Leaseback is a complex subject. I have worked in the business for 4 years and probably know more about it than anyone in the non French market. I have learned about it the hard way. We have an open forum (the most popular leaseback forum in the world) so our company and the leaseback concept can be discussed openly. I have learned so much from having to answer many comlex questions from both my clients and forum users (the vast majority of whom are not my clients).

There are many points discussed in this thread - too many to address here. But I will try to address some of them:

If you sell a leaseback as a leaseback (i.e. within the lease) then you will make little or no growth. To make growth you must refuse renewal of the lease (subject to French law) and sell it as a normal property. In addition you must pay a fair price (I have seem some which ask twice the current market price), the property must be a reasonable size or comparable to other "normal" properties in the location - this is particularly relevant to leasebacks as they tend to be smaller than normal properties, but you get some which are more suitable than others like ski leasebacks which are often the same size as normal properties as space is resticted in ski resorts. You cannot "break" a lease. You can only "get out" mid lease if the management company breaks its contract as detailed in the lease agreement or in French law. Many leasebacks are bad investments for the non French market if you want to make growth like retirement homes, student residences etc. There is much, much more - too much to write here.

Seamus McConville