Address: Sete
Town: 20 mins from Montpellier
Location: By the Beach
Price in Euros: €103,572
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Department: 34 Herault
Regions: Languedoc Roussillon
Non Leaseback Investment: yes
Leaseback/Investment: yes
Seller: Agent Listing
Status: For Sale
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Type: Apartment
Condition: Good
Full Description: 'Cap Corniche' - seafront apartments in what is often known as the French 'San Francisco'. Unique location great investment opportunity. Prices from 103,572 € to 204,000 €.
As featured in the Daily Mail Overseas Property section, 28 April 06.
The delivery is immediate. They are sold furnished but the owner can do whatever he wants with the furniture: kitchen with Dish washer and micro owen, (4 years old and good condition), 3 beds, tables, chairs, condition average.
ALL APARTMENTS HAVE A SEA VIEW. The development is located in nice landscaped gardens with a large pool and 2 tennis courts. It is 2 km from the town centre and there is a direct bus to and from the railway station.
The apartments are sold as a conventional property (second home, holiday home or buy to let) with an option for a management contract with local agency to rent it.
Purchase costs are approx 5% plus mortgage fee, hence allow up to 7%.
Reservation procedure: 5% on reservation and 5% on signing the "promesse de vente" (preliminary contract) so in 2/3 weeks. The preliminary contract will be registered in France.
Work in progress: renovation of the pool, facades, gardens, corridors.
Monthly expenses to be paid by the owner: 1-bed 100 euros, studio 85 euros, to cover expenses of the pool, 2 tennis courts and gardening the park.
We consider that this is an exceptionnal investment opportunity as the apartments are well priced in a very sought after area and so a chance of strong capital apreciation (the SOuth-East has seen 10.3% growth in the first quarter alone this year and over the last few years has consistently been the strongest property growth region in France).
CAP CORNICHE SETE
RENTAL POTENTIAL (Local agencies)
Studio 26 m²
Terrace 6 to 9 m²
390 € / month long term rental
280 € / month September to June rental (students)
Seasonal rental September - June 5760 €
2 960 € Seasonal July and August only
Studio 26 m²
Terrace 20 m²
420 € / month long term rental
300 € / month September to June rental (students)
6 080 € Seasonal rental September - June
3 080 € Seasonal rental July and August only.
1 bed 38 m²
Terrace 6 m²
510 € / month long term
400 € / month September to June rental (students)
7 470 € Seasonal rentals June - September
3 470 € Seasonal rentals July and August only.
And so on.
Agency fees of 7.2% for long term let and 21.5% for short term let.
Option for guaranty to cover unpaid rents, damages and vacancy. These figures are given for information and are not contractual. These figures have been given by local agencies.
Site visits can be arranged.
Option to purchase as a leaseback (LMNP).
Location: Ideally located at 30 km from Montpelier, 1h30 from Toulouse, 3 hours from Barcelone and 3h30 from Paris by TGV.
Purchase scheme: conventional property so very easy to resell and get the capital gains in a very sought after area where property prices still increase significantly. Legal fees are approx 7%.
Short Description: Sea front apartments in Sete, Languedoc, studios and one beds, classic purchase, either full owner occupation or three non leaseback rental options, pool and tennis courts. Great capital growth potential.
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Agent Info
Listed by: Nicole Hammond | Contact Agent
Phone: +33 (0)4 67 26 90 42 | Mobile: +33 (0)6 32 07 84 13 |
Info: English Bilingual Property Hunter
Please try my landline first as my mobile reception is poor through these thick stone walls.
I live in a small village in the south of France (in the Hérault, Languedoc Roussillon), between Béziers and Pézenas for those of you who know the region.
SIRET NO: 00011
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