Tallaght: from €285,000Apartments in a €200 million mixed-use scheme at Tallaght Cross come with valuable Section 23 tax incentives, writes Kate McMorrow
Apartments with coveted Section 23 tax incentives go on sale today in phase one of a major new €200 million commercial and residential development at Tallaght Cross.
The location of this new Danninger scheme is one of its high points - beside the Luas and adjacent to The Square shopping centre. The 200 units for sale in phase one will be ready before Christmas, in time for the current tax year.
Under Section 23, owner-occupiers can set a percentage of the purchase price - 40 per cent in the case of Tallaght Cross - against all income, including PAYE, over a 10-year period. Investors can set this amount against all rental income in this State.
Hooke & MacDonald will be taking bookings for the first 200 apartments from noon today at the Tallaght Cross site, where show units will be on view.
Prices set at a realistic level will appeal to both first-time buyers and investors in equal measure, given the tax incentives and strong rental location. These start at €285,000 for one-bed apartments of 43-59sq m (465-635sq ft). Two-beds of 67-84sq m (720-900sq ft) cost from €335,000, while three-bed duplexes of 109-118sq m (1,170-1,270sq ft) are priced from €410,000.
Designed by O'Mahony Pike on contemporary lines, the Portuguese stone and coloured render blocks stand five storeys tall, with powder-coated aluminium windows and retail outlets at ground floor level. Marks & Spencer has been secured as the anchor tenant - good news for M&S foodie fans. Residents will enter their building via a courtyard, where staircases climb to first floor gardens with apartments radiating off.
Standard spec at Tallaght Cross includes good-sized balconies and full height windows taking in views of the landscaped courtyards and Dublin mountains. Smart high-gloss kitchen units come with thick walnut-look worktops but no appliances - a surprise given the quality fit-out.
However, bathrooms and en suites are fully tiled, including floor tiling, and have granite-topped vanity units. Wardrobes are also part of the price package.
The apartments are pre-wired for an alarm, telephone and television services and heating is electric. A security intercom system is also in place.
Parking will be managed by a separate company, with some of the 2,500 spaces reserved for residents, for a fee not yet finalised. Previous residential schemes by Danninger include The Gasworks in Dublin 4 and Loreto Abbey in Rathfarnham.
