SwordsOwners will pool tax free rent on holiday homes by a golf course on the edge of Dublin. Jack Fagan, Property Editor, reports
It is rare enough that investors in the Dublin area have an opportunity to buy a tax-driven holiday home on the edge of a golf course. That is one of the reasons why Ronan O'Driscoll of Hamilton Osborne King expects an early sell out of 20 three-bedroom homes in a stylish new golf resort taking shape at Roganstown, near Swords in north Dublin.
The upmarket golf complex will also include a 52-bedroom hotel due to open in December, a leisure centre and an 18-hole golf course designed by Christy O'Connor junior which will be ready to play from next May. Roganstown Golf & Country Club is off the Rathbeale Road between Swords and Ashbourne, about four miles from Swords.
McInerney Construction has developed the holiday homes with the McLoughlin family, who will run the complex. With all the long-established golf clubs on the outskirts of the city no longer accepting members and heavily booked by visiting golfers, Roganstown will be in keen demand from Dublin golfers because of the standard of its facilities and its convenience to the city.
Each of the 20 three-bedroom terraced and semi-detached houses going on the market at Heyward Mews this weekend will be fully equipped and furnished to a four-star Bord Fáilte standard. Leading holiday homes rental specialists Self-Catering Ireland is to handle the rental of the homes. Rental income is to be pooled and divided among the owners. McInerney is guaranteeing a rent for the first two years of €15,000 per annum after management costs are taken into account. An unusual feature of the homes is that they attract Section 23 tax breaks, allowing investors to offset rental income on all properties in Ireland against the cost of purchasing at Roganstown.
Prices will range from €375,000 for a fully-furnished townhouse and from €395,000 for a semi-detached home. Unusually, prices exclude VAT which is normally levied at 13.5 per cent and, subject to individual circumstances, may then be reclaimed by the investor.
McInerney has not skimped on facilities in the new homes which vary in size between 105 to 110 sq m (1,140 and 1,190 sq ft). Each house has three double bedrooms, all of them with en suites. There are terrific livingroom/diningrooms and kitchens with excellent wall/floor units and integrated Neff appliances.
McInerney is to launch a development of detached houses shortly on the edge of the Roganstown course. Showhouses will be open on Saturday and Sunday between 3 p.m and 5 p.m. and by appointment with Hamilton Osborne King.
