Dublin Docklands: from €395,000An off-plans apartment development on Ushers Quay includes Section 23 apartments with tax breaks for owner-occupiers and investors.
Hooke & MacDonald is taking bookings today at its Lower Baggot Street offices for 20 apartments at Mellowes Quay. A dozen of these are Section 23, while eight apartments without tax relief are lower priced.
The Mellowes Quay site is between the Civic Offices and Guinness's, travelling along Ushers Quay from O'Connell Bridge.
Under Section 23, investors can claim relief on all rental income in this state, including commercial. Owner-occupiers can set construction costs against all income, including PAYE, spread over a 10-year period.
The 12 apartments with tax breaks are divided among one, two and three-bedroom apartments. One-bedroom units of 43-52sq m (460-560sq ft) start at €395,000. Two-beds of 62-80sq m (665-860sq ft) cost from €500,000. A small number of three-bedroom units with tax incentives are also available, priced from €620,000 for 100sq m (1,065sq ft) of accommodation.
Eight apartments come without Section 23 relief and are less expensive. These cost from €350,000 for one-beds and €430,000 for two-bed units. Two three-bedroom apartments are priced at €525,000 and €725,000.
The apartments will come with contemporary kitchens and bathrooms, wall tiling and kitchen appliances. Small balconies will be included with most units. Car-parking will be at basement level. Completions are scheduled from June onwards.
Developer P Elliott & Co and architects Gilroy McMahon have designed Mellowes Quay around a series of landscaped courtyards. Eighty apartments are planned. The Local Government Management Services Board will occupy a five-storey office building which was the subject of a design competition and will face the river. The ground floor of the five and six-storey buildings will be used for office and retail, with apartments overhead.
