Co Wexford/from €358,000:Tax breaks are available with a retirement village in Co Wexford, due for completion in August this year.
Castle Gardens is under construction on the outskirts of Enniscorthy, on a large site. Sixty per cent of the land is to be laid out as gardens.
Kehoe & Associates of Wexford town is taking bookings for 54 one and two-bedroom bungalows to be built in the grounds.
A 69-bed retirement home and a day care centre are also planned.
Prices range from €358,000 to €390,000 for the houses, which come in three designs and sizes. This includes a complete furniture and accessories fit-out, ready for occupation.
Owners can claim 90 per cent of the construction costs and furniture fit-out against rental income over seven years, at 15 per cent a year for the first six years and 10 per cent in year seven.
A 15-year lease agreement will be in place with the operator of the retirement home.
A management company will take care of the running of the village, at no additional cost to investors.
Rent at €5,000 per annum is guaranteed for 10 years, backed by a bank-guaranteed sinking fund.
After 15 years, owners will have the option of selling their property, continuing to let to the operating company, rent privately to an elderly person or occupy it themselves.
