Full Description

LEASEBACK - This latest leaseback ski programme in the heart of Les Orres ski resort. Located at 1700m, the residence offers ski in - ski out and has a fabulous view on the valley and the surroundings mountains. Situated in the Hautes Alpes, the resort offers a mix of snow and sun; the area benefiting from 300 sunny days a year. The resort has a year round appeal with a large lake nearby. The residence is to be built to match the traditional surrounding buildings of mountain architecture. It benefits from a wooden structure and balconies that recalls the local traditional architecture. Prices and yields to be announced. What is Leaseback? • Guaranteed index linked income • Refund of VAT currently 19.6% • Established developer • Fully furnished The Leaseback scheme was established in France in 1976. It is open to non-residents and is becoming increasingly popular in the UK as either a pure investment with a guaranteed income, as a holiday home option, or both. The scheme works by purchasing a freehold property which is then leased back to the developer or a management company. Under the leaseback scheme the French government refunds the VAT of the property (currently 19.6%). The purchaser can also enjoy periods of usage through the year, depending upon the terms of the lease. The developer or management company is responsible for all the maintenance of the property including the maintenance of furnishings which are typically included in the purchase price. The developer is responsible for insuring the building and contents. It also pays for many of the local taxes and all the utility costs. The owner is then guaranteed a rental income. The net return is index linked annually to construction costs. Tax allowances apply in respect of interest payments, legal expenses etc. If the property is held for 15 years there is no French Capital Gains Tax.