The Kennedys summered there, and it's where Al Gore first leaned about hanging chads, now Irish property firm Ailesbury Investments is inviting Irish investors to take a slice of its €10m Massachusetts yacht club.

The Dublin-based firm has opened what it claims is the first tax-free Us investment pension scheme for Irish citizens in its redeveloped 6.3 acre celebrity bolt hole Bass Marina at West Dennis, Cape Cod. It boasts 160 berths, 180 dry-racks, a fueling berth, slipway launch, boat showroom, repair yard, winter storage and service facilities along with a full bar and restaurant facilities.

Ailesbury has been advised that Irish self-administered pension scheme investing in the marina will not be subject to income tax on any rental income received. It is understood that capital gains tax on resale profits is exempt if investors chose not to avail of the yacht club membership and keep the investment at "arm's length."

Scheme director Frank long said Irish investors can inject a minimum capital requirement of €50,000 either individually or through an approved retirement fund.

"We are very confident in the growth prospect for this investment," he said. "Marinas in the Cape Cod and Boston regions of Massachusetts are in great demand and berths and dry-racking are at a premium in the area with close uo to 100% occupancy in the Cape and Boston area. There will always be demand for these slots and the investor is secure in knowing they have a solid, secure and sought after investment".

Long and fellow Ailesbury founders, Dennis English and Liam Hurley, are banking on an upsurge in global yacht sales making the marina a strong going concern as wealthy Americans choose to invest in appreciating water craft during a turbulent property market.

"Berths and dry racking will be rented to this market, allowing strong rental growth figures to be generated," said long. "All the rent is paid yearly in advance, berths and dry-racking are also subject to a very strong resale market, which also bodes well for our investors who are free to sell their investments at any time at fair market value."