'Mama Shelter' goes Bourgeois and Bohemian in Paris

Mama Shelter is set to revolutionise the French Leaseback tourism industry. Roland Castro the famous Parisian architect is responsible for the conception as well as the on site 4200 sq metre media centre; French designer Philippe Starck is heading the interior design. The owner of the project is Serge Trigano, ex president of Club Med, who will also be managing the residence via his company Mama Shelter management. With such a professional line up, this is a major force coming to Paris!

Mama Shelter is the first project to pursue the appealing strategy of developing unique properties at affordable prices in Europe and Mama Shelter in Paris is to be the flagship urban residence with seven more to come!

Mama Shelter is bringing to the market place, affordable and sexy city hotel/tourism residences for business and leisure travellers. It is the true urban experience which combines ultra modern design with the management know how of Town and Shelter for the perfect combination of entertainment and service.

“There will be an exclusive launch party for Mama Shelter in September when an announcement will be made as to the location of the other 7 residences”, says Kate Pernacchio, Marketing Director at Imoinvest International. “We are very excited at being able to offer to the public such exciting, sexy and ultimately superior properties with excellent return potential. This is a new concept inspired by the “boutique hotel” or ‘urban hotel movement’ phenomena, which is proving so popular to the discerning traveller. They offer ‘home away from home’ ambiance with modern elegance, and in fact this boutique concept was showcased with great success at New York’s Royalton, the first property designed by Philippe Starck who is heading the interior design at Mama Shelter”.

So, what does the flagship offer the investor?
The development comprises 172 rooms with daredevil design and is scheduled to open in Sept 2008. All amenities are provided to ensure the best services that the Leaseback Scheme can offer. In addition there will be a lounge bar and restaurant.
19.6% VAT tax refund.
Guaranteed rental income up to 4.20%
30% discount off the public rate for personal stays which will result in accommodation for around 70 euros a night when one would struggle in Paris to secure anything under 100 euros per night.
Apartments will be sold furnished with original objects signed by Philippe Starck (itself an investment)
Parking for a number of units.
Benefit of being part of a chain of 7, by 2012, all of which will receive global promotion.
Legally binding commercial lease guaranteeing rental income.
Favourable borrowing terms and low interest rates give Paris excellent investment potential.
20 mins from Roissy Charles de Gaulle Airport
Close to Villepinte, Paris’ largest exhibition centre.

Added Kate Pernacchio, Marketing Director at IMOINVEST International “These are stylish, affordable, utterly cool, residences which mark the diversity of a city as beautiful and chic as Paris. Investors will be buying into an urban adventure with tremendous possibilities for capital growth as Paris property prices increase on average around 10/15% and in the last five years have seen a dramatic rise of 60%.

This truly amazing property in Paris’s 20th district, which I like to call “bobo” a French expression that is short for bourgeois and bohemian; two social castes in perfect synergy.

Anyone who knows Paris will appreciate that this arrondissement has a reputation as being rather neglected in recent years but one has only to look at say, Notting Hill Gate in London or New York City’s East 125th street in Harlem to know the changes that can occur with the right approach.

The 20th district is well placed for transport links and has prices less daunting than in nearby neighbourhoods. There is a plethora of Parisian cafes, attractive small shops and quaint cobbled streets and the area is rapidly growing as it appeals more and more to the young, upwardly mobile who appreciate its trendy style, realistic property prices and closeness to the city centre.

Concluded Kate Pernacchio, Marketing Director at IMOINVEST International “French Leaseback is the most advantageous investment scheme for non- residents who are looking for a Buy to Let property. With recovery of VAT tax, commercial lease contract and guaranteed rental income this investment scheme rolls everything up in one with rental income, managing agent and tenant management all included at no extra charge.

A result of the US credit crunch is an upsurge in interest in the Paris property market. In particular, those in the UK looking for overseas property investments are increasingly turning to locations with less fraught money climates.”

Prices range from 171,000 euros to 263,000 euros (Approx £134,901/£207,479)

For more information, visit imoinvest.com.