Wealth management company Finance Life is hoping to tempt Irish pension holders into an interesting residential investment opportunity in Dublin's docklands.
South Dock Quarter is an eco-friendly apartment complex on the corner of Ringsend Road and South Lotts Road in Dublin 4.
The scheme, developed by Monrick Ltd, comprises 80 one, two and three-bedroom apartments as well as office and retail units. The quarter will also be the new home to Arup Consulting Engineers.
Finance Life is selling 55 of these apartments through a tax-efficient pension contract.
Prices start at €370,000 for one-bedroom apartments with 49sq m (527sq ft), €475,000 for two bedroom apartments with 58sq m (624sq ft) and €595,000 for three-bedroom apartments with 88sq m (943sq ft).
The scheme is aimed at pension holders who are interested in diversifying their pension funds, "People who want to get a foot hold in the Dublin property market without the headaches," says Eamon McGrath from Finance Life.
The company will centrally oversee the purchase, financing, letting and management of your property at a cost of .6 per cent of the price of the asset.
Apartments come with a full turn-key furnishing package.
A corporate letting company has signed up to rent all 55 apartments for the next 10 years and Finance Life predicts an initial yield of at least three per cent. Rent will be paid tax-free directly into the owner's pension fund.
The level of equity required ranges from €133,000 to €202,000 and investing involves transferring funds from existing pension arrangements or making a new contribution.
