INVESTMENT PACKAGE AND RETURNS

The developer, Immoconcepts, is offering a select few apartments for sale on the investment deal.  This offer is targeted purely at investors who are looking for high guaranteed returns, in this case set at an annual net return of 5.3% (to cover mortgage payments AND life insurance) for the first nine years with high capital growth expected for the area.  This return is index linked.  An attractive main advantage of this scheme is that stage payments are all taken care of for you.

CHARGES AND FEES

Conveyancing – our qualified solicitor will provide a full conveyancing service for a flat fee.

Costs on top of purchase price: notaire fees (approx 3%), bank fees (1-1.5%) and mortgage arrangement fees (0.75%)

Yearly life insurance payment (to be covered by your yearly rental return along with your mortgage)

EXAMPLE COSTINGS, FEES AND GROWTH POTENTIAL

We will be able to provide examples of growth projections, fees and deductions at varying terms of investment.

WHAT YOU NEED TO KNOW

This package includes a guaranteed property management service for the first nine years after which the contract must be negotiated.  This service includes lettings, property upkeep and maintenance, and all administration.

If you decide to sell before the 20 year leaseback period expires, investors will be responsible for repaying the VAT at 1/19th per year up to 20 years.  This does not apply if you sell to a purchaser who retains the property in the leaseback scheme, or if you decide to keep the property for your own personal use (i.e. not on the leaseback).

Usage rights can be negotiated during off season periods.  A cleaning charge of Euros 200/week will be charged.  In peak season investors can rent the property at a discount of 15% off the printed commercial rental rates.

The developer, is a secure and sound organisation and provides a garanti d’achevement (completion guarantee) to all purchasers – i.e. either the developer must hold substantial funds (up to 70%) required to complete their projects, or must have financial backing from a third party (bank or insurance company).

*  Based on capital appreciation of 7.5%

**  Subject to notary and finance fees

THE RESORT

In the Haute-Savoie region conveniently situated between Geneva and the Mont-Blanc, Flaine is nestled in the heart of one of the biggest skiing areas in France : “Le Grand Massif”.
At just over an hour drive from Geneva Airport and 30 minutes drive from the motorway, Flaine offers some of the best winter skiing in a unique and friendly environment for which it is renowned.

The high altitude and the exceptional geographical location of Flaine
guarantee its optimal snow cover throughout the season in dramatic surroundings. Skiers and Snowboarders rule the 265 kms of pistes. Snowshoeing and cross-country skiing is also available amongst the numerous wild runs in the forest dedicated especially to these activities.

THE FACILITIES

After intense exertion, relaxation!

A mountain holiday should also include rest, relaxation and time to recharge. Flaine offers a number of possibilities in beautiful surroundings. From sledge rides, hiking, climbing, swimming, a cultural centre, cinema, pool, ice rink and bowling… You will be spoiled for choice!

Comfort and relaxation

Within the heart of the complex, our state-of-the-heart health club is available for all guests. The facilities include a heated indoor swimming pool - perfect for relaxing the muscles before or after a day ' s skiing - sauna, hot tub, massage room and a fitness area featuring the latest equipment.


Chalets and apartments for a top-notch family ski holiday!

Each chalet and apartment is equipped with a voluminous living room, comfortable sofas, a home cinema, a large LCD satellite television with DVD player and PC media centre with WIFI and internet access. In addition, each bedroom is equipped with LCD satellite television. Each apartment has a fully equipped kitchen and a bathroom.  

WHAT THE PRESS SAYS

Awakening a sleeping beauty

By Belinda Archer, FT.com site
Published: Jan 05, 2007

To some, the 1960s purpose-built ski resort of Flaine, in the Haute Sauvoie region of France , is a ghastly concrete monolith resembling a rather grim, inner-city housing estate. To others, it is a thing of beauty, an austere Bauhaus masterpiece, deserving of the national monument status given to two of the original Marcel Breuer-designed buildings in 1991.

To developers, Flaine ' s look is neither here nor there. What is important is its location; in the middle of a 256km ski domain, high up in Le Grand Massif at 1,600 metres, yet just over an hour ' s drive from Geneva airport. Both Canada ' s Intrawest and France ' s Immoconcepts are now building at the resort.

"We look at many criteria when we decide to develop a winter resort ; the magnitude of the ski domain, the altitude, the infrastructure," says Robert Jerome of Intrawest, which has 20 other developments in Europe and North America . "Flaine has a great ski area and the lifts are operated by the Compagnie des Alpes, who are a sign of quality with good snow-making and excellent lifts. And it has great snow. We simply wouldn ' t develop where there was bad snow."

Patrick Remme, president of Immoconcepts, is similarly enthusiastic. "It ' s a very snow-secure, diverse ski area, just north of Mont Blanc . You can ski in May, and there is still a lot of snow even after that." For the summer months, there is also an 18-hole golf course.

Flaine Montsoleil is Intrawest ' s project, a 35,000 sq metre gated ski-in, ski-out development with 500 luxury apartments, restaurants, bars, ski rental outlets and a leisure centre at an "eagle ' s nest" perch of 1,700 metres. Immoconcepts is meanwhile offering La Pierre Carrée, 60 chalets and apartments at 1,850 metres overlooking the original Flaine Forum, all built around a central construction with a restaurant, lounge, bar, childrens ' club, wellness centre, shops and a covered car park for 150 cars.

These will be a depature for a resort that was previously known for its basic, no-frills, two-star club hotels as much as its concrete. So why has it taken so long to update Flaine? The timing for both projects has hinged on various factors. It took five years for the Flaine Commune and SAG, the Compagnie des Alpes subsidiary charged with the development of Le Grand Massif area, to work together and untangle the complex process that would release planning permission for building big-scale developments on any of the land.

"It has effectively been a sleeping beauty for over a decade because there were no rights to develop," Jerome explains. Also key was the construction of an essential purifying installation for the sewage system. While this is still not complete, it will be finished by the time both new developments are finished. Construction of La Pierre Carrée starts in May, with completion scheduled for December 2008, while Montsoleil should be finished in summer 2008.

Possibly to the relief of many, the architecture of the new areas is not bound by any Bauhaus requirements. "Flaine is a national monument and there are restrictions on building there but there is a perimeter around those listed buildings where you have to do the same [type of] architecture, and we are outside it," Remme explains.

Hence La Pierre Carrée, named after the rock it is built upon, will use traditional chalet materials of wood and stone, a far cry from Breuer ' s "prototype of modern urban development", where the concrete was designed to blend in with the surrounding scenery. Inside, instead of modernist efficiency, the properties will have four-star comforts, parquet flooring, rustic plasterwork, antiqued wood, LCD televisions and wireless connections.

Jerome says Montsoleil will be "modern but not concrete". "The architectural style obviously has to blend with what exists but we aren ' t trying to copy it," he says. "The error would be to go in with mega concrete buildings. Nowadays people want contemporary design using materials of the region. The architectural lines are more modern, with wood and stone, and bigger glazed surfaces because of the views. It will be a symbiosis of the modern with the traditional."

Not surprisingly, Flaine officials are excited by the prospect of the town ' s imminent explosion. William Fux, director of the tourist office, comments: "Flaine was designed too small to be completely self-sufficient and have the capacity to invest in its own renovation and renewal of products, services and facilities. It holds 9,400 beds only, compared to other major French resorts that have between 18,000 and 35,000 beds."

The new developments will help Flaine "catch up with the market by creating accommodation and facilities that correspond to modern demand", he adds. "Most similar altitude resorts started redeveloping and renewing themselves about five to 10 years ago. After 15 years without change, Flaine is reinventing itself."

***We are also delighted to represent Intrawest's development Flaine-Montsoleil