Property for sale in Mulranny, Co. Mayo

Overlooking Mulranny's blue flag beach with stunning views of Clew Bay, this attractive three bedroom semi-detached house is located in a small private gated development. The property is presented in excellent order throughout. A large open plan kitchen/dining/living room is located on the first floor to take full advantage of the exceptional sea and mountain views through a double set of windows. Additional accommodation comprises of entrance hall, three bedrooms (one en-suite), two on the ground floor, and one on the first floor, bathroom and guest WC. Mulranny is a charming sea side village recently designated a European Destination of Excellence. It is the perfect location for the outdoor enthusiast with Blue Flag beaches, a 9 hole golf course and the Great Western Greenway passing through on its route from Westport to Achill Island. The village has a wide choice of amenities, including shops, restaurants and bars. The property is located adjacent to the four star Mulranny Park Hotel.

Built in 1903 and extended in the 1930s The Old Convent Lodge is wonderfully located in the picturesque village of Mulranny overlooking Clew Bay. This unique former convent with a floor area of approximately 2,700 square feet is set on a one acre elevated site, with excellent views over Mulranny beach and across Clew Bay to Croagh Patrick. The Lodge was bought 15 years ago by its current owner and ten years ago had some renovation work carried out including the fitting of a new roof and double glazed pvc windows installed. The centre piece of the building is the stunning former chapel (now unconsecrated) with its many arched stained glass windows. Much of the convent's original features are still in place including tiled floors, cornicing, fireplaces and some exposed stone walls. The property has been well maintained and comes to the market in good condition. With some further expenditure it would be easily brought up to more modern standards if wished. Externally there are a number of small outbuildings to the side of the property with a total floor area of approximately 392 square feet with WC and shower rooms, garage with roller doors, workshop and shed. The grounds include lawn areas and an orchard. Mulranny is an attractive village with a wide choice of amenities including primary school, Blue flag beach, golf links and the Park Hotel with swimming pool and leisure facilities. Mulranny is also on the Great Western Greenway walking and cycling route linking Westport and Achill Island.

With uninterupted, panoramic views over sea and mountains in a designated area of outstanding natural beauty and on the edge of the Ballycroy National Park, this property is in an idyllic location for nature lovers and water sport enthusiasts of all kinds, which must be seen to be believed. Built in 2006 this 3 bedroom architectually designed cottage stands in approximately 2 acres of land about 120 metres from the seashore and has its own shoreline frontage of about 60 metres. The building works were supervised throughout by structural engineers and the property possesses a current full cert of compliance. THe cottage is designed with ample height to allow provision for expansion of the already generous accommodation into the roof space and with extra width in the hallway to accommodate a staircase. (This would enable the addition of 3 or 4 extra bedrooms with the bathroom facilities, costing in the region of €20,000 for the work) It is one of the three individually designed properties in this truly sympathetic development which is situated on a private road at the end of a country lane and the benefits from no through traffic. This home offers rural tranquility with easy access to all the amenities. Within an hour's drive of the major centres of Castlebar, Westport, Ballina and Knock airport are also within easy reach. The local village of Mulranny, ten minutes away, provides shopping and entertainment facilities with a hotel, restaurant and leisure complex and golf course. Local pubs and hostelries offer Bed and Breakfast and there is a blue flag beach. The local national school is five minutes away. For the fishing enthusiast there are rivers, lakes and of course the sea, close by, with pier fishing in Mulranny. There is free salmon and sea trout fishing ten minutes away in the Owenduff River. Wildlife abounds in the area and seals, otters and birdlife can all be viewed from the house. Windsurfers and saling enthusiasts will welcome the calm waters and safe moorings in front of the property with direct access to the open waters of the Atlantic Ocean.

The Development: The Great Western Parkland development is located in the scenic village of Mulranny on the northern shores of Clew Bay in West County Mayo. There are panoramic views southwards over Clew Bay and Croagh Patrick. Mulranny is blessed with miles of sandy beaches and unspoilt countryside. Local amenities include a 9 hole links golf course, good restaurants and friendly pubs. The cornerstone of this private 42 acre woodland development is the complete renovation of the historical 4* Great Western Hotel (circa 1897). Retaining much of the character and charm with an investment of €17 million it combines the very best from the hotel's past with contemporary comfort and style. Boasting 80 well designed and comfortable gust rooms, elegant dining room and relaxing lounge, three conference and banqueting suites and a large leisure facility including indoor swimming pool, sauna, Jacu"i and outdoor hot tub. Personally run by local management linked to the internationally recognised Rezidor SAS group who are introducing Park Inn to Ireland and Mulranny which will add a global dimension to this historic hotel into the future. Located on the now disused Achill to Westport railway line the hotel boasts sumptuous contemporary interiors with fine dining, excellent bars and wonderful leisure facilities. Within the 42 acre site there are just 31 properties designed and placed in very distinctive clusters. - The Woodlands, The Railway Houses and The Courtyard, which are detailed individually overleaf. The development qualifies for attractive tax allowances and offers investors up to 93% Section 23 type tax relief. In addition a full Management Company and Letting Agency have been appointed to ensure that investors are given an efficient and attractive investment package. Finally the developers of this development are offering investors a net rental guarantee of up to €10,000 per annum for the first six years. Thereafter the rental projections are excellent as are the prospects of a capital appreciation. All residents will have use of the hotel amenities. Also to be enjoyed within the locality are blue flag beaches, water sports, particularly surfing, sailing and diving. Excellent fishing, both freshwater and sea-angling. Hill walking and climbing, there is also a good choice of golf courses nearby, as well as horse riding and boat cruises. Woodland Lodge: The Woodland development features a cluster of 10 units located around the landscaped courtyard. Of a striking contemporary design, the properties are part traditional and part timber built and feature very extensive areas of glazing. Extending to approximately 1,100 sq.ft of ground and first floor, the property are 3 bedroom and boast spacious light filled contemporary accommodation. A particular feature of the property is the high quality of interior finish and master bedroom suite, which features 360 degree views from extensive areas of glazing. The property come fully furnished to Bord Failte 4* standard. Railway Houses: The Railway design is a very striking modern contemporary design and features 8 units built parallel to the now disused Westport-Achill railway line. Extending to approximately 1,400 sq.ft over 3 floors a particular feature of the design is extensive areas of glazing, the me"anine space overlooking the main living area and the number of integrated terraces and roof gardens. The property come fully furnished to a Bord Failte 4* standard. There are 8 houses of this type. Courtyard: The Courtyard development comprises just 13 no. traditional but high quality residences in a court yard design. Featuring end of terrace, mid terrace and one detached the properties are of a traditional construction over ground and first floor and extend to approximately 900 sq. ft. The design features bright light filled spacious accommodation ideal for family living. The open plan living/dining room is located at ground floor with two bedrooms at first floor. The properties come fully furnished to a Bord Failte 3* standard. There are 13 properties of this type. Tax Breaks: This development offers a Section 23 Holiday Home Tax Relief whereby investors can avail of very attractive tax savings on their tax liability on residential rental income. These tax savings are over 10 years. The individual percentage savings are: The Courtyard c.80% Woodland c.93% Railway c.93% Pricing and Availability Schedule NB:- Prices are inclusive of V.A.T. and interior fit out. House No House Design House Type Total Price Sales Status 1 Woodland Detached 300,000 Available 2 Woodland Detached 300,000 Reserved 3 Woodland Detached 300,000 Available 4 Woodland Detached 300,000 Reserved 5 Woodland Detached 300,000 Reserved 6 Woodland Detached 300,000 Reserved 7 Woodland Detached 300,000 Reserved 8 Woodland Detached 300,000 Reserved 9 Woodland Detached 300,000 Available 10 Woodland Detached 300,000 Available 1 Railway Detached 325,000 Reserved 2 Railway Detached 325,000 Reserved 3 Railway Detached 325,000 Reserved 4 Railway Detached 325,000 Available 5 Railway Detached 325,000 Available 6 Railway Detached 325,000 Available 7 Railway Detached 325,000 Reserved 8 Railway Detached 325,000 Reserved 1 Courtyard End of Terrace 195,000 Available 2 Courtyard Mid Terrace 195,000 Available 3 Courtyard End of Terrace 195,000 Available 4 Courtyard End of Terrace 195,000 Available 5 Courtyard Mid Terrace 195,000 Available 7 Courtyard End of Terrace 195,000 Available 8 Courtyard Detached 195,000 Available 9 Courtyard End of Terrace 195,000 Available 10 Courtyard Mid Terrace 195,000 Available 11 Courtyard Mid Terrace 195,000 Available 12 Courtyard Mid Terrace 195,000 Available 13 Courtyard End of Terrace 195,000 Available These Particulars, specifications and accompanying price lists are issued on the understanding that they do not form part of any contract. Measurements are approximate and maps or plans are not drawn to scale. The builder reserves the right to make alterations to the design specification in the interest of the overall quality of the development Breakdown of Holiday Homes Capital Allowances Detached Detached 3 Bed 3 Bed 2 Bed Woodland Lodges Railway Houses Townhouse 1,300 sq.ft 1,500 sq.ft € € € Selling Price Incl VAT & 4* Fit-Out 400,000 435,000 295,000 Investor is entitled to reclaim the VAT which amounts to 48,900 53,104 35,906 Net of VAT Price 351,100 381,896 259,094 The Net of VAT price less site value of €10,000 can be written off against all Irish rental income over a 10 year period which equates to 34,110 37,190 24,909 Tax saving at the higher rate per annum 15,691 17,107 11,458 Net cost of house at 10 year 194,194 210,824 144,514 Rent of €10,000 per annum is guaranteed for first 3 years Thereafter, Dream Ireland are projecting rents of €18,000 for the Woodland and Railway Rent of €7,500 per annum is guaranteed on the Courtyard for 3 years Investors are entitled to free use of their holiday home when occupied and fee use of hotel & leisure facilities There will be a small charge for laundry and heating NB: TO BE VERIFIED BY INDEPENDENT ACCOUNTANT Information on Section 23 Type Tax Relief: Section 23 Type Relief provides tax relief for the capital expenditure incurred on the construction, refurbishment or conversion of rented residential accommodation. Section 23 Relief is a tax deductible rental ("Case V") expense or loss. Any rental loss created as a result of this deduction may be set-off against any other Irish rental income of the taxpayer in the current or subsequent periods. The relief is calculated by reference to the price paid to the property developer. The price paid for the site does not qualify for relief, therefore calculation of the relief is based on a percentage of total cost. The developer will usually identify the percentage (usually 80-95%) of the total costs incurred by him which relate directly to the construction/ conversion. This percentage is the qualifying amount of the purchase price paid. Thus, an apartment costing €200,000 which has a qualifying cost of 90% would attract a Section 23 allowance of €180,000. To illustrate how this relief can be used, take the following example. An apartment costing €200,000 may have a 90% qualifying cost of construction of €180,000. The qualifying cost of construction is, in effect, the "Section 23" allowance/deduction and can be written off against all Irish rental income in the first letting year. Thus, a landlord with sufficient other Irish rental income could potentially save €79,200 in tax (assuming the landlord pays income tax at the marginal rate of 42% plus 2% levies), reducing the cost of the apartment to €120,800 (before stamp duty). Any unused relief can be carried forward against any Irish rental income indefinitely. Main Conditions: Certain Section 23 conditions must be satisfied. In particular, a Certificate of Reasonable Cost must be obtained from the Minister for the Environment and Local Government and the dwelling must comply with certain floor area conditions. It must be let in its entirety as a residential dwelling without previously having been used, and must continue to be let for a period of 10 years from the date of first letting, although a temporary vacancy as a result of a change of tenant does not trigger a clawback. A clawback is triggered when a person who has claimed Section 23 relief either disposes of or causes the property to cease to be a qualifying Section 23 property. Some examples of when a clawback would occur include the sale of the property, the transfer of the property as a result of death or the use of the property for a non-qualifying purpose (e.g as a business premises or owner-occupation). However, it is important to note that the clawback will only apply if the sale/transaction takes place within 10 years from the date on which the house was first let.