In the context of the housing crisis, the Government is cranking up the incentives to bring disused property back into the housing stock, so your plan is very much in line with what they are trying to encourage.
You’ve got the figures spot on. Allowing for indexation up to the end of 2002 brings the purchase cost of this property to £18,996 in “old money”. There are limits. The value of the site must be no more than €500,000 and cannot be larger than one acre in size. I know the town you’re talking about well and assuming this property is in the town proper, neither of those factors should be an issue for you.
Can't wait for the Movie - Hooray!
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