Businesses/Shops opening in Cork city/suburbs.

ofcork

Hoarding gone up around old tax office on sullivans quay.

EnzoScifo

JustLen wrote: »

What tax breaks are you refering to?

Many of us have heard of Section 23 incentives, but not as many of us are familiar with Section 50 tax relief. This is a ‘section 23 type relief’ that was introduced under Section 50 of the Finance Act, 1999. It covers relief on expenses incurred on construction, conversion or refurbishment of residential accommodation for third level students in full time education. This relief was primarily introduced in order to increase the supply of quality residential accommodation for students, but also provides attractive terms for long-term investors. To qualify for Section 50 relief, accommodation must adhere to the guidelines as issued by the Minister for Education and Science, Minister for the Environment and Minister for Finance. As usual, full advice should be sought from your local authority before undertaking any such projects.

As a rule, generally 90% of the price of section 50 units is eligible for rental deduction. For example, a unit costing €200,000 can earn up to €180,000 in rental income over 10 years before becoming liable for tax. Deductions left over can be carried forward after the 10 years. Also in the event the a property is sold within the initial 10 year tax break period, then the relief that is received by the vendor is looked upon as additional rent for that year.

Section 50 units must be let to students who are registered in full time education at an educational institution. However, the units may be let to non-students outside of the academic year. Properties that qualify for section 50 relief must consist of a development of a minimum of twenty bed-spaces and must be situated either on campus at the educational institution or within 8km of there.

https://www.mortgagebrokers.ie/general-financial-news/section-50-tax-relief-explained/

Water John

So you can write off the capital cost, over 10 years. In any business generally, you can do that over 7 and some issues would have accelerated capital allowances.
Hardly a big incentive.

EnzoScifo

Water John wrote: »

So you can write off the capital cost, over 10 years. In any business generally, you can do that over 7 and some issues would have accelerated capital allowances.
Hardly a big incentive.

There is way less risk in building student acc. with section 50. Seen as an easy payday compared to building private accommodation.

freshpopcorn

A few blasts from the pasts! (around 1985)


Mid 2000's.

What is it?

freshpopcorn

Augeo wrote: »

What is it?

Merchants Quay and Douglas Village!

the beer revolu

Augeo wrote: »

What is it?

First one is Merchant's Quay going up.

Not sure about the second. Blackpool shopping centre??

the beer revolu

freshpopcorn wrote: »

Merchants Quay and Douglas Village!

Of course. Douglas.

freshpopcorn

freshpopcorn wrote: »

Merchants Quay and Douglas Village!

Wow.... unreal altogether

JupiterKid

ofcork wrote: »

Hoarding gone up around old tax office on sullivans quay.

It that the vile concrete monstrosity that looks like it was built in 1970 but - shockingly - actually dates from circa 1985 or so? Knocking and rebuild or gutting and reclad?

opus

[QUOTE=JupiterKid;106184463 Knocking and rebuild or gutting and reclad?[/QUOTE]

Total demolition.

snotboogie

Planning permission refused for the brewery and distillery in the bodega

JustLen

EnzoScifo wrote: »

There is way less risk in building student acc. with section 50. Seen as an easy payday compared to building private accommodation.

Has s.50 been phased out?

opus

Spotted a planning notice for more student apartments on Farranlea Road yesterday. Guess it's a reasonable spot for them as not too far to walk/cycle to UCC from there or CIT if you head the other direction.

rob316

Time Traveller bookshop closed down.

BullBlackNova

rob316 wrote: »

Time Traveller bookshop closed down.

That's a shame, though I can't say I ever bought anything in there myself.

Where'd you see that? They've nothing on their social media as far as I can see.

rob316

BullBlackNova wrote: »

That's a shame, though I can't say I ever bought anything in there myself.

Where'd you see that? They've nothing on their social media as far as I can see.

Do some business with the owner. Cleared out

igCorcaigh

rob316 wrote: »

Time Traveller bookshop closed down.

Argh, had only heard of them recently due to media exposure. What a shame.

who_me

rob316 wrote: »

Time Traveller bookshop closed down.

Sad, I've bought from their Skibbereen shop several times.

The Cork shop is the wrong side of the centre for me, and a bit out for casual traffic. Any time I went past on a Sunday it was closed, so I never stepped foot inside it!

Water John

I think I saw an art the other day, local residents objecting to the Faranalea Rd development. Marauding students etc. Cllr John Buttimer was listening to them, anyway.

freshpopcorn

The planning for the Wilton Shopping Center has being delayed because there was an error and they had to re submit it!

D'Agger

freshpopcorn wrote: »

The planning for the Wilton Shopping Center has being delayed because there was an error and they had to re submit it!

Literally forgetting to dot the 'i' and cross the 't' in Wilton it seems

aisling86

Huckleberry's have announced they are opening outlet #2 on Paddy's Day but won't say where exactly yet!

normanbond

aisling86 wrote: »

Huckleberry's have announced they are opening outlet #2 on Paddy's Day but won't say where exactly yet!

Hope their product and business model is strong. Friend of mine works in business banking. He says that a crazy amount of coffee and cake type shops close within 24 months of opening. As much as 70% go wallop leaving big debts and disillusionment.
Upside though is catering equipment and seating becomes available 2nd hand on the cheap!
Makes sense when u think of all the half empty eateries in the city and suburbs...
Best of luck

normanbond

normanbond wrote: »

............He says that a crazy amount of coffee and cake type shops close within 24 months of opening. As much as 70% go wallop leaving big debts and disillusionment. ...........

Not surprising really.......... loads of folk mention how they'd "love to own a coffee shop" ........ I think people think it's a handy number or something. None of them would like to work in some other fecker's coffee shop though

Water John

Any food service industry, is a though number. One needs to get it right and then, keep it right.
For entertainment, this must be the best, savaging revue, I've ever read. From The Guardian.

https://www.theguardian.com/lifeandstyle/2018/mar/11/farm-girl-cafe-chelsea-we-dont-stay-for-dessert-because-we-have-suffered-enough-restaurant-review

mrpdap

Water John wrote: »

Any food service industry, is a though number. One needs to get it right and then, keep it right.
For entertainment, this must be the best, savaging revue, I've ever read. From The Guardian.

https://www.theguardian.com/lifeandstyle/2018/mar/11/farm-girl-cafe-chelsea-we-dont-stay-for-dessert-because-we-have-suffered-enough-restaurant-review

He has a way with words.

Harika

Maplin in Blackpool is closing down. Seems to be part of their administration process.

purpleisafruit

Harika wrote: »

Maplin in Blackpool is closing down. Seems to be part of their administration process.

Location probably wasn't the best and the ability to complete on price with the online space was poor.