Property Details
Price in EURO : From €199,441.46 incl.VAT
Price in British Pounds : £176,614
Personal Occupancy : Yes
Location : Provence-Côte d'Azur, France
Delivery Date : 3rd Quarter 2010
Guaranteed Income : From 4.50% to 4.80%excl.VAT
Lease Length : 11 years and 6 months, renewable
Property Type : From Studios to 1-bed apartments
Facilities : Breakfast service, cleaning, linen, reception, laundry, WIFI, underground parking and swimming pool
The Residence
Close to Cannes, Mandelieu-La-Napoule boasts all the sun-drenched landscapes of the French Riviera: the sea, mimosa forests, golf courses and marinas. The town is reached via the A8 motorway (linking Aix-Nice-Italy). The Mandelieu development is located in the chemin de l’Olivet district, five minutes from the town centre, the beach and Cannes-Mandelieu airport.
The Mandelieu development borders Cannes Bay and is located at the heart of a top-end tourist area just a short walk from the Croisette.
The 112 apartments, ranging from studios to 1 bedroom apartments, meet quality, comfort and environmental standards in order to sustainably increase the value of your property.
Total price: incl.VAT
Studio: From €199,441.46
1-bed: From €410,750.06
Location Details
MANDELIEU LA NAPOULE
Mandelieu is home to the Cannes-Mandelieu space centre, the leading industrial company in Alpes-Maritimes, as well as the departement’s biggest exporter. The network of sub-contractors and economic partners stimulates the entire region. As for aeronautics, the town has a hub for aeroplanes, private jets, helicopters and high technology companies. With its six marinas including two maritime marinas, three river marinas and a dry dock, Mandelieu has the largest port capacity on the French Riviera and has over 100 nautical businesses. The town has become the place-to-go for amateur sailors and nautical professionals.
Mandelieu-La-Napoule is a coastal town on the Mediterranean ideally situated between the river Siagne and the “Big Blue”, at the foot of the massif d’Esterel and the Tanneron which develops the majestic mimosa forest. The town shows its dynamic nature in its three main areas, and six activity zones that forms part of its economic heart; these are Tourism, Space and Nautical activities.
On the banks of the Siagne in a residential neighbourhood, The Mandelieu development shares the Cannes bay in an area of high end tourism, not far from the Croisette. The rapid access to the motorway makes travel easy. The beaches and golf courses make leisure a pleasure. The exceptional lifestyle composing of water, greenery, space and quiet make this a programme second to none.
The Lease Agreement
The freehold apartments will be leased for 11 years and 6 months by a renowned management company. This is a leaseback investment offering a net rental yield between 4.90% and 4.50%.
The owner can occupy any residence under the Vacances or City Label in the management company portfolio with a 10% discount.
The VAT refund
By signing a management agreement for 11 years and 6 months, the VAT of 19.6% that is included in the purchase price of all new properties in France is fully refundable to the owner by the government following completion of the development. VAT paid within the purchase price of the parking and furniture package will also be refunded.
The Stage payments
At the signing of final deeds - 30% - Total 30%
At the completion of foundations - 5% - Total 35%
At the completion of the ground floor - 20% - Total 55%
At the completion of the first floor - 10% - Total 65%
At the completion of the roofs - 5% - Total 70%
At the completion of windows and door - 15% - Total 85%
At the completion of building works - 10% - Total 95%
At the handover of keys - 5% - Total 100%
Reservation Process
In order to take a property off the market, a 5% of the property price incl.VAT is the deposit requested. The funds will be transferred to the notary office in charge of the development and will only become available to the developer upon signing of the final contracts.
Full details of the buying process and the relevant parties involved will be sent to you upon request.