Villa Panoramique, Valbonne, Cote d'Azur - South of France : Property For Sale:

Luxurious hill top villa with stunning views of the Cap d'Antibes, Mediterranean Sea, southern Alps and Loup Valley, in an exclusive gated residence located in a prestigious area of the French Riviera. Situated in the heart of the Cote d'Azur, this beautiful villa with private pool provides easy access to all of the sophistication and traditional charm of the south of France. It is now available for fractional ownership to a select few individuals who seek an extraordinary second home.

Property Highlights

• Luxurious main villa with independent apartment
• Beautiful professionally landscaped and terraced gardens
• Quiet exclusive gated residence surrounded by forest
• Located between the ancient villages of Valbonne and Biot
• Easy access to sailing and all water sports on the Mediterranean
• An hour's drive to Monte Carlo, San Remo Italy and St. Tropez

• Incredible panoramic views across the Mediterranean Sea, Alpes Maritimes and Loup Valley
• Large heated swimming pool
• Only five miles to the nearest beaches and Antibes harbor
• Within minutes of several superb public golf courses
• Twenty minutes from Nice airport and the Cannes Film Festival
• Venice Italy and Barcelona Spain are each an easy day's drive

Property Description

The Setting

Villa Panoramique is in a stunning location, overlooking an exceptional 230-degree view of the Mediterranean Sea and Cap d’Antibes, the snow-capped Alpes Maritimes and the Gorge du Loup and Loup Valley. Its tranquil position on a hilltop above the coast makes Villa Panoramique a rare jewel in the crown of the Cote d’Azur.

The villa is located in one of the most exclusive private residences in the heart of the Riviera, with easy access to all of the amenities that this area has to offer. Situated between the ancient villages of Valbonne and Biot, the villa is less than 10 minutes’ drive to the beach and 20 minutes to Cannes and to Nice airport.

The residence incorporates 15 hectares (about 40 acres) of forest and is surrounded by a departmental park of several hundred hectares, which is protected as green zone. Not only does the situation assure quiet, privacy and a natural setting, a limited amount of housing can be built in the area, helping to maintain the property values of villas in the residence.

This small residence employs a full time on-site “gardien” who offers concierge services to villa owners, including airport pick-up and drop-off. Located within the gated community are tennis courts, volleyball and boule courts, outdoor table tennis, a children’s play area and an Olympic sized communal pool, (in addition to the private heated pool in the villa’s garden) all set amidst a well-maintained wooded landscape. Villa Panoramique is the only villa in the residence being offered for fractional ownership. The other villas are owned by families and used primarily as second homes.

Villa Panoramique is less than 2 kilometers from the nearest amenities, which include a small supermarket, pharmacy, café, bakery and other essential services. The nearby villages of Valbonne and Biot each have many small shops as well as a weekly market that supplies local produce, fresh cheeses, artisan meats and honey, along with beautiful linens, clothing, jewelry and leather goods.

The Villa

A charming exterior courtyard provides a cool entrance to the villa, leading to the open plan living/dining room, which benefits from panoramic views of the sea, mountains and valley. Custom window walls access terraces onto the garden, the 11X5 meter (36' X 16') heated pool and several well-appointed exterior seating and dining areas.

The bespoke kitchen offers granite worktops, a stainless steel dual fuel range and dishwasher, American fridge freezer with exterior ice/water dispenser, garbage disposal, trash compactor and microwave. It has a wonderful view on the sea, with custom french doors onto the pool, a barbecue area and a large vine covered dining terrace with an artisan crafted wrought iron and travertine dining table seating 16.

On the main floor there is also 1 of 2 master suites which opens onto a terrace with a marvelous view of the mountains and valley. Adjacent to this bedroom is a fitted office with wireless Internet connectivity, fax, and separate phone line. In addition, there is a WC/shower room, laundry and garage on this level of the villa.

On the upper floor is a luxurious master suite with fabulous 230 degree views, including a granite ensuite bathroom with a jacuzzi for two and large open shower. There is a second bedroom on this floor with ensuite bathroom and French doors opening onto its own balcony with beautiful views of the mountains, valley and sea.

The self-contained garden apartment on the lower level has 2 more bedrooms, a living/dining room, kitchen and bathroom. French doors from each room provide views of the valley and mountains, and access to the covered outside dining area set in the garden. The apartment has a separate access to the parking area and to the pool. This apartment is ideal for visiting friends, family and business associates.

The mature landscaped garden is approximately 4500 m2 (2 acres) on four levels. The forest is just beyond the garden and offers opportunities for children to play, as well as many wonderful walks for all members of the family. There is parking for 3 cars within the garden and further parking just outside the gate. The gated residence provides security for the villa, and the villa has a security system to protect valuables.

The Region

Villa Panoramique is only 45 minutes to Monaco and the Italian border in one direction and the same distance to St. Tropez in the other direction. To the east, all of northern Italy, including Portofino, Sienna, Florence, Venice, Milan and the Italian Alps are within a day’s drive from the villa. To the west are Marseilles, Avignon, northern Spain and Barcelona, again, all within a day’s drive. The Alpes Maritime or southern Alps and the Parc Mercantour are nearby, offering many ski areas between 45 minutes and 2 hours’ drive. The world famous ski resorts of the French Alps, such as Chamonix and the Trois Vallées are approximately 5 hours north by car.

In addition to Valbonne, Biot and Antibes, the surrounding hill villages of Mougins, St Paul de Vence, Tourettes sur Loup and Grasse are close to the villa. Biot has been famous for its glass ateliers and Grasse for its perfumeries for more than a century, St Paul de Vence boasts an international collection of artists and Antibes is the largest yacht harbor in Europe. Valbonne has a very chic, multi-cultural and multi-lingual population. While its narrow cobbled streets are full of restaurants, shops and art galleries, it retains its traditional village character and ancient charm.

The phenomenal Cote d’Azur weather encourages residents to enjoy a large variety of sports throughout the year. Several excellent golf courses are located within 10 minutes of the villa; superb sailing, windsurfing, waterskiing, snorkeling and scuba diving are offered in Antibes, Cannes and other coastal towns; snow skiing is nearby; the cliffs of the Gorge du Loup provide opportunities for parapenting and hang-gliding; bicycle clubs for all levels of fitness offer the chance to see the region from a different perspective; there are numerous splendid walks in the forest surrounding the villa, along the local Brague and Loup Rivers, and the region is famous for an established network of walks in the surrounding mountains and along the coast.

The Investment Opportunity

Property on the French Riviera is an excellent investment. The combination of a sunny temperate climate, a beautiful environment and proximity to the sea and mountains has created a magnet for discerning individuals for over a century. Real estate prices in this region have always been among the most valuable in the world, maintaining market value during downturns in the economy and showing substantial increases in value when global economic growth is strong. Sustained interest in owning a second home on the Cote d’Azur and an increase in both the population of vacation homeowners and permanent residents has lead to greater demand than supply of available homes in the area. As a result, rising prices over the past few years on the French Riviera have significantly increased the cost of home ownership in this area.

Villa Panoramique has tripled in value in the past 10 years. Ownership in this villa has an investment potential that has been and will continue to be impressive.

In the current economic climate, one might expect the price of real estate to decrease, but this is generally not the case on the Cote d’Azur and particularly in the vicinity of Villa Panoramique. Despite the general slow down in real estate values throughout Europe and North America over the past two years, villas in this exclusive residence have retained their value and will increase with the next upsurge in the market.

This upsurge seems imminent. “Recovery appears to have begun in most of the world’s major housing markets, according to the latest Global House Price Index from Knight Frank. House prices are now rising in a clear majority of locations around the world with almost 70% of the locations reporting growth in the third quarter of 2009” said Liam Bailey, head of residential research at Knight Frank. OPP January 2010

Villa Panoramique benefits from several factors: its location near to Valbonne, the extraordinary sea and mountain views, a southern exposure and a large lot. Value is also enhanced by inclusion in a private gated residence. These qualities generally increase values by 25% to 40% and contribute to preserving a villa's value over similar nearby homes.

There are very few private homes offering fractional equity ownership in the south of France, which enhances the value of Villa Panoramique. As the current demand for fractional ownership increases, the value of this home will escalate.

While we expect Villa Panoramique to appreciate significantly in the coming years, and each co-owner will benefit from this increase in value, the intention in offering this property for shared ownership is for owners to have an amazing second home without the responsibilities and costs of a wholly owned property.

It is worth noting that Villa Panoramique is located in a region that has none of the environmental risk factors that affect many other regions of the world where vacation properties are located. There are no earthquakes, no hurricanes, no tornadoes, no volcanoes, no wildfires, no tsunamis, no floods, no worries!

This is an opportunity to share the benefits of an irreplaceable property on the French Riviera, with its amazing climate, sophisticated milieu and beautiful environment, where family and friends can gather to relax, become a part of the local culture and partake in the many activities available for all.

Fractional Ownership in Villa Panoramique

Fractional ownership in Villa Panoramique allows a small group of individuals to own a deeded equity interest in an exceptional, high quality home located in an exclusive area of the French Riviera, at an attractive price.

There are many variations on fractional ownership. Villa Panoramique proposes a specific type of fractional ownership, providing owners with control of all aspects of the property, while distributing responsibilities and costs among the ownership group.

Villa Panoramique is not a part of a “resort club”. Resort clubs typically do not offer equity participation in the property, but rather, one purchases a right to use. Generally there is a large membership purchase price, substantial annual fees, as well as costs when the membership is sold. In these schemes, the developers are making a substantial ongoing profit at the expense of the members.

Neither is Villa Panoramique one of the many "private homes" purchased by developers who resell them as fractional properties at a dramatically increased purchase price, receive a substantial ongoing annual maintenance fee and retain control over all decisions associated with the property.

Shares in Villa Panoramique are being sold by the current owners, so there are no developer’s costs added to the price of these shares, or ongoing developer’s fees that must be included in the annual costs. The price of shares reflects the actual value of the property, without any additional development costs that must be overcome by rapid escalation in the property market.

The number of shares in Villa Panoramique has been limited to a maximum of 8, allowing each owner to use the villa for a minimum of 6 weeks/year, to keep the ownership group small, and to assure that the villa can be thoroughly maintained each year.

Our Fractional Equity Ownership Model

Title and deeded ownership of a share in a second home offers a sensible solution to the often costly and demanding responsibilities of absentee ownership, creating a more productive cost/benefit ratio for investment in a second home. All investment, legal and tax benefits of property ownership apply to fractional ownership.

Each owner has an undivided deeded interest and real equity ownership in the property. Owners hold the actual title deeds and own a percentage of the property, making it a true asset that will appreciate at market rates, and can be treated like any other privately held real estate. This deeded real estate asset can be transferred, either through a sale or passed on as an inheritance. It can also be used as a business retreat, lent to friends and relatives, swapped for other properties around the world, or weeks of use can be donated to charity.

Typically, those who participate as fractional owners are people who can afford to purchase the property outright but do not have the time to use it and do not want the responsibility attached to sole ownership, or feel that, given the amount of time the property is “idle”, it is not a wise investment. There are also some owners who participate because it allows them to own a more luxurious property than they might otherwise be able to afford. Whatever the motivation, fractional owners benefit from deeded ownership without the burdens and responsibilities of sole ownership.

As a means of buying a second home or investing in real estate, fractional ownership has gained in popularity over the past 10 years in the US, becoming the fastest growing segment of the US real estate market, growing over three times faster than the industry as a whole. In Europe, fractional ownership has also begun to emerge as an accepted ownership vehicle, lead by British buyers, with other northern European investors buying equity shares in homes in Europe and throughout the world.

Part of the reason why fractional ownership is becoming more widespread is the fact that second homes are used an average of 28 days/year. Many people have begun to question whether it is good value for money to make a large investment in a home that, in the best circumstances, is likely to be used a maximum of 3 months/year.

In addition to the initial cost of buying a wholly owned property, there are ongoing maintenance and management costs for 365 days/year. Sharing a property, where responsibilities and costs for maintenance and management are distributed among the owners, is a viable alternative to buying and then paying for the maintenance of a property that may only be used a few weeks a year.

Professional property management is an important aspect of fractional ownership. A knowledgeable on-site manager guarantees that the property is well maintained throughout the year and is clean and beautifully presented upon your arrival. For properties with substantial grounds and valuable outdoor amenities, attentive management is particularly important. The costs of good quality property management can be onerous for one owner, but is reasonable when shared by a few owners.

Administrative responsibilities are a necessary but often unpleasant element of home ownership. Adding another set of administrative tasks for a second home exacerbates this burden. In a fractional ownership property, all bill paying, bookkeeping, legal and tax requirements are professionally administered, increasing the enjoyment and decreasing the hassles associated with home ownership.

Fractional ownership allows owners to decide how often they want to use the property. Typically there are between 4 and 13 shares, giving owners from 1 to 3 months of usage each year, providing owners with the flexibility to choose the right option to suit their needs.

The Purchase Process

The owners of Villa Panoramique have enlisted the expertise of an American lawyer, based in Paris who practices law both in France and California. He is an expert in American and French fractional ownership, and will manage all aspects of the purchase process. It is his responsibility to develop the legal structure for Villa Panoramique and oversee all legal aspects of owning a fractional property in France. Ownership of the villa will be held either by a US or UK company, avoiding potential legal complications in France. Potential owners are welcome to have their own legal and financial counsel review purchase documents.

The purchase documents include a shared ownership agreement that specifies each owner’s legal property rights and protections within the fractional ownership structure. It also outlines the conditions that govern use and maintenance of the property, and details a process for addressing any damage or misuse, as well as procedures for re-sale of shares. An annual meeting will be held by the owners to oversee the management of the property, set a yearly budget for anticipated expenses and assure that the value of Villa Panoramique is maintained.

Prior to purchase, prospective buyers are encouraged to visit Villa Panoramique for a 2 week stay, during which they can conduct their own “due diligence” of the property’s assets and the amenities of the Cote d’Azur.

Property Management

Owners in Villa Panoramique control the decision-making process, but a local management company will deal with all all aspects of property management. Each year the ownership group will have the opportunity to assess the management of the property and replace this company if they so choose.

Tax and administrative requirements are also professionally managed. An estimated budget of annual expenses, such as insurance, property taxes, utilities, administration, and maintenance, will be established on a yearly basis. Annual costs will be transparent and monitored by the owners. The running costs in recent years are available upon request.

Each owner will contribute to the annual expenses, based on use, as well as make a yearly deposit that will be drawn down after each visit to pay for that owner’s cleaning and other costs, with a record of expenses associated with each visit sent from the management company to each owner after departure. In this way, each owner is responsible for his or her use of the property; the group of owners is not responsible for the actions of each individual owner.

Schedule of Use

The ownership agreement defines the number of weeks each owner can use the property and the schedule of use for all owners. Use in the first year will be determined by the preferences of the purchasers, giving the owner who first commits to purchase the first choice of weeks within each time block. After the first year, the schedule will be on a rotating basis. The group of owners can decide the length of stays throughout the year, based on 2, 3 or 4 week consecutive time periods, however, during the summer (June, July and August) each owner will be able to use Villa Panoramique for a 2 week stay so that all owners will have access at this time of year. The year’s schedule of use will be made available to all owners to facilitate communication, allowing owners to exchange and request weeks among themselves. Because the weather is beautiful throughout the year, there is no “off-season”.

The Offer

Shares in Villa Panoramique are being offered at 300,000 euros. This provides each owner with a 1/8 ownership and 6 weeks of use/year. Multiple shares can be purchased by one owner who wishes to have more weeks of use each year.

Owner Financing

The owners of Villa Panoramique are able to offer a lease-buy option to purchasers who cannot provide their own financing. Purchasers choosing this option would invest 100,000 euros for a 3 year lease, with a balance of 200,000 euros at the end of the lease period. Further details are available to interested buyers.

For Sale

MLS#: 33-06560