Dublin 7/from €395,000: A new Section 50 student accommodation scheme close to DIT Bolton Street and the Law Library offers tax relief on 75 per cent of the purchase price.
Brunswick Court is on North Brunswick Street, Dublin 7 near the regenerated Smithfield area and within walking distance of the city centre.
Selling agent McPeake Auctioneers is quoting from €395,000 for three-bed units, from €420,000 for four-bedroom units and from €580,000 for five-bedroom units. These come fully furnished and fitted out for student letting, down to cutlery and crockery.
Developer Tony Gannon is providing a full management and letting service and will have tenants in place prior to sales closing. Completions are expected within eight to 10 weeks. Income is guaranteed for year one, at €15,950 for 55.7sq m (600sq ft) three-bedroom apartments, €21,000 for four-bed apartments and €26,500 for 111sq m (1,195sq ft) five-beds.
Each apartment unit has an entrance hall, sitting/diningroom with galley kitchen and three, four or five single bedrooms, all with en suite facilities.
To qualify for the tax benefits, which allow for relief on all rental income in this jurisdiction, the apartments must be available for letting during the academic year to students in a certified educational institution. Relief can be used flexibly to match each year's tax liability, with any unused relief able to be carried forward for use in subsequent years. After 10 years, investors can use the apartments for whatever purpose they wish.
Viewing is this weekend, starting tomorrow at noon.
