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Houses for Sale in Cherbourgh with a guaranteed return up to 5.4%

Reference: CB5001 - 3 Bedroom Residential - €203,004
Location: Cherbourg, Beaumont, Cherbourg

Cherbourg Port

IFP Currency Converstion powered by FC Exchange

€203,004 is approximately :

Australian Dollars : $346,723

British Pounds : £163,682

Canadian Dollars : $314,400

Hongkong Dollars : $2,337,567

Japanese Yen : ¥32,563,823

New Zealand Dollars : $425,344

Swiss Francs : F327,458

US Dollars : $299,323

Please note that these conversions are approximate and for guidance only. They do not constitute sale prices.

€203,004

Bedrooms	Habitable	Land Size
3	95m²	532m²

3 Bedroom Residential - €203,004 - Location: Cherbourg, Beaumont, Cherbourg

Lower-Normandy, Manche, Cherbourg

This Property is For Sale by CB French Property Consultancy
Click here to visit this agent's IFP Microsite Click here to find more properties by this agent

Highlights

3 to 5 bedroom houses with own land
Classic purchase but a 9 years lease is offered by EDF (French National Electricity company)
Net return is from 5% to 5.4%
10 minutes from Cherbourg on a private estate
Notary fees only payable on land, so purchase cost will be minimun

Description

This is a great investment opportunity for those wishing to acquire a house in Cherbourg but will want an income for the next 9 years. This is not a leaseback so no vat issue and penality to leave the lease at the end of the period. EDF, France electricity company is relocating some of its office in Cherbourg and is in need of good quality accommodation for its employes, so they have approach us to secure a lease on these houses. The income is guaranteed for 9 years, index linked. A net return of 5% to 5.4% is being offered.

There is no obligation to renew the lease at the end of the 9 years, so the owners can decide to have it as a second home if required. The capital appreciation in Cherbourg is also very good.

The houses are being purchased with their own land, kitchen is fitted (the lease is unfurnished so the owners do not need to provide white goods), bathrooms are tiled, electrical shutters, garage with electrical opening, wooden floor in the bedrooms, sattelite and internet connection, phone and TV sockets in sitting room and all bedrooms. The architecture of the houses are typical of Cherbourg with slate roof. Each house is gated, with a garage and terrace.

Cherbourg is already a boyant city thanks to its port, culture and economic scene, but with a new economical pole being created next year (2000 new jobs) there is a high demand from the rental market.

The other main point for an investor, is that the notaire fees are only payable on the land so it is a small cost ( 0.615% ). The construction is being done by a developer very well known in that area and a late completion penality will apply.

Finance will be available to cover the cost of the land and the construction, up to 80% to the total price. if you require a mortgage in France you will be charge a Hypotheque fee - this is about 2% of the amount you borrow, payable to the notaire.

Cherbourg has got direct ferry link with Ireland and Uk via its main port.

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Once your enquiry has been sent the vendor will reply as soon as possible.

Features

Bedrooms: 3
Habitable Space: 95 m²
Land Size: 532 m²
Village
Town
Beach
Golf
Terrace
Disabled access
Double glazing

Condition and Utility Information

Condition - New
Roof - New
Drainage - Mains
Water - Mains
Heating - Electric
Electricity - Mains

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