NEW: Cannes, French Riviera
Join the Beautiful People With Your Own Place 2 Minutes from La Croisette!
We have just two studio apartments available in this highly desirable location, just round the corner from the Hotel Martinez (where Daphne and I spotted Eva Langoria a few years ago) and five minutes from the Palais Des Festivals where the Cannes Film Festival is held each year.
This high quality facility is fully built and operational, operating under the well established French leaseback scheme. You can enjoy the Riviera lifestyle while making a 4.69% yield on your investment. If we’ve helped you set up an investment company alongside your trading company, speak to us about using an LLP alongside the investment company to give you even more tax benefits.
Bragging Rights and Up To 50% Discount!
As an owner of a studio apartment in this sought-after development you benefit from significant discounts when it comes to personal use, ranging from 50% in the low season to 20% in the most in-demand summer months. Take breakfast in the attractive dining room, then lounge by the pool until you’re ready for a meander down La Croisette, admiring the azure ocean or taking some retail therapy in the designer stores.
Sleep it off with a poolside nap then get down to the serious business of deciding which restaurant has earned your custom for dinner this evening. If you like a flutter, Jimmy’s Casino is right next to the Palais or you can indulge in a bit of celebrity spotting before retiring to your room.
If the footy on the telly is too much to miss, you can order top quality food from room service and steam it in the kitchenette area of the apartment. There’s also a spa and treatment rooms if you need a massage to recover from all that window shopping.
- A 22 square metre self contained studio apartment with a small balcony
- Underground parking space
- High quality fittings and furnishings
- Small kitchen area with coffee maker
- En-suite shower room
- Plenty of wardrobes and storage
- €8,953 rental income per annum, paid quarterly
- Leased back to the hotel group until 30/09/2027
- Service charge just €226 p.a.
Benefits of This Investment
- You are 2 minutes from La Croisette, the beating heart of Cannes
- You are 2 minutes from Rue D’Antibes, the main shopping street
- The Palais Des Festivals is 5 minutes away
- The weather is superb from February to November so you can take plenty of low season breaks at substantial discount
- You can fly to Nice from most major UK airports
- Monaco is a helicopter shuttle or scenic train ride away
- Of course you wouldn’t dream of mentioning to your friends that you own a place on the French Riviera…
Facts And Figures
- No matter what happens with Brexit, Cannes will always be one of the most visited towns in the most visited country on earth
- With 300 days of sunshine you are unlikely to experience bad weather if you stay for a week
- The apartment is priced at a very reasonable €191,492, equivalent to £164,000 at the time of writing
- There are legal fees of around €15K to pay, typical for a pre-owned property in France
- The rental income of €8,953 equates to a yield of 4.69%
- The annual service charge is just €226
- As we are based in nearby Antibes, we know Cannes well and this is undoubtedly in the best part of town. Many of the ‘Residences de Tourisme’ holiday apartments are further down the coast in the less desirable La Bocca area
- The property is run by a well established hotel group who run 12 other sites across France
- We inspected the property at the beginning of March 2019 and were impressed with the quality of the common areas, the fixtures and fittings in the apartment, the friendliness of the staff and the modern look and feel of the reception, dining area and pool
- The apartments are on the fourth floor and look out onto the street. There is no sea view but as soon as you turn right out of the front door La Croisette is right in front of you
- While we have 10 years experience of French leasebacks and Graham wrote the definitive book on them, we have partnered with one of France’s leading expert in leaseback resales to bring this opportunity to you
- We rejected numerous other properties we were offered before deciding to bring this one to your attention. We do not believe you will find a more desirable ready-to-use leaseback apartment on the Cote D’Azur today.
Risk Factors And Mitigation
- Obviously this investment is denominated in euros so there is a currency risk for a British buyer. However, if you buy into Elite’s strategy of meta-diversification, you will recognise the benefits of owning assets in multiple countries and multiple currencies
- If the euro strengthens further after you have purchased, when you eventually sell you will receive more pounds for the equivalent amount of euros
- While the French property market is not buoyant, Paris and the Cote D’Azur are always the last to fall and the first to rise – you are buying into a global market, just like those overseas investors who buy London property
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