LIVE/WORKUNITS:A RELATIVELY NEW concept in the Irish property market, live-work units in four Dublin schemes are being pitched at entrepreneurs and start-up businesses.
The most up-to-date figures from the CSO indicate that there has been a 50 per cent increase in the number of people working from home.
While most of these people are working from a traditional residential setting, purpose-built live-work suites are a new concept designed to service some of this market.
Live-work suites differ from apartments with an office in more ways than one. The workspace is physically separate from the residential area and is designed to operate as a stand-alone office space to accommodate additional employees and clients.
Typically this type of property suits entrepreneurs operating small professional companies, start-up businesses and out-of-town business people, according to Mark Dunne from Hooke & MacDonald, which is selling live-work units in the docklands, Inchicore, South Circular Road and Sandyford.
Buying a live-work unit has varying stamp duty implications, depending on the buyer. Owner-occupiers and investors are both liable for the commercial value of the property.
However, only investors will have to pay stamp duty on the residential element of the unit.
Purchasers are able to reclaim the VAT on the commercial value of the live-work suite.
Live-work units at Hyde Square off South Circular Road, Dublin 8 are priced from ¬485,000.
These units have two bedrooms and 104-136sq m (1,115-1,460sq ft) of living space and are for sale through Hooke & MacDonald.
One-bedroom live-work suites are also available at the Old Chocolate Factory, Kilmainham Square in Dublin 8 and are priced from €485,000 to €530,000. These units have 78sq m (850sq ft). Two-bedroom live-work units with 110-118sq m (1,180-1,270sq ft) are priced from €565,000 to €580,000.
These units are for sale though joint agents Gunne New Homes and Hooke & MacDonald.
People looking for good transport links may be interested in live-work units at Crosbie's Yard in Dublin 1. Prices start at €365,000 for one-bed units with 77-91sq m (825-975sq ft) - also for sale with Hooke & MacDonald.
Out in Dublin 18 there are a number of live-work units for sale at Rockbrook in Sandyford, located just metres from the green Luas line.
This scheme is for sale through Savills HOK and Hooke & MacDonald and prices start at €418,000 for one-bed 71-101sq m (760-1,090sq ft) units.
Two-bedroom units have 111-118sq m (1,198-1,271sq ft) and are priced from €603,000.
