These are valid points however like everything it's all about the location at the end of the day. A front line beach leaseback like kaufman and braud are building in the south of France or 10 year old leaseback studios right next to 5 univesities will always produce interest from potential buyers. The leaseback system is 20 years old in France and has a proven track record. Just like any property there are the good and the bad ones. it all boils down to looking for key factors at the end of the day.