PL32 – 2nd October 2003.

Posted by admin in Property Letters | October 2nd 2003

Dear All,

Look, I know that this is irrelevant to many of you, but who am I to make that judgement?

I have to write this one quickly. I go through periods of relative drought, and sometimes it pours. At the moment it’s pouring!! And we need to move fast.

I expect to have another couple of interesting apartments before the weekend, in a far lower price range – so you will hear if I do.

Extraordinary offer close to the centre of Cannes:

VILLA LE LYS
Two bedroom apartment
80 m2 of living space with 15m2 of balcony
Asking price – 270 000 Euros
Price per m2 – 3375 Euros
Swimming pool, garage and cellar

I think I have some sort of exclusivity on this apartment for about 3 days. The owner is in Miami – lives there – and is not au fait with what has happened to prices here the last couple of years.

There is a Bourgeois Villa which was once in its own enormous gardens. Those gardens have been beautifully maintained and a gorgeous huge swimming pool added. The villa itself has been converted into 4 apartments of about 300 m2 each, and in the gardens about four low and tasteful blocks have been built (In 1990). The pool is for the use of residents and guests.

The apartment on offer is on the first floor, and opens onto the gardens from all sides, and you can’t even see a road let alone hear one. The pool is visible through mature trees and greenery, but the view is not of pool – it is of gardens and the lovely villa, some apartment buildings within the garden, and attractive rooftops towards the centre of town.

It looks east basically, but because the balcony wraps around the apartment, it also looks north and south.

The whole apartment is equipped with electric shutters, double glazed, and the floors in the whole living area are a lovely polished travertine (false marble). In the bedroom section, which is separated from the living section by a door and rooms come off a passage, the floors are carpeted (nicely and in clean and good condition)

The balcony is wonderful – quiet, perfect for evenings and for meals.
The main room is large and easily fits the dining table and the lounge into it, and the kitchen is spacious and modern with a walk in pantry which I have not often seen here. Cupboarding in both rooms, and the bedrooms and bathrooms for that matter is generous.

Both bedrooms are spacious, and each one opens through double glass doors onto the balcony. One bedroom has a bathroom en suite, with a separate loo. Off the passage is another shower room and loo. I.e. Two bathrooms and two loos!

The parking is in the basement as is the spacious cellar.

The furnishing is very good and most of it goes with the apartment – there is some there which is personal to the tenant who is in the process of moving out. So I would describe the apartment as being ‘half furnished’ and the kitchen as equipped.

The only thing against it is that the French had this horrible habit in the 80’s and 90’s of covering the walls with a material. Cotton. Its fine and looked great at the time but ten years down the line it has collected dust, and most noticeable is when you remove a picture from the wall – totally different colour behind!

So, the whole apartment should be repainted as new – material removed and thrown away. I phoned our main building contractor this morning and asked him what it would cost to do a 80 m2 apartment and he reckoned 12 to 15 000 Euros.

So I suggest take that into account and offer 255 000 Euros.

This one I would buy tomorrow if I could – I have not seen value like this before.

Where is it? It occupies the block with Rue de Lys on the East, Boulevard Montfleury south, Rue Baron West and Avenue Isola Bella north. The apartment is in the south eastern corner of the development. It is a block and a half to the Voie Rapid, and across it to Rue d’Antibes where one would arrive close to the Place Gambetta underground parking area.
To walk from the apartment to Rue d’Antibes – 3 minutes.
I walked to the Carlton Hotel on the Croisette, easily, in 7 minutes.

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