£164,000 for city centre apartments with tax breaks

Apartments in one of the few schemes in Dublin still offering Section 23 tax relief on rental income go on the market today at 25 Wolfe Tone Street, in the city centre. Agents Hooke & MacDonald are releasing for sale the final 24 homes near Mary Street, most of them two-bedroom apartments.

Sixty other one and two-bedroom apartments in the same development were sold off the plans last spring.

There are three one-bedroom apartments available costing from £164,000. Two-bedroom units with an average floor area of 710 sq ft are priced from £200,000 to £250,000. Two two-bedroom duplex units of 700 sq ft, with their own front doors leading off a courtyard, are also for sale at £215,000. Even without tax breaks, this development would sell quickly because of its superb location, about half-way between the Jervis Centre and the Parnell Centre.

The apartments occupy one of the six-storey buildings on the short stretch between Mary Street and Parnell Street. All the buildings on the street have retail units on the ground floor. Up to a year ago, Liam Carroll's company, Zoe Developments, was launching several apartment schemes each month. But Wolfe Tone Street is the first development to come on the market from Mr Carroll's stable since last spring, largely because of the shortage of sites and the increasing tendency by An Bord Pleanala to block high-density schemes in the city.

The current shortage of apartments for letting should mean that investors will be strongly represented among the buyers of units in 25 Wolfe Tone Street, according to David Cantrell of Hooke & MacDonald.

Viewers are likely to be impressed by the double-height entrance hall with wood panelled walls and attractive down-lighters.

The one-bedroom apartments look out over Wolfe Tone Street towards Henry Street, while the two-bedroom apartments are focused on a landscaped courtyard.

The one-bedroom apartments have a floor area of just under 500 sq ft including a comfortable livingroom with a perfectly manageable galley-style kitchen off it. There is an enclosed balcony overlooking Wolfe Tone Street. The bedroom is a good sized double with a full-height window looking out over the balcony. Apartments of this quality in the city centre are renting for around £550 per month.

The livingrooms in the two-bedroom apartments have full-size bay windows which catch the sun for most of the day. Both bedrooms are doubles.

The emphasis is on creating a sense of space. The livingroom has enough space for a dining table. Both bedrooms have fitted wardrobes.

For those looking for extra space, there is pair of two-bedrooms duplex units which open directly on to the courtyard.

Both homes have dual aspects and lots of room for entertaining.

The livingroom and kitchen are on the ground floor and there are two bedrooms at first floor level. These homes back on to Jervis Lane, one of the few thoroughfares in the city centre which has changed little over the years.