting Ormston House in their ambition to purchase the premises as we recognise the strategic importance of this important cultural resource in Limerick."