Co Kerry: The prospect of acquiring a tax-effective foothold in Co Kerry will send fans of this scenic part of the country searching for their chequebooks.
Killeen, a new development of apartments and houses, will face the Carnegie Secondary School on Iveragh Road, part of the Ring of Kerry route.
Exiled Kerryman Billy O'Sullivan of Dublin and Jim Burns of Killorglin - joint agents for the scheme - will be taking bookings at two show units, open for viewing in Killorglin this Saturday and Sunday from 2 p.m. to 4 p.m. or by appointment.
This is a Section 23 development with 85 per cent capital allowances, almost built and ready to move into by December. The first of its kind in Killorglin, Killeen is the project of Laune Properties which is headed up by Brian McCarthy, principal of financial services group Fexco.
Prices start at €175,000 for ground floor two-bedroom apartments of 74 sq m (794 sq ft), rising to €289,500 plus for a substantial four-bedroom house with 122 sq m (1,314 sq ft) of accommodation.
One three-bedroom apartment for €249,000 is an impressive 121 sq m (1,300 sq ft). Wall and floor tiling and smart kitchens are standard features and two car-parking spaces come free.
Under the rules of Section 23 properties, investors can offset rental income from all Irish properties against tax over a 10-year period. A generous fit-out budget of €10,600 for the apartments and €18,500 for the houses will provide all furniture, electrical goods, carpets and light fittings.
Expected monthly rental income for Killeen is around €650 for the apartments and €1,000 for the houses.
The presence of the Fexco headquarters and multi-nationals Fujisawa and Klinge in the town will boost confidence in the investment value.
The entire development of 15 apartments - all two-bedroom apartments and one three-bedroom unit - and five four-bedroom houses are for sale this weekend.
Each unit is fitted out to a high specification, with good quality fitted kitchens and en suites off the main bedrooms.
The houses will have fully landscaped front gardens and seeded back gardens.
Each apartment has either a balcony or small terrace. Construction is well under way and owners are expected to take possession before the end of the year.
