Dublin 22: A tax break development in Clondalkin is one of the last to be launched before Section 23 is abolished next year, writes Justin Comiskey
Apartments and duplex units with Section 23 relief in Clondalkin are being launched by Sherry FitzGerald New Homes this weekend with prices starting at €285,000.
Given that Section 23 relief is due to be abolished next year, there should be a rush of investors to Thornfield Square, Menolly Homes Ltd's latest scheme in the heart of Clondalkin village.
At Thornfield Square, investors can offset 75 per cent of the purchase price against rental income from any type of property in the State.
In addition, they can also benefit from mortgage interest relief and low rates of stamp duty. A further advantage is that, with completion dates of prior to December 2003, tax relief is also available for the current year.
Prices at Thornfield Square start at €285,000 for a one-bedroom penthouse of 43 sq m (460 sq ft), two-bedroom apartments of 59 sq m (630 sq ft) cost from €294,000, two-bedroom apartments with their own front door of 66 sq m (710 sq ft) are priced from €325,000 and three-bedroom duplex units of 102 sq m (1,100 sq ft) are from €385,000. All units include secure underground car-parking.
The development is laid-out in five blocks, three and four storeys high. It is just off the Ninth Lock Road, behind the local civic centre and opposite the former Clondalkin Paper Mills.
There is easy access to the M50, N4 and N7, and the Luas stop on the Naas Road, due to open next year, will ease transport to and from the city centre.
Thornfield Square also benefits from being a short drive to Citywest and Park West, and the Liffey Valley business and shopping complex.
Standard features include electric central heating, high speed lift to all floors, fitted kitchens, built-in wardrobes, uPVC windows and external doors.
Fifty-five units at Thornfield Square have already been sold, leaving just 35 homes remaining.
Showhouses will be open on Saturday and Sunday from 3 p.m. to 5 p.m. while Sherry FitzGerald New Homes is currently accepting deposits for Thornfield Square at its offices on 93 Morehampton Road in Donnybrook.
Previous developments by Menolly Homes Ltd include Eglinton Wood in Donnybrook, Annsbrook and The Maples in Clonskeagh, and Hilton Gardens in Ballinteer.
