| Ref No. FRA10146 > la residence du Parc St. Martin |
Price: £
115,000 €
|
| Property Type: | Apartment |
| Category: | |
| Location: | Inland |
| Region: | Argentan, Western France |
| Status: | AVAILABLE |
| Bedrooms: | 1 or 2 |
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Parc St. Martin is a luxury development of 46 1 & 2 bedroom apartments, in the Rue De La Republique, Argentan. There are 26 apartments remaining for sale. This is a pure 'hands off' investment proposition which is self financing. There is a guaranteed rental in place. Apartments cannot be used for own occupation.
The rebuilding of the town26 remaining 1 & 2 bedroom apartments out of a total of 46.
Prices;
1 beds from Euro £115,000 , 2 beds from Euro 150,000
These apartments are self financing. Once the purchaser has paid their initial deposit, there will be no more payments to be made.
The rental income (GUARANTEED FOR 9 YEARS) together with any surplus from the initial deposit will cover all outgoings, including, Mortgage interest, management charges, life insurance premiums and the tax fonciere.
On a very conservative assumption of 5% annual growth the projected 10 year return on investment ranges from 169% to 282%.
Properties will be ready to complete July 2009
Property Details
Area Description
Parc St Martin is situated off the rue Republique in the town centre of Argentan, a thriving town of some 17500 people. Argentan is located about 190km west of Paris (about 2 hours away by train), and some 60km south east of Caen. The river Orme which gives its name to the Department in which Argentan is situated runs through the centre of the town. It has a number of historical buildings including the Tour Marguerite and a Grand Chateau dating from the 15th Century and 2 fine churches, St Germain and St Martin both dating from the 15th Century. There is also a Benedictine Abbey and the old city fortifications. The town was severly damaged during the 2nd Warld War where it formed the southern tip of the US pincer movement that closed the 'Falaise Pocket'. The rebuilding of the town largely retained its historic features and it remains an attractive and charming town.
Other Info
The french property market has been one of steady growth, without the bubbles experienced in the UK and Irish property markets. The French market is largely driven by French domestic purchasers and not by foreign investors except in a few areas such as the Dordoigne France also has a long established and very bouyant rental market with a ready supply of potential tenants. Between 1997 and 2007 French property pices increased by 144%.
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