French Leasebacks: Three very different leaseback schemes in France - from the Languedoc to Montpellier to one near Grenoble in eastern France - are being launched on September 8th and 9th by agent Colliers Jackson-Stops and on September 16th by Douglas Newman Good.
The DNG scheme of one and two-bedroom townhouses in Les Jardins de Saint Benoît Vineyard Estate and Spa in the Languedoc will cost from €205,000 for a 46sq m (495sq ft) one-bedroom townhouse up to €635,000 for a 146sq m (1,571sq ft) unit.
Owners of homes in the scheme - near the village of St Laurent de la Cabrerisse - also get a share in the vineyard and olive grove in the development, says the agent. There are indoor and outdoor pools, tennis courts, a restaurant, spa and children's play area in the scheme. Developer Garrigae is promising up to 5.59 per cent rental return per year with Vat exemptions of 19.6 per cent. It is for sale through Douglas Newman Good on September 16th.
Meanwhile Colliers Jackson-Stops has a development of 147 apartments in a three-storey block in a new business area, L'Orangerie, of Montpellier: they will cost from €117,298 plus Vat for a studio apartment of 19.65sq m (211.5sq ft) to €148,136 plus Vat for a 25.8sq m (277.7sq ft) one-bedroom apartment .
The sceme is 7kms from Montpellier International Airport and a three-hour train journey from Paris. Facilities included in the development are 24-hour reception, a full breakfast service, cleaning and linen service and a business centre.
The same agent is selling units in Residence Splendid, a development in Allevard Les Bains, between Chambery and Grenoble in eastern Fance. Therestored hotel was built in the 1920s by Gustave Eiffel, of Eiffel Tower fame. Apartments will have views over the town and the nearby Alps from their terraces. Activities nearby include skiing and health spas.
Residence Splendid consists of 125 apartments in a six-storey building, and facilities are simlar to those in L'Orangeries in Montpellier.
Allevard Les Bains is an hour and a half from Lyon Airport and a three-hour train journey to Paris, according to the agent.
Prices range from €70,363 plus Vat for an 18.69sq m (201.1sq ft)studio apartment to €123,658 for a 53.72sq m (578.24sq ft) two-bed apartment.
Both projects have a guaranteed index-linked rental income for 11 years with a projected income of up to 5.1 per cent per annum, says the agent.
