Cork city: from €330,000 A Cork city student let apartment scheme which provides Section 50 tax relief is selling this week through Cork agency Irish & European.
Parchment Square is located off Model Farm Road on the western end of the city, adjacent to Cork Institute of Technology (CIT) and linked to the college via a walkway.
Eleven three-bedroom apartments are for sale, ranging in size from 71-80sq m (765-810sq ft) and costing from €330,000 to €341,000. This second phase includes tax relief of around 88 per cent of the purchase price, to be offset against all rental income in the Irish Republic.
A management company will handle letting, rent collection, security, maintenance and repairs and also arrange summer letting. The development consists of five mansard roofed redbrick blocks with a total of 283 bed spaces. Interiors are planned with students in mind. Each bedroom is en suite with shared living and cooking areas.
The units come fully furnished and fitted out, including all utensils, furniture, tiling, wardrobes and electric underfloor heating. Direct broadband internet connection to CIT College is also provided. Blocks will be surrounded by landscaping, with car-parking and green areas.
Developers are the Kenny Group, a Cork-based firm with a strong track record in new homes throughout this country and the UK.
