Dublin 1: The first 30 apartments at a new Section 23 tax relief scheme in Dublin city centre are being launched from plans this week by Hooke & MacDonald.
Liberty Corner on James Joyce Street in Dublin 1 offers a mix of one-bedroom, two-bedroom and penthouse apartments. One-bedroom apartments from 44 sq m (470 sq ft) start at €270,000 while two-bedroom apartments of 70 sq m (750 sq ft) cost from €370,000.
The development, a flagship project in Dublin City Council's Integrated Area Plan, is mid-way between Connolly Station and O'Connell Street, and is opposite the new Bank of Ireland Treasury & International Banking offices.
Section 23 tax relief, which is due to be terminated by the Government in 2004, allows investors tax-free rental income on the apartment being purchased and on any other rental income sourced from property in this State.
Owner occupiers at Liberty Corner can get tax relief against all income, including PAYE, on 50 per cent of the net purchase price in equal amounts over a 10-year period; owner occupiers are also exempt from stamp duty.
All the apartments at Liberty Corner have fitted kitchens and fitted wardrobes in bedrooms. Most of the two-bedroom units have the main bedroom en suite. All units are accessed off a central landscaped courtyard.
Liberty Corner will eventually comprise 58 apartments. The development also consists of an enterprise space, national dance centre, arts centre, a crèche, offices and retail units. It is four storeys over ground floor level with a penthouse floor set back.
Bookings for Liberty Corner can be made at the offices of Hooke & MacDonald's offices at 118 Lr Baggot Street, Dublin 2 on weekdays from 8.30 a.m. to 5.30 p.m. and this Saturday from 11 a.m. to 1 p.m.
