PL25 – 7th June 2003.

Posted by admin in Property Letters | June 7th 2003

Dear All,

Having created a Yahoo group for my mailing list with Lao’s help, partly for increased confidentiality and partly to save me time, I have lost some of the ability I had to exclude or add names at will for individual communications. So please bear with me, and if you are simply not interested in investing in apartments just now, but want to get my more ‘general interest’ property letters, just bin the attachment to this one. Apologies.

Vicky is back in Cape Town – arrived this morning – and I go back in two weeks. We will be back here again later in the summer on dates yet to be decided. Lao and Katherine will be here throughout. This is home to them now, and they are settling very happily with a lovely rented home and a little dog called Jerry. Their French is improving all the time, and our structure is taking a very natural course, with Me concentrating on finding and acquiring apartments, Katherine renovating and furnishing and decorating, Lao marketing, and looking after the website and apartments once they are ready, and Vicky keeping the accounting functions under control. And we all overlap as required.

There are three apartments worth your considering I think. Please have a look at the descriptions of them on the attachment, and let me know if you need more information on any of them. One of them has photos posted on a website Lao has created for the purpose, and it’s a tool we will use increasingly as we get more familiar with the technology, and get more organised. The website address is on the attachment under the description of the apartment. Sorry we have not done photos of all of them yet – but the beauty of the custom made website is that you can go in out of choice, and don’t have to put up with long downloads, and of course we have the facility to give you access to far more photos than we could ever put on an e-mail attachment. The problem – there’s always a downside – it takes Lao quite a time to format the photos for the website and to set it up for your easy viewing (5 or 6 minutes a photo, or an hour for a 10 photo site), and that’s the one commodity we seem always to be short of!
All figures are in Euros.

Kind regards to all, and please stay in touch,

Guy.

Residence Olympe: Asking Price – 60 000

You don’t buy property in Palm Beach for this price anymore. I am the first to see it, and was with the agent when she first saw it – and that was this morning.

It is a little studio apartment of 18 sq.m. but has a very nice and spacious balcony. Although the building is on the corner of Ave Lerins, this apartment is tucked away overlooking the quietest little side road called Ave de Golf Juan for those of you with a map.

It is on the first floor and has a sea view down the very attractive and understated street to the East, and of the street leading to the Stade des Hesperides (where the single big event each year is about to take place next week, the Longines International Horse Jumping) to the west. Across the road is a single nice block of flats but mostly just small and attractive little French houses with lots of oleander, bougainvillea and little gardens.

The apartment itself is very nice! It doesn’t need a thing done to it. It is certainly small, but clean and cared for. It has very good floors, the paint throughout is immaculate, the little bathroom is very new and cute in light blues and white, and the tiny kitchen only has a small cupboard at eye level, and below it a two plate hot plate with a little sink and fridge. Not much work surface either, but it’s all modern and clean and new to newish. There is an entrance hall which has a very good, big and well built cupboard with sliding mirrored doors. The main room has one single bed and a narrow double bed (we joked with the owner about it only being a double bed in winter) which lifts up against the wall during the day to resemble a cupboard – very neat system – and clears the room for table and chairs during the day.
Theoretically the apartment is being sold without its furniture, but I would personally offer the asking price but specify that the price is to include all furniture. I would not try to negotiate much because this apartment will sell straight away.

Rentability? It’s in Palm Beach in a good and quiet position. It is perfectly OK for a couple or two men, and we could afford to offer it at a very good rate to cost conscious visitors.

I think this is a very useful entrance to the property market for someone interested in it. It’s a great little investment. Of that I have little doubt, and at the price I believe it will be easier than most to make a significant return on your investment, and quickly.

Rue Le Cerf: Asking Price 150 000

First, the geography. It is just off the Croisette on Rue Le Cerf which is behind the Noga Hilton, and one block from the famous and vibrant Rue de Antibes. It is in a brilliant position.

The building is large, although only the normal 5 floors high, and is well maintained.

The size is 32 sq.m. and there is a lock up garage under the building on a long term lease of 75 euros per month. Excellent bonus in this part of town, but optional to the purchaser to take it on. I certainly would.
The apartment is on the 3rd floor.

It has been the very well kept home of a couple who are still there but move into something bigger.

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