Toureen Estates | Homepage

Welcome to Toureen Estates

Toureen Estates is a privately owned property investment and development company. The company has successfully developed and acquired a significant portfolio of high value and superior quality projects across a range of property sectors.

Central to the company’s strategic approach is the in-house management the property portfolio including leasing, refurbishment and maintenance. In this way, we retain control over the quality of the properties and ensure that we can maximise the value and customer service to tenants.

Please contact Tom McNamara directly on 087 2577764 or 065 6866568.

SECTION 23 TYPE HOLIDAY COTTAGE SALES

Gleann Bhreandáin, Lisdoonvarna, Co. Clare

Investment Structure

The development consists of 14 Failte Ireland registered 4**** holiday cottages. Investors will acquire the freehold interest in the holiday cottages and the cottages will subsequently be leased by the Investors to a Management Company which will collectively manage and control the letting of the holiday cottages on behalf of the Investors. The lease to the Management Company will provide for a rental guarantee of €9,500 per annum in the first five years and will contain a break clause at the end of year 10.

Tax Summary

The capital allowances are available at a rate of 90% of the purchase price paid.

Capital allowances are also available at 12.5% per annum on the costs of fit-out.

The capital allowances are available against all Irish source rental income subject to the maximum limits.

Investors should be entitled to a deduction for interest paid on funds borrowed to purchase the holiday cottages.

A claw back of capital allowances will arise where the holiday cottages are sold by the Investors or cease to be used for the purposes of the trade of hotel keeping within 10 years of first use.

VAT incurred on the purchase of the holiday cottages should be recoverable by Investors subject to satisfaction of certain conditions.

Stamp duty will be payable by Investors on the cost of the holiday cottages excluding VAT. Stamp duty should not arise on the fit-out.

A general summary of the Irish tax implications for an individual acquiring a Gleann Bhreandain Holiday Cottage is outlined above. It is recommended that Investors should take taxation advice which is specific to their facts and circumstances before making any investment. This general summary is for guidance only and is based on interpretation of tax law and practice in Ireland, which may change over time.

For further information Contact Us

RESIDENTIAL SALES

Gleann Bhreandáin, St. Brendans Road, Lisdoonvarna, Co. Clare

Nestled in the heart of the tranquil town of Lisdoonvarna lies Gleann Bhreandáin, an exclusive development of just 17 high specification homes. Designed with the beautiful surrounding landscape in mind, all of these houses boast natural slate roofing, timber windows and stone or cedar cladding. These properties have been decorated and furnished by an interior designer and include fitted kitchen, fitted wardrobes, fireplace, tiling and oil fired central heating. Every home in this quiet cul-de-sac faces the architecturally designed landscaped green area at the centre of the development.

Lisdoonvarna itself is a high quality residential location on the edge of The Burren National Park. The town offers amenities including local primary and secondary schools, shops, pubs, restaurants, a Town Park and playground, and Ireland's only working Spa and Health Centre.