French Leasebacks: Le Petit Lac, a development of sale-and-leaseback lakeside apartments at the village of La Napoule beside Cannes have been launched off plans through Overseasproperties.com.
One hundred and seventeen apartments are on offer to Irish buyers prior to going on sale in the UK and USA. The scheme is located just five km from Cannes and overlooks Mandelieu Golf Course, the oldest golf course in the south of France.
Le Petit Lac development will have swimming pools, a wellness centre with spa facilities, tennis courts, sport grounds, and access to a private two-acre lake with mimosa and eucalyptus-lined walkways. Sandy Mediterranean beaches are nearby and Cannes is five km down the road.
Prices range from €225,557 plus Vat for one-bed apartments of 38sq m (408sq ft) going up to €409,305 plus Vat for 63sq m (678sq ft) apartments. Because the apartments qualify for the French-government backed leaseback scheme, investors will be able to claim back the 19.6 per cent Vat that applies to new investment properties.
The properties also have a guaranteed, index linked rental income for 11 years with a projected income of 5.4 per cent per annum. Owners can use the apartments for up to 182 days per year.
• Overseasproperties.com
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