Welcome To Clonmullion
A Great Investment Opportunity From Raggett Homes
Athy Clonmullion Development Limited has created an attractive retirement village adjacent to the Cloverland Lodge Nursing Home in Athy, Co Kildare. The purpose of the village is to provide its residents all the advantages of independent living combined with the security and support provided by the nursing home.
The properties are available to investors representing one of the few remaining all income tax based investment property schemes. Investment in the scheme will provide the investor with substantial tax savings.
The properties attract capital allowances of 91% of the purchase price. Capital allowances up to a total of €221,882 are available against all income over seven years, while the remainder may be offset against Irish sourced rental income.
The developer, Athy Clonmullion Development Limited, provides a guaranteed rental income on each unit for the tax life. There is a rent pooling arrangement in place for any excess rent over the gross rental guarantee that will reduce the risk of each investor. The units must be held by the investor until 31st January 2017 in order to avoid any claw back of allowances. After that date the purchaser of the unit will have the option of re-letting the unit to the nursing home, letting it privately, occupying it or selling it on the open market.
The scheme was launched for sale in September 2007 and the standard unit was priced at €343,750 with a rental guarantee of €7,000 pa net of management charges for the first five years.
We have now reduced the price to €299,950 and increased the guarantee to €10,000 pa. net of management charges.
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Paddy Raggett Homes Ltd. Registered Office: Grovine, Waterford Road, Co. Kilkenny. Registered in Ireland: Registered No. 207809
Paddy Raggett Homes (Thurles) Ltd. Registered Office: Grovine, Waterford Road, Co. Kilkenny. Registered in Ireland: Registered No. 277955