Gordon
Brown did a U-turn on SIPPS but
there is still a way to purchase French Property
and have your Pension pay for it.
An excellent way to invest in property in France is
through buying a leaseback property which benefits from
a government-backed VAT-refund incentive, designed to
encourage investment
in tourist residences. Through freehold
ownership of an apartment or cottage that is leased back
to a management company for a minimum period of 9 years,
investors benefit from guaranteed annual returns from
their fully managed and maintained property with relatively
low up-front costs and no ongoing maintenance or running
charges.
Main features of a leaseback property
What does leaseback mean?
Investors buy the freehold of a property outright but
lease it back to a management company who specialise
in the tourist management, maintenance and rental of
these properties for a minimum 9-year period. In return
owners receive a guaranteed annual return, irrespective
of occupancy of the property, NET of all communal charges,
maintenance and running costs.
The
Management Company are uniquely and very importantly
the developers and the managers of the properties,
with 6.6 million clients staying in one of over 250
residences
in 6 European countries each year so have a very
clear vested interest in the quality construction,
location
and ongoing maintenance of the properties.
Reece
Carrington are members of FOPDAC Membership No.
1300F
