Co Carlow: from €435,000:Section 23-type houses go on sale this weekend at Killerig Lodge, a golf and hotel resort between Tullow and Carlow town in Co Carlow. Viewing is by appointment with selling agents Sherry Fitz-Gerald McDermott.
This is the final phase, and 11 three-bedroom houses are for sale on a leaseback basis, priced from €435,000 for a 104sq m (1,124sq ft) mid-terrace house. End terraces cost €440,000 and semi-detached houses are €445,000. All will soon be ready for occupation.
The houses come fully furnished and fitted out, ready to lease back to the five-star Ramada hotel for a 21-year term. Three years' rent is guaranteed at €18,000 per annum.
The resort is up and running and each of the 37 golf lodges are finished to four-star standard. Widescreen televisions and DVDs, kitchen appliances and utensils are part of the package. Most of the houses have good views over the golf course.
These are holiday homes and cannot be used as residential units under current planning permission. But owners may take advantage of a 10-year break clause and use them as holiday accommodation after this.
Owners are obliged to enter into a 21-year lease arrangement with Killerig Golf and Country Club, who will rent them out to visitors as an integral part of the Ramada Hotel. A good selection of facilities is available in the resort. The hotel includes 42 bedrooms and two presidential suites, conference and banqueting facilities and a pool, sauna, steam room and beauty salon.
Capital allowances of up to 85 per cent of the purchase price are available, to be set against rental income in the Irish Republic. A management company will look after day-to-day operations. The developer is JPC & Browne and architects are Patterson Bannon of Carlow.
