A sun-drenched slice of the South of France, with a vineyard and golf course thrown in, sounds like an unattainable dream for all but the very rich — particularly in this economic climate. But one development company, Frere Group, is attempting to make this dream a reality through the transformation of the Domaine de Lavagnac, a former wine estate in Languedoc.

Property in France has proved to be a relatively safe investment for British buyers, despite the unfavourable exchange rate. BNP Parabis, the biggest lender to overseas buyers in France, predicts that UK househunters will make up 20 per cent of overseas purchasers this year.

Lifestyle buyers from Britain may well be drawn to Domaine de Lavagnac, a 192-hectare estate once dubbed the “Versailles of Languedoc”. The neglected 17th-century château is being converted into a five-star hotel. The wine stores will be converted into a spa and there will also be an 18-hole golf course designed by the Frere Group’s chairman Charles Cox, a former professional golfer, in partnership with Ray Hearn, a leading US golf architect.

There will also be a clubhouse, a central square with a supermarket, green grocer, bakery and tennis courts. Dotted around the estate will be 500 villas and apartments, which are available for sale, with prices ranging from €395,000 (£340,830) for a two-bedroom apartment up to €1.6 million for the largest properties.

Unusually, the villas and apartments will not be built in traditional style; the developer has opted for ultra-modern designs in accordance with the local planning commission which wanted to avoid pastiche.

The architect, Pascale Malet-Seeli, says: “This freed us to design houses that help you make the most of the way of life in the South — designs that invite the outside in.”

Instead of rambling stone houses, expect sleek, contemporary design, with plenty of glass, pale stone floors and all mod cons, including computer-controlled ovens and fridges. This is just the sort of new-build in short supply in the UK, as reported in Bricks & Mortar last week.

The company is offering incentives for its first 100 purchasers, notably membership of a 25-year leaseback scheme, which entitles the management company to rent out the property for six months every year and provides a tax break. The scheme guarantees a rental income of 7 per cent a year.

Buyers opting for a two-bedroom, ground floor “Syrah” apartment will pay €395,000 if they are members of the leaseback scheme, or €440,000 if they choose not to participate.

Domaine de Lavagnac: domaine delavagnac.com, 00 33 4 67 24 59 02

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