Converted Properties and Stamp Duty Exemptions

[Jaydee]

I am looking a property that was once a hotel but has now been converted into apartments. I am led to believe that they have a floor area compliance certificate and therefore the property is exempt from stamp for both FTBs and owner occupiers.

Has anyone any experience or heard of old properties that have been converted in this way and therefore being exempt?

 

[mf1]

When you first posted this(a few weeks ago) , I was intrigued. I thought the exemptions only applied to new builds and not conversions. My own view was that Revenue and the Department of the Environment would treat a conversion from hotel to apartment as a second hand purchase and that stamp duty would be calculated/due as on a second hand property.

If I was buying and hoped to get new build treatment for Stamp Duty, I'd be looking to see the Floor Area Cert. and the formal letter from Revenue confirming that any Deed will be stamped on a new build basis- before I signed a Contract. Without seeing both of those, I would not be confident that this was anything other than a second hand residential property with the attendant stamp duty implications.

What does your own solicitor say?

mf

 

[circle]

I know that Stamp Duty was payable on the parts of the Mount St. Annes development that were converted from the original convent building.