Apartment for sale in France

New development due for completion at the end of 2006 situated in Orcieres 45 minutes from Gap.

Ideally positioned between the Southern and Northern Alps, Orcieres 1850 is a small family resort which benefits from good snow conditions and south facing slopes.

In the heart of the National Ecrin Park the resort is an ideal base for both summer and winter activities.

Visitors are guaranteed a warm welcome in this resort situated just 45 minutes from Gap. It combines infrastructure with large open spaces, and perched at 1850 metres of altitude with the highest ski lift being at 2730 metres, there is good snow coverage right down to the resort itself.

The programme is to be of a 4* standard and will comprise 63 properties ranging from 1 bedroom units to 5 bedroom apartments, spread over 3 linked chalet style buildings.

Each apartment will be carefully designed with exceptional views over the Champsaur Valley.

The residence will benefit from a number of facilities ensuring the satisfaction of its visitors, to include; lounge area with breakfast area, laundry services, landscaped outside area, covered swimming pool, relaxation area with sauna and Jacuzzi and secure underground parking for each apartment.

The properties are being sold with an 11 year and 9 month lease which will commence from 10th December 2006. Rental income will start being earned from 20 December 2006.

Owners have the choice of two lease options as set out below:

1. Without Use
A maximum rental yield of 4% with a 20% discount on holidays in low season and 15% discount in middle high season. The discount can be used on all residences within the management companies catalogue.

2. With Use
A maximum rental yield of 3.2% with a holiday budget of approximately 1% (1% of the ex VAT purchase price) which can be used to purchase holidays from the catalogue. The holiday budget cannot be exchanged for money and if it is not used it will not be passed on to the following year.