Innovation meets four-star fit-out
Irish Independent Property Section, Friday 10th January 2006

The final 40 apartments in The Gateway development on Ballymun Road have been brought to the market by Ely Property Ltd, the sale and leaseback specialists.

Qualifying for Section 50 (student accommodation) tax relief this is one of the last tax relief schemes available in a top investment location.

The apartments, which have been built by Bowen Construction to a design from Anthony Reddy & Co. have high specification and are in a fully gated private community with a full time on-site caretaker and 24-hour CCTV. All apartments are of an innovative design and fitted with a four star fit-out.

There will be 109 3-bedroom apartments in total here and already the first phase of 72 units are sold and fully occupied by students from many Dublin Colleges. The units are equipped with broadband, TV and DVD. The Gateway offers sale and leaseback tax incentive opportunities an is part of the biggest regeneration project Dublin has yet seen.

All units have a ten year leaseback with Student Accommodation Services Ltd. This is an attractive package for investors as it provides a fully de-risked hassle-free investment property.

The company only offer leaseback on developments that fulfil certain criteria and that will deliver a quality return. They are responsible for all aspect of the development, letting, rent collection, maintenance and security management.

The apartments are priced from €305,000 for 64 sq.m unit to €330,000 for 68 sq. m unit. Fit out is to 4-star student standard. Student Accommodation Services, Ely’s Section 50 subsidiary, will let and maintain all units, clean and repair common areas, manage gardening and landscaping, refuse disposal, electricity and security.