Written by Tim Stanley – SUCCESS OF EARLIER DEVELOPMENT PROMPTS TWO MORE IN ‘ARCHETYPAL’ FRENCH ALPINE VILLAGE

The success of a development of new apartments in Samoens, one of the most picturesque traditional villages in the French Alps, has prompted the creation of two more nearby.

Leading developer MGM, which earlier built and sold apartments in La Villa Monette, now plans two new schemes in Samoens. One is a new residence de tourisme with 81 apartments for sale under the leaseback scheme; the other comprises 65 apartments for outright purchase on the site of a former garage in the heart of the village.

Located only 45 minutes by road from Geneva Airport, Samoens is approached through the wooded Giffre Valley with its beautiful river and waterfalls. Said to be ‘an archetypal French Alpine village,’ the focus of Samoens is its central square with a church, fountain and old market building.

The construction of the leaseback residence, La Reine des Pres, will start later this year on a site just 80 metres from the gondola linking the village with the 265 km of pistes which together comprise the Grand Massif skiing area.

“Not only is this residence conveniently located for the ski season, but it is also expected to be a popular holiday destination in the summer,” says MGM’s London-based sales consultant Richard Deans.

In addition to properties ranging in size from one-bedroom apartments to four-bedroom, two-bathroom duplexes, the residence will incorporate an indoor pool, sauna and jacuzzi, as well as steam and fitness rooms.

La Reine des Pres will comprise eight traditionally-styled chalets constructed using local materials, with finishes in timber and local stone on external walls. Inside they will feature pine finishes with tiled and parquet floors.

In keeping with MGM policy, the regulation standards for safety and aspects such as acoustic and thermal insulation will be exceeded.
Unlike many French developers, MGM includes in all its ski apartments fully-fitted kitchens complete with appliances, fully-equipped bathrooms and built-in wardrobes.

Every apartment also comes with cellar storage, a ski locker and covered car parking space.
MGM’s other development in Samoens, Les Ecrins Etoiles – in which the apartments are available for outright purchase only – will also have underground parking.

Built to the exceptionally high standards which are a feature of the leaseback residence, the properties will range in size from one-bedroom to three-bedroom, two-bathroom apartments.
The off-plan prices of apartments in the two new developments – both of which will be ready for occupation in December, 2008 – depend on size and position.

At La Reine des Pres, they will start at around euros175,000 for a one-bedroom apartment, but VAT at 19.6 per cent included in the price will be waived for leaseback purchasers, reducing the amount actually paid for a property at this price to just under euros150,000 (see Notes on the purchase of leaseback properties below).
The prices of apartments at Les Ecrins Etoiles, where more than half have already been sold off-plan – many to British buyers – range from euros256,000 for a two-bedroom apartment to euros630,000 for a three-bedroom duplex property.

For more information :
MGM French properties
Kingsland House
122 – 124 Regent Street
London W1B 5SA
Telephone 0207 494 0706 in the UK,
01 529015 in the Republic of Ireland
www.mgm-constructeur.com

Media enquiries :
Tim Stanley of
Tim Stanley Public Relations

Tel:01179 625 658