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Expat Investor : September October 2009
EXPAT FRANCE expatinvestor.com 24 EXPAT INVESTOR September/October 2009 booking in the guests to keeping the property maintained in good order, replenishing necessary furniture and fittings, tending the small garden and terrace, managing the laundry and cleaning and generally ensuring all guests are looked after during their stay. There are a number of different options buyers can go for, all of which will affect the guaranteed income percentage and all relate to the amount of time each owner opts to keep the property for personal use. Guest prices per night, including hotel service, are as follows: a two- bedroom village house 260, and for seven nights 1505. For a four- bedroom house with private pool the rate per night is 495 and for seven nights 3010. Throughout 2009, children (up to age 12) visiting with their parents may stay free of charge. This offer includes all accommodation and meals. An extra bed for 13-year-olds and upwards costs 30 per bed/per night. For everyone over the age of 13, remember to add on the tourist tax of 65 cents per night. The region has a rich and varied history. It was home to the heretic sect the Cathars, whose medieval town of Carcassonne lies just 30 minutes' drive away. Here you can get lost in the winding pedestrianised streets and follow the fate of the last Cathars. Toulouse is no more than 90 minutes' drive. Or you can head out for the Mediterranean coast, which lies just an hour's drive away. The local town, Marseillan, is also home to a second Garrigae Resorts development. I visited Port Rive Gauche, which has an unrivalled location. Open the Fr ench windows to your apartment here in the mornings, sit on the verandah and the only sound heard will be those waves you can see in the picture lapping on the shore below. The town is char ming; an unspoilt marina is flanked by cafés and bars and the distillery of the well-known aperitif, Noilly Prat. Those staying at Port Rive Gauche can also hire the development's yacht and indulge in some sailing. Owners of either resort can swap their credit days to accommodate a stay in the other resort. So, if you're an owner at St Benoit, you can book yourself a weekend retreat on the coast through using up some of your annual days' allowance there under the leaseback agreement. Port Rive Gauche also offers spa treatments. These should be booked when your accommodation is allocated. Of the 11 apartments, there are two remaining unsold -- both with two bedrooms, both covering 81 sq metres. The second floor apartment is slightly more expensive at 460,000 (on account of the view from the verandah), and the first- floor apartment has an asking price of 425,000. Again, these apartments' prices include furnishings. The decor reflects the location, with bleached floorboards and occasional furniture looking as if it's been tastefully crafted from driftwood, but all of which doesn't sit incongruously alongside up-to- the-minute kitchen technology. (Each apartment is installed with a triple-purpose oven, for example.) As a guest, prices for a suite per night with hotel services range from 130 (low season) to 260 (high season). As with St Benoit, these apartments are sold on a leaseback arrangement and interested buyers should ask about the guaranteed rental income package from Garrigae. Expats may also want to consult their financial advisers as to the scope to make such an investment part of their SIPP. If your intention is to buy to keep the purchase as a commercial property, you can look into the possibility of staying at St Benoit as a guest in another owner's property -- just one way to get the best of both worlds. www. garrigaeresorts.com "Open the French windows to your apartment here in the mornings, sit on the verandah and the only sound heard will be those waves you can see in the picture lapping on the shore below." "... if you're an owner at St Benoit, you can book yourself a weekend retreat on the coast through using up some of your annual days' allowance there under the leaseback agreement." Getting there: Carcassonne from London Stansted, East Midlands, Liverpool, Dublin, Shannon with Ryan Air. To Perpignan from London Stansted and Beziers Cap d'Agde from Luton with Ryan Air. Continued from page 23 To Toulouse from London Gatwick, Manchester, Dublin via Gatwick with BA. This year, Ryan Air is opening three new lines linking Carcassonne to Edinburgh, Bournemouth and Frankfurt- Hahn.