Cúirt Na Rásaí

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Cúirt Na Rásaí

"Cúirt Na Rásaí" (Racecourse Court), is a modern, exclusively designed, stylish new student accommodation complex. Cúirt Na Rásaí is situated only 5 minutes from the Galway Mayo Institute of Technology. There is a regular bus service every 20 minutes to the college and city centre. A small supermarket is located within a minute's walk and a proposed new Shopping Centre and Cinema is just a short stroll. This unique development with 31 units and 102 bedspaces combines the very best of on campus student accommodation.

Investing In Galway

Sought after Location

	Cúirt Na Rásaí is located in Ballybrit, overlooking Galway Racecourse on the main arterial routes to Sligo, Dublin and Limerick. This superb landmark location combined with its proximity to large multinationals i.e. Thermo King, Boston Scientific, APC, Compaq, Tyco, Nortel, Medtronic AVE makes for a very health future for your investment. The new multi-million euro Galway Clinic project is well under way as well as proposed shopping centre and cinema planned for the area.

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Section 50

Section 50 provides for a scheme of tax relief for rented residential accommodation for third level students. The relief is along the lines of what is commonly referred to as "Section 23" relief. The government attaches great significance to this initiative, as it will help to improve the quantity and qualify of accommodation for students and also relieve current supply pressures in the private sector. This means that for the investor there is a market for tenants in the students of the certifying educational institution, in this case, the GMIT, who will be encouraged to rent houses in the college approved student village.

The relief follows the normal "Section 23" type provisions. In the case of construction, the relief includes construction and site development costs (but not the site cost). The qualifying expenditure is available in full against rental income within the state. This qualifying expenditure can be ass mush as 82% of the contract price of units in the development. This is not confined to rental income from Cúirt Na Rásaí, but can be offset against all rental income both commercial and residential originating within the state.

Tax Breaks

Tax breaks are very important to investors, but the potential for capital appreciation is also a vital ingredient when making such investment decisions. Location is the critical factor in capital appreciation and Galway is fast emerging as a highly desirable location. Another of the key elements to a successful property investment is that it should be in a prime letting area. Cúirt Na Rásaí is strategically located for this reason.

Cúirt Na Rásaí has been carefully designed to meet all the very demanding criteria laid down in Section 50 for rented student accommodation. The project has been researched in depth with input from leading financial, taxation and property consultants.

The complex is designed to facilitate the requirements of community living. It incorporates open recreation areas amidst attractive landscaping, while maintaining panoramic views of Galway Racecourse and surrounding area.

The distinctive architectural finish complements the neighbouring environment with its natural burnt brick. This requires minimal maintenance, while providing a high level of durability.

There are 31 apartments in phase one of this development. The units yield a total of 102 bedspaces for the sole use of GMIT students for the academic year. Outside the academic year, the properties can be let to non-student as well as students. Considerable interest from the education sector in utilizing the complex for summer student exchanges, language schools, seminars, etc. is also anticipated. However owners are not limited to these users for the summer, as the units can be let to the tourist market.

· Section 50 is a "Section 23" type property tax incentive scheme
· A limited number of only 31 apartments available
· A combination of 2 & 4 bed apartments
· Centralised letting and management service during academic year and for summer tourist let, to suit investors
· Certification for Section 50 tax relief from the Galway/Mayo Institute of Technology
· High occupancy rates projected due to demand
· Circa 82% of the purchase price allowable as rental deductions (excluding fit-out costs)
· The rental income covered under Section 50, may be derived from the Cúirt Na Rásaí student village, or from other lettings, commercial or residential, within Ireland
· The tax relief can be used flexibly over the 10 year period of the Section 50 scheme to match ones rental income tax liability arising in each year
· Galway is ideally suited for Section 50 as it has high student and tourist accommodation demands
· Apartments are fitted out to Bord Fáilte 3 Star standard
· Tastefully designed with wooden floors and maple kitchens

Fit Out

Not only is Cúirt Na Rásaí unrivalled in location but also in its fit-out.
High quality fit-out is a feature of the entire complex with beech wood finish throughout kitchens, wardrobes, computer desks, dressing tables and bed furniture. Kitchens are fitted out with all high quality appliances.

Standard Features

· 31 apartments in 4 storey building · Double bed per person · Individual carparking spaces · Bicycle stands for each building · Internet points to all study desks · Electronic key cards to all apartments and bedrooms · Internal fit-out in beech wood · Ceramic tiling in bathroom and kitchens · Bed layout suitable for students and tourists accommodation requirements · Balcony feature in many apartments · Polished stainless steel rail in each building · Fit out package included · On-site laundry area · Enclosed refuge area FOR FURTHER DETAILS CONTACT OUR SALES OFFICE Cúirt Na Rásaí, Ballybrit, Galway. Tel: 091 751 953 or 087 232 1377

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Galway/Mayo Institute of Technology

The Galway/Mayo Institute of Technology (GMIT) 150,000 sq.ft extension is near completion. The economic development plan for Galway lists, as one of its core tenets, support for the strategic development plans of the GMIT by the private and public sectors in Galway. This is seen as imperative to ensure that Galway continues to be an attractive location for third level students. This will take the form of support for the investment programme of the GMIT to meet the demands of industry, particularly in the areas of Engineering, Science, Software, Languages and Tourism. In general, students of the GMIT tend to enter careers in Galway, indeed many of the cities movers and shakers graduates of the college.

WhyCúirt Na Rásaí?

All Unit types are fitted with:- Multi-channel cable tv. S/S hob, oven & microwave. Fridge/freezer, toaster, kettle & cutlery Crockery & utensils Duvets & utensils Smart card locking system to each unit Internet to all study desks Double bed in every bedroom

Letting Management

The management company will be responsible for all aspects of managing, letting and supervision of the properties. The academic year will be monitored closely by the staff from the GMIT, to ensure compliance with the 3 star self-catering standard necessary to retain qualification for Section 50. The management will provide students and parents with one point of contact for enquires concerning lettings. The college will also use the appointed agent as a single point of contact for referring enquires

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