Dublin 1: from €295,000A central location, tax breaks and a full furniture package marks the apartment block at Greeg Court, Parnell Street, Dublin 1 as an investor-friendly opportunity.

Located on a prominent position at the junction of Parnell Street and Moore Street, the eight-storey building was designed by Anthony Reddy Associates in 2006 and has been let out. It is now being sold vacant.

Hooke & MacDonald is handling the release of the first 25 apartments in the 125-apartment scheme this week.

Three show units are opening today to coincide with the launch.

Prices start at €295,000 for 44sq m (480sq ft) one-bedroom apartments. Two-bedroom units with around 65sq m (700sq ft) of living space cost from €390,000. Three-bedroom units with 100sq m (1,076sq ft) are from €420,000.

Car-parking spaces are available for an extra €40,000 and maintenance fees will range from €1,290 to €1,680.

Greeg Court is a Section 23 development so it should prove of interest to investors, especially given that these reliefs are due to be terminated next year.

Being ready for immediate occupation by tenants, purchasers can claim their relief for the 2007 tax year offsetting the qualifying relief (50 to 72 per cent) against rental income from any type of property in Ireland.

Owners usually have to hold on to a property for 10 years to fully benefit from this tax break.

However, as this building is already one year old, they will only have to keep the apartment for nine years.

Rents for a two-bedroom apartment in the scheme will be in the region of €1,350-€1,500 a month, according to the sales agent Hooke & MacDonald.

Greeg Court is near the busy shopping area of Henry Street and O'Connell Street, and convenient to Temple Bar and the Abbey Street Luas stop.

There are several landscaped courtyards and roof gardens within the scheme.

Inside, the decor and fit-out is contemporary.