Fractional Ownership: What is it and Who is it For?
Now’s your chance to listen to Part I of my interview on Paris Underground Radio/Paris Estate of Mind with co-hosts Gail Boisclair and Marie Pistinier, who talk about “the good, the bad, the ins, the outs of property rentals and purchases in and around Paris.”
The topic: Fractional Ownership: Part 1 – What is it and who is it for?
Have a listen to Part I and stay tuned for Part II next week.
For those of you interested in Fractional Ownership, we have one property with only a few shares left and two others in the works:
LA BELLE TERRASSE
I was just in Villefranche-sur-Mer last week, putting on some finishing touches at La Belle Terrasse. We’ve added a second TV, bookshelves, a printer/scanner/copier, carpets in key places, ottomans and a host of other things that make the property homey, comfortable and functional. We discover what is missing during the initial process of usage, so the first owners can be very instrumental in pointing out the little details that need fine-tuning. Our goal is to create as perfect an environment as we can.
These shares will not be on the market for long, so don’t hesitate to let us know of your interest. Email us today.
LE PALAIS DU SOLEIL
“Le Palais du Soleil” in Nice is in the works, but the shares haven’t gone on sale yet. The reason for that is because we don’t have simulated photos done of the proposed floor plan and decor. There is no website page for it yet, either, so those of you interested must let us know to be put on a special mailing list. The moment the shares go on sale, those who are on the list will have first crack at them. The shares will be priced like we do with all of them—the first four at the lowest price, the next five at the average price and the last four at the highest price. So, the sooner you contact us, the better chance you have of scoring a good price.
This property is located at 13 rue Massenet in the heart of the Carré d’Or district of Nice on the second floor with an elevator. It has two balconies—one overlooking rue de France and the other overlooking rue Massenet (both pedestrian streets) with a view of the sea from that balcony. The floor plan has been completed to include two bedrooms, two bathrooms (one with shower, the other with a tub) and one toilet, with an open plan living room/dining room/kitchen.
It will be completely renovated and decorated by Martine di Mattéo in Provençal style and colors for ultimate luxury, including air conditioning, stackable washer and dryer, and fully equipped kitchen. We are cutting no corners and sparing no expense—in fact, we’re hoping to work with mosaic artist Véronique Husson to work her magic in the bathrooms and kitchen with hand laid tile that will turn this property into and absolute jewel.
We are planning for the shares to become available for usage October 1st of 2022. Originally we had hoped for July 1st, but that’s too optimistic, given the amount of work it requires (it hasn’t even been lived in for 30 years!), the delays we’re experiencing with supplies, and the summer months when nothing can get done! We don’t have an exact price range yet for the shares, but we are planning to meet your expectations for under 100,000€ a share. Don’t waste a moment in getting your name on the mailing list, it’s already formidable. The moment we announce the shares, I suspect they will be gone within a few hours. Email us now.
LE CIEL CHARLES V
Another property we have not announced until this minute is “Le Ciel Charles V.” This is large studio in Le Marais in Paris at 7 rue Charles V. It was once an Hôtel Particulier inhabited by the Count of Canclaux, general in chief of the republican army of the West, then peer of France under Louis XVIII.
We will recreate it into a one bedroom, with one bath (shower). It’s on a high floor with an elevator in this very old and historic building, with exposed beams, lots of windows and light and lovely views. It will get a face-lift by Martine di Mattéo. To create the bedroom without losing the light and visual space, we are enclosing the space with atelier style walls that provide the privacy a bedroom needs and deserves. The current owners will maintain their own shares, so there won’t be quite as many shares available for sale, a reason to get your request in now!
We’re hoping to have the property ready for July 1st usage, but we won’t know for sure until we get deep into the renovation project. The prices aren’t set yet, either, but right now, it looks as if we’ll be able to offer the shares for under 80,000€. All this will soon be solidified once we have the simulations done of the decor, floor plan, etc. But, you know you can trust us to get it right! And the location on rue Charles V just steps from the Seine is elegant and heavenly.
A la prochaine…
The Adrian Leeds Group®
P.S. Considering a property purchase in France? Don’t do it lightly. Let us help you make the smartest decisions to ensure you make the best investment you can. We can also expertly advise you how best to create a profitable rental. Contact us to learn more.