Dublin 8: from €350,000 Investors on the lookout for Section 23 developments are finding that the choices open to them are getting slimmer and slimmer.
St Catherine's Court on Bridgefort Street in Dublin 8 is one of the few remaining investment-driven opportunities on the market and it's a small development of 21 one and two-bedroom apartments in a six-storey block. It's being sold through Turley & Associates.
There are four one-bedroom apartments priced from €350,000 with 46sq m (500sq ft). The rest are two-bedroom apartments from 64-82sq m (692-887sq ft) and priced from €420,000.
There is no car-parking, which is something that might put investors off, because there is now such a wide choice of rental accommodation on the market that renters can afford to be choosy and the availability of one or even two car-parking spaces could be a deal breaker.
Bridgefort Street is very central, just off Thomas Street and within walking distance of the city centre and fairly close to a Luas stop, so a car isn't exactly necessary.
However, one of the development's big assets is the large communal roof garden that enjoys fantastic views over the city.
Each apartment has been fitted out with good quality materials. The kitchens were custom-designed by Oakline with granite worktops with splashbacks and integrated appliances. The bathrooms have floor-to-ceiling tiling and chrome tap and shower fittings. The bedrooms wardrobes were also designed by Oakline.
According to the agent, investors who are quick off the mark could have the whole purchase signed off before the end of the tax year, although to benefit from the tax break a lease must be in place and the tenants first month's rent paid.
The developer is Bracegrade whose past projects include Marina Park in Blackrock and Crane Yard in Temple Bar. The architect is Walsh & Associates.
