The Grant applies to vacant ‘above the shop’ space in buildings in cities, towns and villages, where the building was built prior to 2008 and the space/existing residential unit(s) have been vacant for two years or more prior to application. The ground floor commercial space may be vacant or in use at time of application but must be remaining in commercial use. The resulting units may be for the applicant’s principal private residence (PPR) and/or rent with a tenancy/tenancies registered with the Residential tenancies Board (RTB).
A grant of up to €95,000 is available for the refurbishment/conversion of the first above the shop unit, with an additional top up to €20,000 payable for the second unit created and a further €20,000 where three or more residential units are created, up to a maximum of €135,000.
Unlike the existing VPRG, there is no distinction between vacant and derelict properties for the grant. The grant payable is based on the number of residential units being delivered in the building and scheme conditions being met.
There is no maximum on the number of grants that an individual can apply for under the Grant, however only one grant, including top-up amounts, is payable per building.
Those applying for the Grant are required to indicate on the application form if they are applying in respect of a residential unit that will become their PPR and/or residential units that will be made available for rent.
Applicants who have previously availed of the existing VPRG for the purposes of a PPR are required to indicate this on the application form. As applicants can only have one PPR, if approved for this grant, the clawback of the original grant paid may become applicable if another PPR is being applied for.
Please see examples of possible scenarios below:
Scenario 1 – Ground floor commercial, upper floors vacant. 3 residential units ‘above the shop’ being created (previously non-residential) – based on maximum grant being paid.
€95,000 grant + €20,000 (for 2nd unit) + €20,000 (for 3rd + unit) = €135,000. Where Expert Advice Grant availed of in addition to the Vacant Above the Shop Grant – total package €140,000.
Scenario 2 – Ground floor commercial, upper floors vacant. 2 residential units ‘above the shop’ being created (previously non-residential)
€95,000 grant + €20,000 (for 2nd unit) = €115,000. Where Expert Advice Grant availed of in addition to the Vacant Above the Shop Grant – total package €120,000
Scenario 3 – Single story building with commercial element, vacant space (outside of commercial element) in building. 1 residential unit ‘above the shop’ being created (previously non-residential)
€95,000 grant. Where Expert Advice Grant availed of in addition to the Vacant Above the Shop Grant – total package €100,000.
The level of grant payable is contingent on the works being approved by the local authority as per the categories of works table (see below), with an approval letter being issued to the applicant. The approved grant will be paid on completion of the works, subject to a review of relevant invoices/receipts and a final inspection by the local authority.
Once a grant application receives approval, applicants must complete the works approved within a period of 18 months.
Where the newly created/refurbished residential units are being made available for rent, the Grant will be paid when a tenancy/tenancies has/have been registered for each of the units with the RTB and proof of same has been provided to the relevant local authority. Residential units created are not to be used for short-term letting/Airbnb4. Local authorities will carry out checks to ensure that this condition is being carried out to their satisfaction.
In respect of rental properties, all landlords are required by law to comply with the standards for rental housing and ensure that their properties are fully compliant with fire safety and minimum standards regulations for rental properties. See Housing (Standards for Rented Houses) Regulations 2019, https://www.irishstatutebook.ie/eli/2019/si/137/made/en/print. As part of the declaration to be signed in the application form, applicants must agree to meet and comply with these standards.