PL35b – January 2004.

Posted by admin in Property Letters | January 1st 2004

Dear All,

We start the New Year with a new beginning in many ways, and a wish that for all of us it is a peaceful and prosperous one. As our property venture in France grows and strengthens so does our optimism, and our conviction that for all the investors in our group 2004 will continue to bring increasing rewards.

Yahoo Group. (Mailing List)

I send out an irregular flow of Property Letters during the year and many people have asked to be on our mailing list because our initiative in Cannes is interesting or academic to them, and they wish to stay in tune with what is happening in another arena. Others continue to receive the letters because they really hope to invest in European property in the future. Some are investors already.

Last year for efficiency and to ensure confidentiality (you can’t tell who else is on the list) we subscribed to a Yahoo Group mailing service. It works well although I don’t really like the format, and the fact that the price we pay for the service is that the letter you receive from me sometimes displays a small commercial advertisement. However I think the advantages outweigh the disadvantages and it certainly saves me time.
You can de-subscribe from the list by following the simple process at the bottom of this or any of the letters, or by asking us to de-subscribe you. You can equally add names and addresses of people who would like to be on it, or ask us to do so.

I have been through our address lists (which were getting a bit out of hand), and in order to tidy it all up and check addresses, and at the same time not to leave anyone out who would like to be in, I have included you on the list. Please accept my sincere apologies if you would rather not receive my mails, and de-subscribe.

Evolution and Progress.

AzurAccom the company we started in 2002 to look after the properties we bought in and around Cannes on behalf of investors is now formally linked to Azur Eden, the family owned and run agency we have dealt most closely with over the last year and a half. We have bought a one third share in it which took effect from the 1st January 2004.

It is a happy coincidence that the name was so similar to our own AzurAccom, as they were in business before we ever went to Cannes!
o Our partnering with them will bring us a great deal of local knowledge that would have taken years to acquire.
o Our combined efforts will greatly increase our ability and effectiveness in letting the apartments and properties of investors.
o We will be running a better and tighter ship with a streamlined administration which will have benefits for all owners and for ourselves.
o Legalities were a hurdle we faced, but which is now resolved. I refer particularly to the fact that we did not have a “carte transaction” and were going to have to work under someone else’s for at least four years before we could apply for one.
o We had limited access to French clients and guests, and now we have expanded that greatly, as well as access to the Italian market which is huge in summer. Many Italians prefer, or find it trendier to holiday in France than in Italy and they cross over in droves. Our little company has a strong Italian connection.
o We now have a very good and busy street frontage. That is a great step forward and already Lao will tell you, he has rental business coming in the door. Last summer he worked informally with Azur Eden, and nearly all of his holiday lets were as a result of walk-ins.

AzurAccom will continue to operate as a service company and will complement the activities of Azur Eden. AzurAccom will be the vehicle we use for all the administration that we do on owners behalves, for the servicing and maintenance of apartments, and the renovation and furnishing when that is required. The entire letting operation however will be run through Azur Eden.

Summary – Cannes Property Initiative.

I am aware that some of you have not been on the mailing list for very long.
I updated a summary of our Cannes operation in December, so anyone who would like to have a look at it, please reply to this letter and ask simply “Please send summary?” and you will have it by return. (It is only 6 plain text pages – 68KB in size). The sub-headings, to give you an idea of what it covers are:

o We continue to learn here every day…
o Who are we and what do we all do?
o Our rental operation.
o On capital appreciation.
o Why is property good?
o Why France?
o And why specifically the Cote d’Azur?
o What are we investing in?
o How much do you need to start investing?
o Some questions answered.
o Tax issues.
o Management.
o Evolution.
o The last word – our aim and objective.

Lao & Katherine (our son and daughter in law) are in Cannes running our family business on a permanent basis.

Guy & Vicky’s dates:-
o We arrive in Cannes on 15th February, and will be there until 6th March.
o We are again in Cannes from 13th April until 28th May (Vicky) and 11th June (Guy).
(Once we have been there for a few days and start to see properties that are compelling from an investment point of view, I will write to you with descriptions, prices and other details as usual, so you can expect to hear from me again in the 3rd/4th weeks of February.)

Please feel free to make contact with us if you are interested in investing, or just in more information.
Please come and see us in Cannes and have a “look around the farm” as it were. Because Lao and Katherine are really extremely busy all of the time it would be better if your visit coincided with Vicky and I being in Cannes if possible. In addition to the dates above we will be there in September/October, and probably November, exact dates to be confirmed.
Please put others who may be interested in our scheme in touch with us. We would very much like to expand the network.
Please. Please. Please spread the word among your friends and contacts that we are there for them in the South of France.

Accommodation in Cape Town – Zimbabwean Farming Friends Gary and Lippy Pentland-Smith have opened their lovely guesthouse down the road from us in Fresnaye (above Sea Point). Gary has spent many months renovating it, and they now have eight rooms to let, all are spacious and have en-suite bathrooms, and if you are planning a trip to Cape Town or know someone who is, please give them a call. There’s nothing that helps get a new venture off the ground (as we French property owners know) like a little bit of friendly word of mouth, so please spread the word for them too.
o Their e-mail – pentsmith@telkomsa.net
o Their phone number – +27 (0)21 434 7347
o Gary’s mobile – +27 (0)83 609 6087

Roll on 2004, and once more, we wish you all the very best for it.

Guy & Vicky.
(Watson-Smith)

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