Offices&RetailThe final phase of a mixed-use development that offers a rare opportunity to acquire modern commercial premises in the city centre with the added benefit of capital allowances has come on the market off Parnell Square in Dublin 1. Agent Finnegan Menton is handling the sales.

Ivy Exchange in Granby Place comprises own-door office and showroom units along with two live/work units and a gym. The release represents the last phase of the Cosgrave Group's highly successful Ivy Exchange development in which the apartments were completely sold out by word of mouth. It is the availability of capital allowances and the central location of the commercial units that is likely to attract keen interest from both investors and owner-occupiers.

The development is located on either side of Granby Place just off Parnell Square and directly opposite the side door of the Rotunda Hospital.

The own-door offices comprise two-storey units of 111.4-371.6sq m (1,200-4,000sq ft). These have double height glazed frontages, air conditioning and raised access floors which will make them appealing to graphic designers, architects, photographers and other professionals. The units range in price from €750,000 to €2,850,000.

The tax incentives in the form of capital allowances are calculated on about 75 per cent of the purchase price. In the case of owner-occupiers, these allowances are available against trading income whether corporate or personal and for investors it is available against Irish rental income in the same format as the familiar section 23 type investments.

Additionally, there are two live/work units which are accessed off Parnell Street. These combine an office area on the ground floor of about 44.5sq m (480sq ft) combined with either a two-bedroom or a three-bedroom unit at first floor level.

Both units total about 125.4sq m (1,350sq ft) and are for sale for €680,000 each. The office and live/work units come with one car-parking space per unit in an underground car-park.

The gym is offered for sale or to let and is located on the first floor at Granby Place. It extends to about 92.9sq m (1,000sq ft), but could be extended into an adjoining unit to total about 371.6sq m (4,000sq ft).

The development will be completed by the end of March and the show unit is now available to view by appointment.