The Moment of Trousse: A Château in Champagne
"La Résidence Belle Vue de la Château"
at La Château de la Trousse
(FOR SUBSCRIBERS ONLY)
July 3, 2008
Bonjour French Property Insider Subscriber,
Last week I had the distinctive pleasure of visiting "La Résidence Belle Vue de la Château" at the Château de la Trousse not far from EuroDisney in the region of Champagne. The residence is one of several which now comprise the centuries-old château, and is offered on the market today as a Fractional Ownership property, with only two shares of eight left for the taking.
It’s a heavenly oasis not far from Paris for an idyllic resort and spa home! Read about it in full in today’s FPI, and if you’re interested in learning more about how you can have your share, contact the owners or me before the remaining two or gone.
Today I bring you "’Viager’ with a View, Part IV" — the continuing story of the life annuity property I purchased one year ago whose rights of usage remain with the original owner, in spite of many efforts to acquire them. The story will only be complete when the rights are obtained, the apartment is renovated and offered as a vacation rental. Read today’s installment and then stay tuned for more to come.
Janet Hulstrand, Workshop Instructor of Writing from the Heart…a journey into the heart of France, and into your own heart…a writing workshop in Champagne, allowed us to publish a snippet and link to an article and photo she contributed to the Smithsonian Magazine about the region. Read her article to learn more about the region and to sign up for the workshop.
There’s lots in store for you from some of our associate publications and don’t miss the Hot Properties in the Bubbly region of Champagne!
Editor, French Property Insider
Email: [email protected]
P.S. Mark your calendar to join us at next Tuesday’s Parler Paris Après Midi 3 to 5 p.m. at La Pierre du Marais! Visit http://www.adrianleeds.com/parlerparis/apresmidi.html for more information
P.P.S. Register now for the…
Living and Investing in France Real Estate Conference in
San Francisco (An Alliance Française of San Francisco Special Event!), July 26-27, 2008. Please Note: Special Friends pricing ends July 14th! Register today and save $100 per couple! To learn more and reserve your place, click here: http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html
For more information, email [email protected]
Volume VI, Issue 27, July 3, 2008
* Sharing a Champagne Château
* Sparkling Champagne Region
* Viager with a View: The Saga Continues
* French Property Spending Power
* Good Time to Buy as French Property Prices Fall
* Changing Face of French Tourism
* Any Point in Paris is Just a Click Away…
* French Property Consultation on House Hunters International
* Design Your Own Fractional Property
* Upcoming Living and Investing in France Real Estate Conferences
* FPI Property Consultation, Search and Relocation Solutions
* Today’s Currency Update from Moneycorp
* Next Parler Paris Après-Midi: July 8, 2008
* Hot Property Picks: Champagne Châteaux
* Leasebacks: Jardins de la Marjolaine, France, Atlantic Coast, Bordeaux
* Managing Your FPI Subscription
* Classified Advertising: Parler Paris Apartments — Le Déco!
"La Residence Belle Vue du Château" at Le Château de la Trousse
By Adrian Leeds
A 37-minute ride from the Gare de l’Est takes you to the town of Meaux, a commune of the Seine-et-Marne, on the edge of the Ile-de-France quite near EuroDisney. From Meaux, the drive is another 30 kilometers to the little town of Cocherel, crossing over to the Champagne region where the Château la Trousse sits quite regally.
It is here where Imogen Bonnet and her husband, Leon Klibansky, own a luxurious three-bedroom, three-level home in a 17th-century "orangerie" on the 40-acre estate with beautiful views of the château, the traditional baroque gardens and all the ‘accoutrements’ of aristocratic life. The home is currently available in fractions of eight, with complete usage of the amenities on the grounds.
I visited the magnificently renovated and decorated home and the grounds of the château in its entirety before sitting down to a sumptuously ‘light’ lunch prepared by Imogen and Leon. For a city girl like me, these few hours alone in such a serene environment, released a week’s worth of stress. If there had been time, I would have gladly taken a sauna in the Canadian Red Cedar Spa or a steam bath among the bronze "Bisazza" mosaic tiles.
Learn more about "La Residence Belle Vue du Château" and how you can have one (or two) of the few remaining shares in this magnificent property:
History of the Château and Estate
THE 17th, 18th and 19th Centuries
The original Château plus the Orangerie and Cour d’ Honour were built between 1630 and 1640 by the family of Phillipe-August Le Hardy. The estate was owned and run by the Làle Hardy family until around the 1780s when the main Château went to ruin, whilst being dismantled and the building materials sold to help the family’s financial troubles.
In 1791 Charles-Guillaume Baudon de Mony bought the estate. The Baudon de Mony family built the current Château in 1864 and had a small church built into the west front quarter. At around the same time the front of the Cour d’ Honour (in which our house stands) was converted into a stable block and throughout the 19th century it was a thriving working estate.
THE 20th and 21st Centuries
In the 20th century the estate managed to change with the times converting other buildings in the Cour from Carriage and horse drawn equipment storage to automotive vehicle storage and workshops. All the estate buildings came through both world wars undamaged. The Château was occupied first by the Germans and then the Americans in the 2nd world war and there are pictures of exploded tanks on the driveway and in the surrounding fields.
The Château and estate belonged to the Baudon de Mony family until it was purchased in 1998 by the current Co-Ownership. The local villagers and Madame Baudon de Mony still visit on the first Sunday of every month for a church service.
(It may be possible to view the church during your stay but you will need to arrange this with the estate manager.)
Château La Trousse is not a holiday resort. It is a privately owned estate (owned jointly by 34 families) the majority of homes are used exclusively by the owners. The Owners have created a family friendly environment ideal to rest, relax and enjoy the peaceful atmosphere of the estate. Renters are made to feel welcome and in return we ask that you respect the aims of the ownership while you enjoy your holiday at the estate.
The Fractional Ownership property is a spacious light and charming villa with living room/dining room, open kitchen, three well-appointed bedrooms, two full bathrooms and powder room on three levels located right in front of the Château with itstraditional baroque gardens with beautiful views of the landscape, antique lion garden ornaments and castle. The home is part of the historical Orangerie building of 1600, one of many buildings on the 40-acre well-maintained private estate. It was professionally furnished and decorated in a fresh and contemporary style with French charm and original accents.
The salon has huge hand carved fireplace; designer kitchen with bar, microwave/oven and dishwasher; large flat screen TV; DVD player; WiFi high speed Internet connection; furnished in a contemporary style with touches of fine art and antiques. A terrace on the gardens is equipped with Jardin de Bagatelle furniture and another terrace in the wind-free cobblestoned court yard is equipped with plantage teak furniture. A barbeque, sunbrellas, tennis rackets and beach chairs, crisp white bed linens and soft large towels are all there for every owner’s convenience.
The luxurious bathrooms offer Jacuzzi with zen, toning or light programs, Canadian red cedar sauna, sound therapy, steam room and two large showers decorated with bronze "Bisazza" mosaic tiles.
On the Château estate owners may enjoy the large heated pool, a lovely walled kitchen garden of vegetables, fruits and roses. There is a tennis court on the grounds and various golf courses and riding schools nearby. Owners have privileged usage of the Château salon for relaxing, the castle kitchen (super for preparing al fresco meals or picnics in summer), a professional laundry and romantic chapel plus access to all the grounds which include an orchard, a pond and numerous idyllic paths.
Local shopping is done in the village three kilometers from the Chât
eau plus shoppi
ng malls and the TGV (Train à Grande Vitesse) you’ll find near Euro Disney.
For sale are two property shares for €120,000 each. Each deeded share offers 6.5 weeks of private use and every year wonderful holidays during low, mid and high season. All costs are shared equally among the villa proprietors. Currently monthly fees are €100. All taxes, electricity and association fees are included. Notary fees and closing costs are additional.
Location of the Château
Ile de France, district Seine et Marne (77)
NEAREST LARGE TOWNS – Meaux (to the SW), Château Thierry (to the NE)
NEAREST SMALL TOWNS – Lizy sur Ourcq and Mary sur Marne
NEAREST AIRPORT – Charles de Gaulle 40 minutes drive
NEAREST TRAIN STATION – Lizy sur Ourcq or Trilport
There are lots of places to walk or cycle to, though we would strongly recommend you have a car.
Château de la Trousse is rurally situated yet you can very easily get to:
• Paris – can be at Notre Dame in 45mins by train and Métro.
• Champagne region – 10 minutes drive.
• Champagne towns of Reims and Epernay – 30 minutes drive.
• Antique markets and Depot Ventes all over.
• Euro Disney – 20 minutes drive. (5 junctions along A4 motorway)
• Park Asterix – 45 minutes drive.
• Town with large supermarket, restaurants, and train station to Paris – 5 minutes drive.
• Golf, Seine et Marne has 14 golf courses.
• Marne River and Orquc canal – 5 minutes drive/15 mins walk
• Racecourse at Chantilly – 1 hour drive.
• 1st World War Memorials and battlefields at Château Tierry – 20 mins drive.
• Lake with sandy beach – 1 hour drive.
Snapshot: The Champagne Region
Article and Photo by Janet Hulstrand
For Smithsonian Magazine
An area famous for its bubbly wine offers natural and cultural riches
Origin: It took millions of years and a unique combination of climate, soil, and brilliant agricultural minds to create the right conditions for raising the variety and quality of grapes needed to make champagne. About seventy million years ago, oceans that once covered this region receded, leaving behind chalky subsoil deposits; sixty million years later, earthquakes pushed marine sediments to the surface. The unique soil created by these geological events is one of several factors that make champagne supreme among the world’s sparkling wines, with a reputation for unsurpassed excellence…
To read the entire article visit
Editor’s Note: Janet Hulstrand offers a special writing workshop:
Writing from the Heart…a journey into the heart of France, and into your own heart…October 21-27, 2008, held in the inspiring village of Essoyes, in the heart of Champagne country, two and a half hours southeast of Paris. “A wonderful week of writing, in a charming and welcoming French village.” For more information, visit http://adrianleeds.com/frenchproperty/conference/
"Viager" with a View, Part IV
Excerpt from Parler Paris…
Wednesday, July 2, 2008
By Adrian Leeds
The last time you read about "Le Saint-Tropez" was just after having purchased the tiny apartment in September 2007. For those of you who have followed the story of the "viager" with a view, you may likely want a quick reminder to get you up to speed and for those who haven’t, you may want to read Parts I, II and III by clicking on the following links:
Viager with a View..
Part I: http://www.adrianleeds.com/parlerparis/issues/pparis10-9-07.html
Part II: http://www.adrianleeds.com/parlerparis/issues/pparis17-9-07.html
Part III: http://www.adrianleeds.com/parlerparis/issues/pparis19-9-07.html
"Le Saint-Tropez" is the name affectionately given the studio apartment that sits on the 4th floor of my own rue de Saintonge 17th-century "hôtel particulier," with an elevator, fireplace and a 14 square meter terrace overlooking the street and the rooftops of Le Marais. It took two years to purchase having fallen into the hands of the state after a previous owner died and defaulted on back taxes. (This part alone is a long, complicated and fascinating story you can read in Part I!)
Even though it had changed hands twice, it remained a "viager" — a life annuity property with an 88 year-old man holding the r
ights of usage till his death. I took it on
knowing full well the trials and tribulations of what might ensue, as the cost was roughly half of what it’s worth on today’s market, but counting on either his willingness to relinquish his rights in exchange for an equitable sum of money or his death, whichever should come first.
Yes, its sadly the case with owners of viager properties, who are basically betting on the death of their inhabitants. Have you heard about the case of Jeanne Calment? She was the oldest living human, who lived to the age of 122 and outlived her Notaire, Andre-Francois Raffray, who purchased her apartment, promising to pay $500 per month until Jeanne died. He paid twice the market value for the apartment before dying himself in December of 1995. I am obviously hoping not to have the same bad luck!
In September, when the purchase was final, you may recall from Part III of the story that the "Syndic" (manager of the homeowner’s association), Monsieur de L. , had provided the contact information for Monsieur N., the elderly gentleman who holds the rights of usage. He actually now lives elsewhere — with relatives in another part of France, leaving the apartment for occasional usage by friends and family, but mostly it sits idle.
I promptly sent a registered letter to Monsieur N. in my best French, with the help of a French friend and Monsieur de L. requesting that he entertain the idea of relinquishing his rights of usage. Before long, a response came from him politely confirming that yes, he would be happy to consider a cash settlement.
I was thrilled! As quickly as possible, another letter went into the mail, registered of course (nothing is official in France unless the receipt of the document is signed for), offering what seemed like a fairly healthy sum of money, at least to start.
Time passed and no answer. Another letter was sent out. Time passed and again, no answer. The Notaire with whom we work closely tried phoning the nephew with whom he was living, and again, no response.
Thinking perhaps he had died and we had not been informed, the Notaire did a search to find a death certificate, but instead, only came up with a birth certificate. We now hold this document in our file, showing he was born on the 28th of September, 1919. We then agreed that perhaps a letter from the Notaire would look more official and would have a better chance of getting to him. And so he crafted a letter and off it went, registered, of course. Time passed and still, no answer.
We can only guess the reasons for no response. Mine is that the nephew will not reap the rewards of the cash settlement, but does enjoy using the apartment and therefore is stalling the ultimate relinquishment of the property, so perhaps Monsieur N. has never seen any of the letters while the nephew secretly hoards them.
Meanwhile, Monsieur de L. claims that as owner, I am responsible for laying a "caillebotis" (or duckboard — a slatted board) on the terrace to protect it. According to a General Assembly of the homeowner’s association in February of 2006, of which I was present, the owners of the apartments who have easement to the two terraces, both of which are NOT owned by apartment owners, but by the building itself, are responsible for maintaining them properly. If not, they risk being destroyed!
I recall the meeting like it was yesterday. It was before purchasing the apartment, but while I was dreaming of purchasing the apartment, yet of course, none of the neighbors knew it. (It was all very hush-hush until the final title was acquired.) I sat listening intently, perspiring from anxiety, praying they would not vote to destroy the beautiful outdoor spaces. The woman who owns the adjacent terrace was doing the same and actually pleaded, "I’ll do anything, pay anything…just don’t destroy my beautiful terrace!" And so they didn’t, but insisted on the owners to take a certain level of responsibility.
Okay fine. I agree. But remember, I have no keys to the apartment, no access, no rights to be in it! So, you tell me, how am I supposed to have workmen come lay a "caillebotis" on a terrace to which I have no rights? This argument continues to go in circles with Monsieur de L.
Yesterday I visited our Notaire, of which I have the utmost respect. It is very important to acquire the rights of usage, to satisfy the Syndic’s request and to turn the property into a profitable rental, rather than an expense and burden, particularly since Monsieur N. is not living there. His advice was to first, assess all the bills I’ve paid to the homeowner’s association as owner and charge Monsieur N. with "les charges locatives" — the expenses an owner can legally recuperate from the tenant, which are normally for such things as maintenance of the carpets, elevator, fireplace, etc.; utilities expenses; fees for a guardian or concierge; certain taxes, etc. And in this case, it could easily include the laying of the "caillebotis!"
We must serve Monsieur N. with this bill by using a "huissier," or bailiff, to remove any interference in reaching him. And we can offer him the relinquishment of his rights of usage in exchange for the payment. This will be a lot less expensive than the generous offer made in the beginning…but hey…I tried!
That will bring you up to date. This weekend, I’ll be scouring through all the documents to come up with the assessment to provide to the Notaire, so stay tuned for Part V, when perhaps, mission will be accomplished!
"Les Charges Locatives"
In the case of apartments in shared buildings, the tenant is expected to pay monthly fees (charges locatives) for collective amenities. Arranged for by the landlord, these typically include:
* Water, gas and electricity
* Central heating
* Lighting in public areas
* Some building or apartment maintenance
* Habitation taxes
* Part of the salary of a guardian or concierge
Economy: Confidence Plummets as Europe Catches America’s Cold
By Alasdair Sandford, Kate Connolly, Tom Kington, Graham Keeley and Henry McDonald
The Guardian http://www.guardian.co.uk
Much of Europe thought it had escaped the worst of the credit crunch but the effects are only beginning to be felt
The French pride themselves on having been spared the excesses seen in the US and elsewhere in the sub-prime crisis. "In France there is no credit crunch," the head of BNP Paribas, Baudouin Prot, said recently, using its English name as if to emphasize its Anglo-Saxon origin.
He praised the responsible behavior of French banks within a tightly regulated system but acknowledged there had been an impact due to the rise in the cost of borrowing, slower growth and a fall in demand among borrowers.
The housing market has been hit hard. Sales of new properties have fallen by 28%, according to government figures. France Info, a national radio station, recently devoted a day to the property crisis, featuring estate agencies forced to close because of the collapse in business. The Institut National de la Statistique et des Etudes Economiques (INSEE) said this month that tight credit had contributed to a plunge in new construction work, which in turn had begun to undermine growth. However, unemployment is 7.2% – the lowest for 25 years – and a further drop to 7.1% is forecast by the end of the year.
"Le pouvoir d’achat" – spending power, or rather the lack of it – has long been a French preoccupation. President Sarkozy’s failure to make headway, having vowed to do so, is one reason why his popularity has fallen. INSEE’s latest survey of household confidence suggests that it is at its lowest level since records began 20 years ago.
The government has fought back with an ad campaign on TV and the internet that heralds measures it claims are putting more money in people’s pockets. Happy French families are shown building houses and shopping thanks to tax breaks. "Month after month, we’ll win the battle of purchasing power," is the slogan. INSEE may have something to say about that….
To read the entire article visit http://www.guardian.co.uk/business/2008/jul/01/globaleconomy.creditcrunch
France’s Housing Hiccups
By Douglas Herbert
If you’re in the market for a swish French mansion to call your own you can do a lot worse than the 19-bedroom, 21-bathroom abode with panelled interiors and chandeliers perched on a hilltop overlooking Monaco on the Côte d’Azur.
At a list price of $65 million, it is (or was, as of last year) France’s most expensive home, according to Forbes.com.
To misquote Tolstoy, all super-expensive properties are the same. But all inexpensive – or depreciating – properties are inexpensive in their own way.
Just consider the latest findings from France’s national statistics agency, INSEE. They show existing home prices across France easing – or stagnating – in the first quarter, as home sales took a dramatic fall.
The figures have more than anecdotal value since they suggest that France is vulnerable to the same housing hiccups evident in European neighbors such as Britain, Spain and Ireland.
Those countries hitched their economic fortunes to a housing boom that has turned bust and are now paying a heavy price – far heavier than anything seen so far in France.
France never really bought into the US-style property frenzy with the same zeal as Britain. The French have generally shunned variable-rate mortgages, with their element of unpredictability, and home-lending practices have toed a more conventional line.
Nonetheless, a tide may be turning in France, where existing home prices fell 0.8% in the first quarter of this year – after rising just under half a percent in the previous quarter. In Paris itself, prices were still up 1.1% in the first three months, but that marked a slowdown from the 2% increase in the year-earlier period. And elsewhere in the Greater Paris region known as Ile de France, home prices declined, falling 1% in the Val d’Oise, north of the capital.
But the real shock stats are to be seen in housing sales. Year-on-year sales of all homes plummeted some 17% in May in France. In Ile de France, sales tumbled some 21%.
Property agents and analysts here, echoing their counterparts in other stricken countries, blame the trend on higher borrowing costs and a generally sour mood among consumers trying to cope with soaring food and oil prices. Some say that high petrol prices make more people reluctant to buy property too far from cities….
One leading French real estate agency has predicted that home prices could swoon by as much as 15% over two years….
To read the entire article visit http://www.france24.com/en
New Resorts Threaten Tourism in France
France is the number one tourist destination of the world, according to current figures released by the French Tourism Ministry, which show that approximately 82 million foreign tourists visited France in the year 2007. The number of foreign visitors is up 4% on 2006, however if compared to the number of French tourists visiting in earlier years, there has a major drop, decreasing from 11.9% to 9.1% from 1990 to 2008, and is a matter of concern for the French tourism, who believe new resorts springing up in emerging markets are largely to blame for France’s tourism decline.
According to French tourism official Mr. Herve Novelli, the development of new resorts in Dubai, Croatia, Morocco and Tunisia has created some tough competition for the French tourism industry. They are not only competing with new and high tech visitor attractions in the case of Dubai’s forthcoming Dubailand but the exotic nature of locations such as Morocco and Tunisia. The increasing numbers of foreign visitors to these destinations has pressed the alarm button of French tourism officials, and is a wake-up call to start planning tourism campaigns and marketing strategies to counter the drop in the amount of visitors to France and ensure France retains its number one title as the world’s top tourism destination.
Novelli, revealed the French Tourism Ministry is looking at a variety of solutions to counter the drop in the foreign tourists by attracting new foreign visitors. As part of this process, last week, the Ministry initiated a drive to encourage tourists from the emerging economies of India, China, Russia, Brazil and Mexico to discover the wonders a la belle France.
As these economies become wealthier, increased travel is one of the first side effects of a wealthier society and France clearly understands the benefits in attraction these tourists to its country. The threat of new resorts is already having an impact on the more established overseas property markets with holiday home buyers and real estate investors opting for emerging markets which offer better value for money or a more exotic holiday environment.
As an added incentive Mr. Novelli also said, that the intention is to allow more low cost airlines to operate new routes to numerous destinations in France in the hope that tourists will respond to the cheap flights on offer enabling them to sample more of the destinations on offer throughout France. The advent of new low cost flight should prove beneficial to French property owners who may benefit from increased tourism bookings of French holiday properties and cheaper access to their holiday home in France.
Paris Mapped.com is a fully-searchable, interactive street map of Paris. Their comprehensive database contains locations of streets, stations and other places of interest throughout Paris and allows you to find what you’re looking for quickly and easily.
To use the map simply type the name of the location you are looking for in the search box, or click on one of the links above. If multiple locations are shown on the map, click on the appropriate pointer and the map will zoom in on that point.
You can use the + and – icons to the top left of the map to zoom in and out, and move the map with the arrow icons or by simply dragging the map with your mouse.
See French Property Consultation on House Hunters International!
"Settling Down in Paris"
Angela and Ben met in 2003 when they lived in Los Angeles working for the same clothing company. Now, the two are engaged to be married. When Ben started receiving frequent overseas work, the company believed he’d be more valuable in Paris, so they happily relocated. They immediately moved into a cozy rental in the 17th district near the Arc de Triomphe and started to explore the different neighborhoods of Paris. The pair is now ready to take the big leap and purchase an apartment to stay for good. Property consultant Adrian Leeds is enlisted to help.
• July 16, 2008 10:30 PM ET/PT
• July 17, 2008 2:30 AM ET/PT
Design Your Own Fractional Ownership Property
With "French Property Fractional"
by Adrian Leeds
Fractional ownership may be a hot concept!…but we’re making it even hotter!
A new division of the Adrian Leeds Group, LLC, "French Property Fractional" is the newest and hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself.
What’s Fractional Ownership?
A hybrid of direct ownership and time sharing, it combines the best elements of both. The primary differences are that while timeshares i
shares in a large complex with “resort” amenities and costs built specifically for that purpose, fractional ownership is joint ownership by only a few individuals in a single property whose value can easily be determined on the open market.
Most Paris fractional property opportunities are properties that have been purchased, renovated and decorated by one developer who then sells off the shares. Most of these offerings sell six to twelve shares to minimize the investment amount while maximizing the size, location and quality of the apartment.
What’s new about "designing your own" property?
While this system works well for many investors, we found that there are large numbers of individuals who would like to combine the benefits of traditional fractional ownership with single-party ownership, enjoying more time to personally use the property, having more decision-making power about the property, more input and more control. We believe that YOU want to feel like the property is really YOURS — and it is!! So, why not have a more personal relationship with the property.
Here’s how French Property Fractional works:
FIRST, WE OFFER A "CONCEPT"
Our team is offering a property CONCEPT…to search and find the following property to be shared between only a very small group of owners — four to six:
"MY PIED-A-TERRE IN LE MARAIS"
SIZE: 35 to 45 square meters (377 to 485 square feet)
ROOMS: two rooms — one bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen
LOCATION: Le Marais, districts 3 or 4
LEVEL: No higher than 3rd floor (European) without an elevator
BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)
AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts
COST: 4 shares, 135,000€ each, 3 months of usage per year
5 shares, 108,000€ each, 10 weeks + 2 days of usage per year
6 shares, 90,000€ each, 2 months of usage per year
USAGE: Owners determine their own usage calendar and have
complete flexibility to arrange their calendar among themselves
* Full price of the property including agency fees.
* All notarial and legal fees.
* Property search and consultation fees.
* Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.
EVERYONE MUST AGREE:
Members of the purchase pool must be willing to invest the full amount of at least one of six, one of five or one of four shares to be held in an escrow account to fund the property search, purchase and renovation.
The search will commence upon commitment in writing and receipt of funds from all members of the purchase pool with an agreed upon allowance for a minimum of 90 days to locate the property.
Upon location of a property that fits the above parameters, a memo with photos and description of the property will be sent to all members who may decide at that time to approve or decline the property in a timely manner — within 48 hours of receipt of the memo. Any group which is able to approve the found property with a combined total of 540,000€ will enable the purchase process to proceed.
Members of the purchase pool will provide proxy to the Adrian Leeds Group, LLC to sign notarial documents on their behalf: the Promesse de Vente and Acte de Vente — allow 3 to 4 months to completion.
Three decor concepts that fit within the renovation budget will be presented to the purchase pool for voting and will be executed by the interior architect and construction team. Any choices made by the purchase pool outside the framework of the budget will be charged over and above the initial fees. Allow 2 to 3 months to completion.
Members of the purchase pool will appoint one spokesperson for the purchase pool to make day-to-day decisions and act as a "liaison" between all members of the purchase pool.
NOTE: The Adrian Leeds Group, LLC will offer optional property management services upon completion of the sale and renovation at an additional expense to oversee the maintenance of the property, provide housekeeping between owners’ visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.
If you are interested in participating in a purchase pool for "MY PIED-A-TERRE IN LE MARAIS," email Adrian Leeds at [email protected]
Fractional Property Offerings
If you are interested in traditional fractional ownership properties currently offered by our Fractional Ownership partners, see below:
|Paris: CHEZ LA TOUR
|Languedoc-Roussillon: MAISON BLEUE
|Meaux: CHÂTEAU LIVING FRANCE
|Nice: ON THE COURS SALEYA
For more details and pricing information, contact [email protected]
|Paris: LE PETIT TRESOR
Adrian Leeds, of Parler Paris and French Property Insider and John Howell, The International Law Partnership, Present the…
Living and Investing
in France Real Estate Conference
Upcoming Conferences in 2008:
Living and Investing in France Real Estate Conference
Date: July 26-27, 2008
Location: An Alliance Française of San Francisco Special Event!
Don’t miss our 22nd Living and Investing in France Real Estate Conference! Learn how to live and invest in France…profitably.
* Special Note: Special Friends pricing ends July 14th!
Single Person Seminar $427, Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends Save $50, You Pay Only $377
Second Person $327 (Add Your Spouse, Partner or Friend), Parler Paris Subscribers, French Property Insider Subscribers, Clients of International Law Partnership and Special Friends, Save $50, Second Person Pays Only $277
To learn more and reserve your place, click here: http://www.adrianleeds.com/frenchproperty/conference/LIF_SF_2008/index.html
For more information, email [email protected]
Living and Investing in France Real Estate Conference
Date: October 11-12, 2008
Location: Paris Chez Jenny
Times: To Be Announced
Registration Fee: To Be Announced
For more information, email [email protected]
TODAY’S CURRENCY UPDATE
Visit the FPI Web site and click on the link on the left panel or click here for Currency Convertor by Moneycorp Global Money Services: http://www.adrianleeds.com/frenchproperty/insider/moneycorpconvertor.html
for up to the minute conversions of all major currencies.
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Parler Paris Après Midi
Come for a drink
and to meet and chat with other readers in Paris…
The next gathering is July 8, 2008, and every second Tuesday of the month.
HOT PROPERTY PICKS: Champagne Châteaux
Each week French Property Insider features a range of properties which we believe are on the market at the time of writing. These properties are featured in order to give readers a sample of what is currently available and a working example of prices being asked in various regions of France and districts of Paris.
As we are not a real estate agency. These properties do not constitute a sales listing. For those readers seriously interested in finding property in Paris or France, you can retain our services to do the whole thing for you. For more information, visit http://www.adrianleeds.com/frenchproperty/consultation
***Champagne, Château, 10 rooms, approx. 300m²
An hour and 15 minutes from Paris and 10 minutes to the train station. The heart of the château is in 6.8 ha of land, where you’ll discover the fully restored windmill. Entry with veranda, fully equipped kitchen, dining room, 5 bedrooms, master suite, games room, 3 bathrooms and toilets. Included in the magnificent park are stables, water and a waterfall.
Asking Price: 795,000€ + 2.5% Finder’s Fee
***Champagne, 18th century Château, 16 rooms, approx. 900m²
Remarkable property. This château sits on 33 ha of land with woods. The main building opens onto a courtyard. Large reception room on the main floor with wood floors, point de Hongrie and beautiful fireplaces. Includes 16 rooms on two floors and four servants rooms. Many architectural features with lots of character.
Asking Price: 1,300,000€ + 2.5% Finder’s Fee
***Champagne, Château, 40 rooms, approx. 1,500m²
A beautiful château in the heart of a 5 ha wooded park. Entirely restored with many luxurious and refined features. 40 rooms on three levels.
Asking Price: 2,300,000€ + 2.5% Finder’s Fee
LEASEBACK NEWS FROM IMOINVEST
JARDINS DE LA MARJOLAINE
France, Atlantic Coast, Bordeaux
Two Bedrooms 67m² to 74m² €217,000 to €235,000
Three Bedrooms 85m² to 106m² €282,000 to €360,000
Four Bedrooms or More 128m² to 131m² €445,000 to €445,000
EXPECTED RENTAL INCOME UP TO: 4.00%
Beautiful port city in the southwest of France and the capital of the Aquitaine region, the Bordeaux region offers a wealth of activities, from colorful gardens, medieval museums, casinos, beaches and golf courses to music festivals and riverboat excursions. Boasting an ideal climate moderated by the Gulf Stream, tempered by the Atlantic Ocean, with the tallest sand dunes in Europe and the forest of the Landes providing a natural wind barrier protecting the vineyards.
In the heart of Bordeaux centre ideally located close to historic sites and a short distance from shopping streets, Residence Jardins de la Marjolaine is a new build development offering complete harmony between urbanity and nature. The property site offers a unique placement, on the corner of a residential street with an interior park, privatized and protected for residents only. Comprising 200 apartments, including lofts, duplexes and rooftop penthouses, this project is expected to be Bordeaux’s most luxurious addition for 2008! Each apartment will benefit from a private balcony, terrace, loggia or private garden.
Investors have the option of purchasing an apartment as a principal residence or as a Buy-to-Let purchase with the intention of earning an insured rental income. Most French real estate professionals agree that France will need 1 million new homes by 2030! In addition, the 2006-2007 year witnessed average sale prices for apartments per square metre in Bordeaux rise from 1997 euros per sqm to 2191 euros per sqm.
is a stable country with a legal system that ensures real estate investors’ rights are very well protected. Interest rates are also attractive, currently around 4%, and financing is available for those who qualify up to 80% of the purchase price.
SEEKING A MORTGAGE IN FRANCE?
When you make a purchase as important as a piece of real estate in a foreign country, you want to know that you can trust the people you are dealing with. Adrian Leeds has developed a network of professionals that meet only the highest of standards. With the expertise and experience of Adrian and her team, you can depend on getting the best advice and support to feel completely confident that you are making an informed investment decision.
Managing Your French Property Insider Subscription is Easy!
We receive many emails from French Property Insider Subscribers who want to change their email address, or update personal information. But did you know that you can make these changes yourself?
2. Click on "Manage Subscription." You’ll find it under the "Subscribers Only" section in the sidebar.
3. Enter your username and password.
4. On the Welcome Page, go to "Manage Your Account" and click on "Change Password/Edit Profile"
5. Once you’ve made the changes, scroll down to the bottom of the page and click on "Save Profile."
Of course, we’re always happy to help, so if you do need assistance, send an email to [email protected]
We wanted better guides.
So we wrote them.
Insider Paris Guides are written for people who love the City of Light. You’ll get a Paris insider perspective on Restaurants… Making a Life… Black Culture… Expat Writers…and the newest guide, Practical Paris!
French Property Insider subscribers receive a discount of 10% off any guide and up to 25% off the entire purchase (if two or more guides are purchased at the same time). Here’s how it works:
1. Click on special Web link we give you just for FPI subscribers.
2. Then order one or more guide(s) and use the promotion
code "ED762." This promotion code gives you 10% off your total
3. If you order two or more guides, then an additional 15% will be
taken off automatically. There is no promotion code needed.
Here is the special "coupon" Web link just for you:
THINGS YOU NEED TO KNOW
To access password protected pages: click on any of the links on the left panel of the home page of FrenchPropertyInsider.com under "Subscriber’s Only," then type in your personal username and password.
Past issues of FPI are available on the website. You will find the
"Past Issues" link on the left under "Subscribers Only" or by going to
To receive your free French Leaseback Report or the Paris Property
Report, click on
HELPFUL CONVERSIONS FOR REAL ESTATE
1 square meter = 10.7639104 square feet
1 hectare = 2.4710538 acres
For more conversions, refer to: http://www.onlineconversion.com/
Welcome to your home in Paris. Home is how you will feel in a private apartment in Paris that has the "seal of approval" from Parler Paris Apartments and me, Adrian Leeds.
Parler Paris Apartments offers high quality accommodations to make your stay in the City of Light as enjoyable and memorable as possible. We at Parler Paris know each and every apartment owner or manager personally, and stand behind the quality of those we represent. We understand your needs and desires, all the small details that make a rental apartment a warm and welcoming home – and a much better alternative to an impersonal hotel!
Parler Paris Apartments is administered and serviced by the same great team as Parler Paris, French Property Insider and French Property Consultation. You can trust that Parler Paris Apartments and all those with whom it is associated will do their best for your 100% guaranteed satisfaction.
One-Bedroom, Sleeps up to 4
From the quiet, residential rue Saint-Sébastien, walk up a mere dozen steps into this beautiful, newly renovated one-bedroom apartment. No effort has been spared to create a sophisticated, comfortable environment that provides you with all the modern conveniences, and the opportunity to experience romantic Paris to the fullest, whether as first time tourists, or as seasoned visitors who prefer to live like Parisians. Le Déco’s stylish interior combines contemporary design with Art Deco flourishes, while retaining elements of its 19th-century French heritage in its original wood beamed ceiling and marble fireplace. Its three large French windows with wrought iron railings provide a pleasant view of the rue Saint-Sébastien neighborhood.
Reserve now! Visit http://www.adrianleeds.com/parlerparis/apartments/rentals/deco.html
or email: [email protected]
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Copyright 2010, Adrian Leeds®
Adrian Leeds Group, LLC, http://www.adrianleeds.com