BUYERS SNAP UP BRAND NEW BELLE �POQUE APARTMENTS

Building work is about to start on brand new homes in the heart of Chamonix where, undaunted by the current economic climate, off-plan buyers have snapped up half of the apartments planned by MGM, the leading developer in the French Alps.

Building work is about to start on brand new homes in the heart of Chamonix where, undaunted by the current economic climate, off-plan buyers have snapped up half of the apartments planned by MGM, the leading developer in the French Alps.“This is a very rare opportunity to buy a new home in Chamonix, a popular centre for holidays all year round, so the level of interest from both British and French buyers has been considerable,” reports Richard Deans, one of MGM’s London-based UK sales consultants.

Pictured is Richard Deans, one of MGM’s London-based UK sales consultants, who describes Les Jardin’s d’Astoria as “a very rare opportunity to buy a new home in Chamonix which is a popular centre for holidays all year round.”

Designed in the classical Belle �poque style, the five-storey building – Les Jardins d’Astoria – will occupy the site of a disused garden, in Place Balmat in the centre of the town. It comprises ten two- and three-bedroom, two-bathroom apartments with floor areas ranging from 69 sq m to 90 sq m.

Many of the apartments in the south-west facing development have views in three directions from up to four balconies together adding as much as 15 sq m to floor areas. They include small private balconies outside bedrooms.

Chamonix, long-established as a tourist town with beautiful old buildings lining cobbled streets and squares, has a reputation as the home of mountain sports like off-piste skiing, paragliding, climbing, mountain biking and rafting. An 18-hole golf course at nearby Le Praz, five minutes away by car, offers players stunning mountain views.

“Easy access, with Geneva Airport only an hour away from Chamonix, means good letting potential and that is an important consideration for investors,” says Richard. He predicts that the apartments could command a peak week rental income of around €2,500 at the height of the ski season.

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The apartments at Les Jardin’s d’Astoria come with fully-fitted kitchens and bathrooms, fitted wardrobes in bedrooms, and pine finishes with tiled and parquet floors. MGM’s specification exceeds the regulation standards for acoustic and thermal insulation.

Secure basement storage space is available with each apartment and car parking is available at MGM’s nearby development Le Hameau de la Blaitiere, a five-minute walk away.

Prices of the properties available for outright purchase at Les Jardins d’Astoria start at €556,000 for a two-bedroom apartment. For more details call MGM’s UK office at Kingsland House, 122 - 124 Regent Street, London W1B 5SA on 0207 4940706, email rd@mgm-immobilier.fr or visit the website www.mgm-constructeur.com

Case study

Twickenham-based recruitment specialist Martin Smith (34) is among early off-plan buyers at Les Jardins d’Astoria. He paid €640,000 for a three-bedroom apartment which he funded with personal savings topped up by a French mortgage.

Martin was in no doubt that he wanted to buy a property in France having worked and skied there for many years.

He said: “I considered a few other locations, including Val d’Isere, but opted for Chamonix because, with Geneva Airport only an hour away, quick visits for a weekend’s skiing are so easy.”

He also likes the central location of the MGM development in Chamonix which he describes as “one of the French Alpine towns which is truly a year-round resort.”