Property Letter Postscript : July 8th 2006

Posted by admin in Business, Property Investment, Property Letters, The South of France | July 10th 2006

Dear All,

Somebody should go for this one! It’s that simple.
Vicky and I found it yesterday, and I have been waiting for a few details to come clear

before writing.

If you think you can, and if it suits your needs, please get back to me right away, between

Wimbledon and World Cup distractions that is – I’m supporting France in the Ladies Tennis

(Amelie Mauresmo) and in the Football!

Kindest regards,

Guy.

One Bedroom Apartment just off the Rue d’Antibes.
(It’s not a one bedroom apartment yet, but it will be)
Price – 193 800 euros.
Living space – 39.5 sq.m.
Floor – 3rd floor of 4.
View – open view of the town and the hills beyond, but the apartment overlooks from a slight

angle a very pleasing segment of the Rue d’Antibes, with one particularly lovely classic

building opposite, on the Rue d’Antibes, and wonderful shops and a famous patisserie

dominating.

The building is only 4 floors and it is not a particularly impressive one, having been built

in 1960. However, there’s nothing wrong with it either. It is set amongst buildings of the

same era, and very old classic buildings, but all are in top condition. This is a “class”

area on one of the classiest streets in France. The position is excellent.

The entrance to the building and stairs and each landing are newly renovated. So they are

clean and bright. There is a lift.

The apartment itself is a very spacious studio apartment, old and without any merit in its

existing state. However, as one enters there are three steps up to a raised section which

houses the very big bathroom. The living room opens onto a reasonable balcony (big enough

for a table and a couple of chairs) overlooking a side street, with the Rue d’Antibes to the

right, just 20m away. The kitchen is in a recess at the far side. What we propose is to

extend the raised bathroom and move the wall, making it into a lovely and rather “character”

bedroom with its window to the front. Then we would suggest creating an open plan kitchen

off the living room, and a spacious bathroom in the recess where the old kitchen is which

also has a window to the front. There is no major renovation required to achieve this, and

we have architects plans for the conversion. We estimate that the cost to turn this studio

into a modern, character one bedroom apartment will be in the region of 35 000 euros.

The resulting finished apartment at under 230 000 euros, in this position, is very

worthwhile considering for anyone who is looking in this price bracket. Rentability will be

as good as it gets, and in value terms we can’t beat it.

My guess is we need to move quite fast.

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