Tax Incentive Holiday Cottages for Sale
INTRODUCTION | DIFFERENTIATING FACTORS | DOWNLOAD BROCHURE
Section 23 Property - Section 23 Relief Tax Designation
Toureen Estates is owned by Mr. Tom McNamara (a Chartered Surveyor) and is involved in development & investment property in Ireland with particular experience and knowledge within the field of Section 23 property.
Based in Ennis, Co. Clare, Toureen Estates has previously developed a Section 23 property type scheme in partnership in Lisdoonvarna in 2005 called Dun Bhreandain. This Section23 relief development was sold to Investors in 2005 and is currently 4 years trading while continuing to generate rental income tax relief for those involved.
Please contact Tom McNamara directly on 087 2577764 or 065 6866568.
Section 23 Property - Holiday Cottage Tax Relief
PRICE: The price is €275,000 plus vat (vat reclaimable on lease to management company).
GUARANTEED RENTS: The price of €275,000 includes guaranteed rents of €8,000 per year for 10 years. Guaranteed rents will be placed on deposit at contract closing in Investors sole name to safeguard Investors interests.
TURNOVER: Cottages generate €8,500 per year.
MANAGEMENT GUARANTEE - TOUREEN ESTATES: Will indemnify Investors with regard to the operation of the scheme for the lifetime of the capital allowances ensuring no clawback of allowances.
CAPITAL ALLOWANCES: The allowances are 90% of the price. The allowances can be used against Irish source residential or commercial rental income and unused relief can be carried forward indefinitely.
SALES: Sales can be closed up to end of December 2010 and investors will receive tax relief on 2010 year end rental income.
To find out more about Section 23 Property Tax Relief for Holiday Cottages, contact Toureen Estates NOW!
Photo Gallery : Click on any photo to enlarge
Section 23 Property Certification: All certification is in place including:-
- Clare County Council: certificate under Finance Act 2006 for Registered Holiday Cottage Scheme.
- Failte Ireland: certificate of registration.
- Department of Environment, Heritage and Local Government: floor area compliance certificate.
- Homebond: 10 year structural guarantee.
LOCATION - The houses are located just off the town centre in Lisdoonvarna. Lisdoonvarna is a vibrant tourist resort located close to a host of tourist attractions including the Burren, Cliffs of Moher, Doolin, Lahinch, Fanore beaches all located within 15 minutes drive.
OPERATION - The Scheme consists of 14 houses which are managed directly by Toureen Estates under the name of Lisdoonvarna Holiday Cottages. They are currently in their third year of trading.
The turnover generated in 2010 was €8,500 per house.
We market the holiday houses directly through our web site. www.clareselfcatering.ie and through newspaper and print media. We have also developed links with marketing specialists, Gulliver (Failte Ireland), Imagine Ireland, Self-catering Ireland and Loyalty Build who offer holiday breaks incentivised by Super-Valu to their customers.
To get more details on how buying a Section 23 Property holiday cottage can save you money on rental income tax relief, contact Toureen Estates NOW!