RELAIS SPA **** - PARIS ROISSY

Transcription

1 RELAIS SPA **** - PARIS ROISSY Situated in Roissy en France, in the International Business Park bordering Paris Charles de Gaulle Airport. The Relais SPA will be composed of 271 apartments in a 4- storey building.! 246 Studios! 25 1-bed apartments LEASEBACK 4 Star Residence 5.1% NET return The Residence is ideally located, in the town of Roissy en France, 5 minutes from the Charles De Gaulle airport and 30 minutes from Paris. The Four Star SPA Residence will provide short to medium stay self catering and high standing accommodation with services to suit both the business and tourist community. The Residence will offer the only SPA services available in the area. Services will include:! 24h reception! Restaurant, Bar! SPA (care, treatments, massages )! Swimming pool, Jacuzzi, Steam room, sauna, Gym! Cleaning & linen service Location map The Residence Phases 1 & 2

2 A Strategic Location Roissy-en-France 1 st Business centre of Northern Paris A prestigious Business Centre composed of 2 Business Parks in Roissy en France including 450 large Corporates and SMEs.! Roissy / Charles de Gaulle, a city on its own, employees within 700 businesses. The 2 nd largest airport in Europe. 170 Airlines fly to and from 128 countries around the world.! A crossroad between AIR, RAIL and ROAD Accessibility to and from the airport is exceptional. The TGV station situated under the terminal allows seamless transit to main French cities and Brussels. The RER, connects the airport to Paris centre in just 30 minutes. By road, the A1 motorway allows for fast access to Paris and all other directions. The Exhibition Centre Villepinte On 47 Acres, the Exhibition Center of Villepinte, situated at 5 minutes from Roissy hosts over 100 national and international exhibitions a year representing 1.3 millions visitors including 30% of international visitors. The Aeronautical & Aerospatiale exhibition Le Bourget Created in 1908, this prestigious exhibition brings, every year, professionals and passionate that travel from all over the world to see flight and technology demonstrations. Le Bourget is located 15 minutes from Roissy. Leisure Parks! Astérix Park Situated at just 15 minutes from Roissy, the Astérix leisure park enjoys 2 Million visitors per year.! Disneyland Resort Paris Situated at just 30 minutes from Roissy, the Disneyland Resort Paris enjoys 12 Million visitors per year.

3 A Four Star SPA Residence with the corresponding attention Furniture and Fittings Pictures taken in other similar residences of the Reside Etudes Group The Kitchen area Office Area Fold-up bed for Studio Bathroom

4 Facts! 9 year lease with guaranteed and index linked rental income! 5.1 % Net Guaranteed Annual Return! Recovery of VAT from purchasing price (19.6%)! Completion date : December 2008! Adjacent to the Paris Charles De Gaulle airport! 20 minutes from Paris by car! 30 minutes from Paris centre by RER Price Guideline Apartment Type Price (VAT excl.) Furniture incl. Payment Schedule Average surface area Comments Studio From 150 K 29.8 Sqm Furniture and Parking Included 1 bed From 219 K 45 Sqm Furniture and Parking Included Capital Appreciation for apartments in the Paris region % in % yearly average over the last 5 years Source FNAIM (French Federation of Estate Agents) Apartment & Parking Total! 5 % Deposit at reservation stage 5 %! 20 % Foundations in progress 25 %! 10% Completion of the foundations 35%! 10 % Completion of the first floor 45 %! 10% Completion of the last floor 55%! 15 % Roof fitted 70 %! 20 % Completion of internal partitioning 90 %! 5 % Completion of internal decoration 95 %! 5 % Delivery 100 % Furniture Total! 100 % Signature of the title deed or power of attorney 100 % The installments are calculated on the VAT Excluded price. The VAT is pre-financed and recovered by the developer.

5 Annual costs & taxes! Land & property tax (Taxe foncière) This tax is applicable to the property owner whether the property is leased or not. This estimated annual tax for the Residence is: For a studio apartment: ~ 200 / year For a 1-bed apartment: ~ 300 / year! Running costs All on-going running costs are covered by the management company. Heavy renovations only will be payable by the owner.! Accountant costs The accountant firm GEFI / EUREFI has been selected by the developer to look after the necessary registrations and tax declarations on the buyer s behalf. EUREFI will represent the buyer before the French tax office. It is also its role to retrieve, on your behalf, the VAT which will directly be paid to the developer. The accountant s fees are 420 VAT Excl. Costs associated with the buying process! Legal fees - For this property the legal fees, mainly composed of the Notary fees & stamp duty will be approximately of 2.5 to 3% the property price. - When a French mortgage is required to finance the property, a 2 to 3 % mortgage registration fee applies as well.! Other costs - When taking a mortgage in France, the lending institution will charge a once-off mortgage arrangement fee of 1% of the mortgage required. - If you choose to sign a power of attorney in Ireland rather than traveling to France to sign before the designated notary, the Irish Notary Public will charge a fee of approximately 80.

6 Financing For non residents, up to 80% mortgage for up to 25 years can be arranged with Crédit Foncier, the financial Institution we have partnered with. Crédit Foncier is a leading French financial institution which meets investors expectations with a wide range of highly specific and original solutions. The Developer & Operator The Reside Etudes Group, established in 1989, combines Property Development with Property Management. Initially the Group focused essentially in developing and managing Student Residences then it diversified in three main areas. 1. Development and Management of Furnished accommodations - Student Residences - Les Estudines - Business & Tourism Residence - Residhome - SPA Residences - Relais SPA 2. Development of Buy to Let Residential Property Les Activales 3. Development of classic Residential Property Domaine de Charme In 2007, the Reside-Etudes Group will have created over - 70 residences developed in France apartments under its management owners / investors

7 The buying process! Step 1 Signing of the preliminary contract Once you have chosen an apartment we will ask you, within 7 days, to sign a preliminary sales contract as well as all the annexed documents (property description, apartment plans, general site plan, etc ). At that stage you will be required to transfer the 5% refundable deposit to the Notary s account. The documents will be sent to the developer to be countersigned.! Step 2 The cooling off period The countersigned documents will then be sent back to you by registered post. Upon receipt, French law allows for a 7 day retraction period (cooling off period) where you, as the buyer, can stop the purchase process and be refunded of your deposit.! Step 3 Financing If required, the mortgage and current account in France should be applied for as soon as the preliminary contract is signed. When meeting for the signature of the reservation contract, we will ask you whether you wish to finance your property with a French mortgage. If it is the case we will provide you with the process to be followed.! Step 4 Signing of the title deeds or power of attorney Signing of the deeds can be done before the notary in France. In general, Irish investors sign a power of attorney before a Notary Public in Ireland allowing the French notary to sign the deeds on their behalf. On average, it takes six months to complete steps 1-4 Disclaimer Every effort has been made to offer information that is current, correct and clearly expressed. The information in this summary is intended to be no more than a general overview of the position and certain details have been deliberately omitted. The contents of this document should not be taken as an authoritative statement. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.