Domaine Val des Costes, St. Laurent d’Eze, Côte d’Azur

The company acquired 20,000m² of land as a prime residential site in December 2003, with the benefit of planning consent to develop 17 luxury villas / apartments Standing within majestic landscaped grounds, with unobstructed panoramic sea views, Domaine Val des Costes is set to become a landmark on the French Riviera, synonymous with luxury and a quality lifestyle.

There are 9 villas and 8 apartments.

The villas range from 228m² to 296m², each with approximately 150m² of terraces and standing in individual grounds from 930m² to 2,986m². Each villa has 4 bedroom suites with marble / ceramic bathrooms, separate cloakroom, fitted wardrobes, stone or parquet flooring, dual heating and air conditioning systems, a fully fitted kitchen with granite work surfaces and high quality appliances, double-glazing throughout, private sun terrace, a private swimming pool, double garage and ample storage space.

The apartments are each of approximately 110m² gross internal living space. Each apartment has two bedroom suites with marble / ceramic bathrooms, cloakroom, fitted wardrobes, stone or parquet flooring, lift, dual heating and air conditioning systems, fully fitted kitchens, high quality appliances, granite work surfaces, double glazing throughout, private terraces of 40m² to 70m² each and a communal swimming pool. Sixteen secure covered car parking spaces are also available, together with individual storage rooms.

Located in a preserved and unspoilt area between the Moyenne and Basse Corniches, Domaine Val des Costes is ideally situated within easy reach of the main attractions of the Riviera.

The Domaine enjoys uniformed 24-hour security, with sophisticated perimeter CCTV, connected to a main security gatehouse.

Prices range from €750,000 for apartments, up to €2,500,000 for villas. Construction is scheduled for completion by the end of 2006.

The development cost is in the order of €20 million.

Finance

Provided by Investec Bank (UK) Ltd.

Longford Securities and Equities has also aquired a further 10,000m² of adjoining land and is currently investigating residential development on this particular site.