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Crazy old Motorbike in France!!

I'm staying in Antibes for a few days, and spotted this awesome old motorbike!!
For those of you know dont know about Antibes, its a pretty crazy place. Its an old French seaside town on the South Coast of France situated between Cannes and Nice. There are loads of traditional old buildings, and normal French shops with real life French people going about their daily lives, but what makes it crazy is that there is also a huge marina stuffed full of multi-million pound super-yachts owned by people with more money than most small countries! There is a real contrast between the locals the the super rich yacht owners,  so seeing an old motorbike like this really got me thinking about who rides it!!

Is someone really riding this as a daily commuter machine?? or is it a bit of fun for some super rich oil tycoon?? The lock securing it to the cycle rack looked in pretty good condition, so its not been there for long, which makes me think this really is someone's daily ride!!

What do you think?? any idea what make/model bike this is? how much power does the single cylinder engine perched above the front-wheel produce?? can he do front wheel burnouts??