LIMERICK & DUBLIN - FROM €197,000 & €265,000:TWO SCHEMES with tax breaks, one in Dublin and one in Limerick, come to the market this week.
Hooke & MacDonald is selling apartments in a new phase at Greeg Court on Parnell Street in Dublin 1. The scheme is firmly aimed at investors with a full furniture package and Section 23 relief.
Located at the junction of Parnell Street and Moore Street, the eight-storey building was built by the Parnell Partnership in 2006 and has been let out. The 126-unit scheme is now being sold vacant.
One-bed apartments with 44sq m (480sq ft) are priced from €265,000 and two-bed units with 65sq m (700sq ft) of living space are priced from €350,000.
Prices have been scaled back since the scheme was first launched in October 2007 when one-beds started at €295,000 and two-bedroom units cost from €390,000.
There are a limited number of parking spaces for sale also. They cost an additional €40,000.
Purchasers of Section 23 units can offset the qualifying relief against rental income from any type of property in Ireland. Owners usually have to hold on to a property for 10 years to fully benefit from this tax break.
Meanwhile, in Limerick the latest batch of apartments at Old Windmill Court in Limerick come to the market this week.
The scheme, located on Lower Gerald Griffin Street, comes with the benefit of Section 23 tax relief.
The scheme was designed by Murray O'Laoire and built by a Limerick-based consortium called the Old Windmill Court Partnership.
Old Windmill Court comprises 133 apartments in total, over 100 have been sold to date, mainly to investors.
The scheme is laid out over four buildings built around an enclosed internal courtyard. The scheme has 24-hour concierge service.
All units are now complete and ready to move into.
Joint selling agents Hooke & MacDonald and Sherry Fitzgerald O'Malley will be showing apartments at the scheme by appointment.
Two-bedroom apartments with 72sq m (770sq ft) are priced from €197,000. There are also nine two-bedroom penthouses available. They have around 88sq m (950sq ft) of living space and are priced from €217,500. Car-parking is €15,000 extra. At the most recent release of units at Old Windmill Court at the end of last year, two-bedroom apartments were priced at €257,500, but included furniture packages.
Penthouses back then had 107-149sq m (1,150-1,600sq ft) and were priced from €280,000 excluding fit-out.
Apartments are renting well, according to selling agent Des Donnelly of Hooke & MacDonald with two-bedroom units achieving around €850 a month.
Car-parking is available for an extra €15,000.
Greeg Court, Parnell Street, Dublin 1
Tax-break apartments aimed at investors with full furniture package
Agent:Hooke & MacDonald
Old Windmill Court, Lower Gerald Griffin St, Limerick
Section 23 apartments around enclosed courtyard
Agents:Hooke & MacDonald and Sherry FitzGerald O'Malley
