Co Longford: from €230,000: With property tax incentives due to end in July 2006, there is a flurry of interest in Section 23 schemes being released around the country this season. One of the latest is The Mill, a development of 25 houses and 25 apartments in Clondra, Co Longford. These are selling from plans at the offices of joint agents Hooke & MacDonald and Property Partners Earley.

Two-bedroom apartments of 68-83sq m (730-900sq ft) cost from €230,000. Three-bedroom apartments of 92sq m (995sq ft) start at €240,000, while three-bedroom duplex units of 99-133sq m (1,065-1,430sq ft) are from €250,000.

In addition, there are four-bedroom houses of 129-195sq m (1,385-2,095sq ft) starting at €295,000 and five-bedroom detached houses of 171sq m (1,840sq ft) from €325,000.

The ability to set a large part of the purchase cost against all rental income in this jurisdiction is a huge incentive for investors. Owner-occupiers can set this amount against all income (including PAYE) over a 10-year period. First-time buyers from nearby Longford Town could reap serious tax benefits from locating at The Mill.

This development is located on the banks of the River Camlin in the centre of Clondra, a popular waterways spot 5kms from Longford Town at the end of the Royal Canal. Richmond Harbour in the town is 47 locks from Spencer Dock in Dublin.

Part of this scheme involves the restoration and conversion of existing mill buildings, with four two and three-storey blocks forming a courtyard out from the restored mill.

The intention of Lark Developments was to produce a mix of contemporary and traditional styles, while respecting the view of the original mill from the town. The introduction of a footbridge will ease access to the town centre.

Traditional materials will be incorporated into the design, linking with the original stone of the mill building. Cedar cladding will be used and balconies will be timber, with a wooden walkway. Smaller outbuildings will be renovated for use as bicycle and bin storage.

Most units will have en suite showers, good quality kitchens, lifts and own-door entrances. Investors can avail of an optional fit-out package. Building work has started on the site and completions are expected from mid-2006, according to the selling agents.