Investors looking for generous Section 23 tax relief against all rental income, as well as holiday-makers, combined to make last weekend's launch of the Beachside scheme in Riverchapel, near Courtown, Co Wexford, a success. Over half of the 32 houses in the first phase of this development have been sold. All the twobeds, which cost from £75,000, have gone. Now 13 houses - four 885-sq-ft three-beds, starting from £83,950, and nine four-beds, costing from £99,950 to £112,950 - remain to be sold. These range in size from 1,120 sq ft to 1,315 sq ft.
Wexford-based builder William Neville plans to build 125 houses in the development, one of many built under the seaside resorts renewal tax incentive scheme along this part of the Wexford coast. Under this scheme, interest charges may be set off against rental income.
The site has access to the beach, and is half-a-mile from Courtown. The houses are laid out in the now familiar suburban cul-de-sac formations. Showhouses will be open again this Saturday and Sunday afternoon, when joint agents Sherry FitzGerald and Kehoe & Associates will take bookings.
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