Increased tax relief stirs interest in 14 and 17 North Mall

This week’s budget changes to restore 100% mortgage interest relief to investor/landlords, at a 5% increase each year from the current 75% relief level may bring sales interest to the likes of Nos 14 and 17, North Mall, Cork.

A classic, Georgian-era mid-terraced townhouse on Cork City’s North Mall, No 14 is laid out in five units earning €52,000 pa, says Edward Hanafin of Lisney.

Acting for Grant Thornton, he seeks offers of €600,000, equating to €120,000 per unit, showing an 8.3% return, and adds that it’s within a designated tax incentive area under the Living City Initiative.