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Investors invited to buy in to new sexy French development |
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HOME >> NEWS >> Investors invited to buy in to new sexy French development |
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April 15,2008
 The developers of new residences in Paris claim they are set to revolutionise the buy to let French Leaseback tourism industry.
Parisian architect Roland Castro and French designer Philippe Starck have teamed up with the owner of the project Serge Trigano, the former president of Club Med, to produce Mama Shelter in Paris’s 20th district.
This is to be the flagship urban residence with seven more to come. It will have 172 rooms, plus a lounge bar and restaurant, and is scheduled to open in Sept 2008. Trigano will be managing the residence via his company Mama Shelter management.
Investors are being promised a 19.6 percent VAT tax refund, guaranteed rental income up to 4.20 percent, 30 percent discount off the public rate for personal stays which will result in accommodation for around 70 euros a night.
Apartments will be sold furnished with original objects signed by Starck. They are 20 minutes from Roissy Charles de Gaulle Airport and close to Villepinte, Paris’ largest exhibition centre.
“There will be an exclusive launch party for Mama Shelter in September when an announcement will be made as to the location of the other seven residences,” said Kate Pernacchio, marketing director at Imoinvest International. “We are very excited at being able to offer to the public such exciting, sexy and ultimately superior properties with excellent return potential.
“This is a new concept inspired by the ‘boutique hotel’ or ‘urban hotel movement’ phenomena, which is proving so popular to the discerning traveller. These are stylish, affordable, utterly cool, residences which mark the diversity of a city as beautiful and chic as Paris.
“Investors will be buying into an urban adventure with tremendous possibilities for capital growth as Paris property prices increase on average around 10/15 percent and in the last five years have seen a dramatic rise of 60 percent.
“French Leaseback is the most advantageous investment scheme for non- residents who are looking for a Buy to Let property. With recovery of VAT tax, commercial lease contract and guaranteed rental income this investment scheme rolls everything up in one with rental income, managing agent and tenant management all included at no extra charge.”
Prices range from 171,000 euros to 263,000 euros (£134,901 to £207,479 approx).
• Those seeking to buy some of the world’s most luxurious residential properties will find plenty of information under one roof when London Olympia's National Hall opens its doors on 21 & 22 June for The Exclusive Property Exhibition, EPEX 2008.
Now in its second year EPEX 2008, sponsored by the Financial Times, brings together luxury real estate companies.
EPEX 2008 is specifically aimed at high net worth individuals seeking to invest in exclusive UK or overseas properties in excess of £500,000. Many of the properties showcased will fall into the higher price categories ranging from £1m to £25m.
These include New York penthouses, Canadian ski lodges, outstanding European villas, Caribbean beachfront houses and country retreats in Colorado.
Those seeking land for investment or development will also be able to meet with land brokers and land bankers.
Apart from the properties that are being marketed at the show, visitors will also be able to meet with architects, law firms and financial institutions, all of which specialise in high-end property dealings.
Among the companies exhibiting at this year's show are a number of affiliates of Sotheby's International Realty, Christies Great Estates, Engel & Völkers, Trump Philadelphia and Warburg Realty Estate Partnership, New York.
Those wishing to attend can register free of charge by visiting the organiser's website at www.epex2008.com and completing a visitor registration form online.
Tickets will be sent out two weeks prior to the show, or alternatively can be collected at the door.
Source: http://www.fly-2let.co.uk/ |
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International Corporate Governance
This issue explores how governance attributes are directly related to the substantial variation - across both countries and companies - in ownership, investment and valuation. |
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