FrenchLeaseback: The first 40 of 171 apartments in a sale and leaseback development at St Raphael, between St Tropez and Cannes on the Côte d'Azur, will be launched this weekend in Jury's Hotel, Ballsbridge, Dublin 4, by Prunty's Overseas Properties.

Prices for studios to three-roomed duplex units in the Residence les Mimosas start at €130,000 up to €300,000. Buyers are guaranteed rental income of 4.5 per cent for 11 years. A former holiday resort, Mimosas will now be run by Odalys, a major French supplier of tourist accommodation. There will be a swimming pool, tennis court and children's village on the site, due to be ready by summer 2007. Investors who want a holiday can get a 4 per cent annual rental income plus two weeks' free holiday in any of Odalys's resorts. Prunty's Overseas Properties, an agent based in Harold's Cross, Dublin 6, has sold leaseback develolpments all over France for the past two years.

www.pruntys.com; 01 4983733