Limerick: Just a few Section 50 apartments at Groody Park close to the University of Limerick are still available through Hickey O'Donoghue Auctioneers.

There are six three-bed apartments available. These have 76 sq m (815 sq ft) and cost €275,000. Five six-bed duplex units of 151 sq m (1,620 sq ft) are priced €375,000.

All units come fully fitted and there is ample surface car-parking available. Section 50 is similar to Section 23 tax relief in that Section 50 is applied to purpose-built student accommodation only.

Eighty-five per cent of the purchase price can be offset against all Irish-sourced rental income while year one capital allowances are also available on the fit-out over seven years.

Groody Park is a five-minute walk from the UL campus, is around 10 minutes from Plassey Technological Park while the Parkway shopping centre is a five-minute walk away.

All apartments have own-door access - there is no communal corridors and, once the 10-year Section 50 period is up, the scheme can easily revert to private use. Standard features include gas-fired central heating and TV/Internet for all rooms. The duplex units have all bedrooms en suite and come with a balcony.

Hickey O'Donoghue Auctioneers can be contacted at 061-310022 or see www.hod.ie.