LUCKY buyers investing in a new French lease-back scheme of townhouses in the beautiful region of the Languedoc will not only enjoy a leisurely, sun soaked lifestyle . . . they will also receive a share in ownership of the on-site vineyard and olive grove.
The development at Les Jardins de Saint Benoit sits on a 17-acre vineyard and spa estate on the edge of the village of St Laurent, right in the heart of the Languedoc.
Townhouses start from 205,000 for a one-bed; and from 255,000 for a two-bed.
This southerly region of the Languedoc stretches through some of the most dramatic landscape in the country, along a 300-km expanse of beaches from the Cote d'Azur to the Spanish border.
The award-winning developer, Garrigae Investments, strive to integrate its properties with the local community, using natural stone and materials authentic to the area in the build. This latest scheme will work as an extension to the small village of St Laurent de la Cabrerisse.
As such, the gentle pace and lifestyle that makes France the most visited country in the world will here include those characteristically leisurely pursuits . . . a game of petanque with the locals, an aperitif in the shade of a lemon tree, or the first tasting of the season's vintage.
On the other hand, all of the facilities expected from investing in a five-star resort are there for enjoying too. St Benoit has both an indoor and outdoor swimming pool, tennis courts, a terrace bar with panoramic views, spa, and gourmet Mediterranean restaurant. The children's club has large play areas, a small pool, and fun activities supervised by professional staff.
There will be a total of 166 properties, with a projected completion date currently set for September 2007. The lease-back contract runs for a period of nine years, with a guaranteed rental return of approx 5.59% per annum with Vat exemptions of 19.6%.
This return is index-linked to the IN SEE index of construction costs. On the other hand, says Tony Forte from selling agents DNG International, if the owner prefers not to rent out the property, they can buy it outright from the start without the leaseback arrangement.
"Obviously a number of these properties have been bought by investors who recognise that France is probably the best place in the world to buy.
"Plus it is so accessible from Dublin and buyers can avail of 80% mortgages in France. But most of all, the Languedoc is such a gorgeous region, blanketed in vineyards and scented with fields of lavender and thyme, with little fishing villages and ancient market towns all contributing to a pace of life uniquely Mediterranean."
DNG International 01-491 2600 www. garrigae. com
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