Golf-side apartments with finance provided

Mist rises over the golf and spa resort at Les Domaines de St Endreol, Golf and Spa Resort in the south of France. Above is the terrace restaurant at the development.

ERNA Low Property has recently announced the release of 25 apartments for sale at Les Domaines de St Endreol, Golf and Spa Resort in the south of France. It is 45 minutes from Nice International airport and 30 minutes from St Raphael train station in the heart of Provence.

The development consists of a range of villas and apartments 30 minutes from the Mediterranean coast and towns such as St Tropez, Cannes and Monte Carlo.

It is an award-winning project, established in 1992, that on completion will consist of nine phases spread over a 350-acre resort. This latest release of 25 two-bedroom apartments makes up the sixth phase of the resort and presents the first opportunity to acquire leaseback property on the resort including the 19.6% VAT return this entails.

The French property market, while not exactly in the stratosphere, continues to grow moderately despite the recession and generally picks up further over the summer months as foreign visitors flock to the area.

Although this is a leaseback development, it has a unique aspect to it as the rental is guaranteed by SMBC (Sumitomo Mitsui Banking Corp) until 2019.

The management company, SEGSE, has been managing this development for the past 15 years. There are three income options for purchasers. The first is a full cash return of 3.9% net per year with no occupancy, second is a 3.6% net return with three weeks occupancy and finally a 3.3% net return with six weeks occupancy per year.

Each owner will benefit from exclusive privileges such as access to the 18-hole, par 72, 6,746 yard long golf course for the duration of the contract. The course runs along the river Endre and is renowned for the drop onto the water-surrounded green on hole 13. It is also rated among the top 10 courses in France. There is a clubhouse, café, pro-shop, and a restaurant with a terrace.

Purchase also includes free access to the spa which features an aquatic treatment pool, Turkish bath, saunas, indoor pool, deep relaxation room, beauty services and a tea room. There is also access to power plates, water aerobics classes, cross training and tennis.

Building has already completed, so a property can be used as soon as a purchase is made. There are 20 apartments left for sale and Erna Low has negotiated with a selection of French banks to offer finance. 100% mortgages are available offering fixed interest rates for up to 25 years, subject to conditions.

Properties range in size from 66.55sq m. to 71.65sq m plus large balconies. Prices start from €287,100 and run to €355,500 for a fully furnished two-bedroom apartment.

More information: Contact 00 44-207-590-1624 or visit www.ernalowproperty.co.uk.


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