Orchard Grove pick of tax break crop

MOVE in for the Christmas holidays and get your tax back at the same time. How do you do that?

By investing in the Section 23 scheme at Orchard Grove, Kenmare. Stunning, contemporary and private are just some of the descriptions used by Katie O'Sullivan of Thos J O'Driscoll to describe this scheme on the Killarney side of the Kerry town. And with a design by Wilson Architects giving 1,300-plus square feet of bright space, she isn't far wrong. But, it's the tax incentives that will pull the buyers in, especially as the development is the only one in the town with relief relevant to this tax year, Ms O'Sullivan says.

And, as the houses are now completed, with a little clearance work still being done, owners can see in the new year in Cork sur Mere.

That, of course, means they will use up one of the two weeks allotted each year if going for the leaseback option.

Developer Michael O'Sullivan of the town's Atlantic bar, is also putting a management package in place through Dream Ireland Holiday rentals, who will take care of the property rental for the 10-year period of the capital allowances and there will be an on-site manager.

The projected tax saving of the ex-Vat cost of €375,000 is in the region of €173,331, according to the developers, which gives a net cost of €201,669. As is standard with this type of property, the total includes a €30,000 fit-out, which is also deductible and the investment is relatively hands-free, says Ms O'Sullivan. And if the devil is in the detail, she also points out that the understairs cupboard is large enough to lock away personal stuff for the owners use.

Just a short walk to the sophisticated tourist town, Orchard Grove is to four-star standard and is part of an overall development of 65 houses. This will include private semi-detached houses, townhouses, apartments and a retail element.