After two operations financed by Raizers and already reimbursed to investors, the Hestia group is proposing a third prestigious renovation, the Villa "Peninsula".
Benefiting from a privileged location on the heights of Cannes, facing south-east with an exceptional sea view, the 5-bedroom villa will be fully equipped and will offer top-of-the-range amenities, including two swimming pools, a luxurious kitchen, a cinema room, a wine cellar and a fitness room.
Focus on the program
The location of the plot is ideally situated, overlooking a natural reserve, avoiding any future construction, and facing south giving a panoramic view over the bay of the Golf de Juan.
The operation is a renovation of a contemporary villa located in the municipality of Vallauris, with a little over 25,000 inhabitants. It is located 5 kilometers from the city center of Cannes and the Golf de Juan, and about 700 m as the crow flies from the seafront. The property is located on a little-used dual carriageway. The A8 motorway is 8 kilometers away and the international airport is 24 kilometers away.
Current villa and panorama:
Works and administrative permits
The work will consist of an upgrade of current services. In particular, it is planned to enlarge the openings in the façades and the swimming pool.
A building permit was filed on 15 January to obtain authorization to carry out this work. During the time it takes to obtain the permit, which is scheduled for the third quarter of 2021, some interior renovation work may begin.
Note that the building permit does not require any additional surface area and the bank for the operation - Société Générale - is financing the acquisition of the land to the tune of €4 million before obtaining the administrative authorization.
The worksite will be carried out by service providers who are already very well known to the Hestia group.
A provisional budget of €2.6 million (excluding VAT) has been earmarked, including €300,000 for furniture, €140,000 for the kitchen and dressing room, €315,000 for masonry and €320,000 for exterior joinery.
Examples of services carried out on the next-door villa "Vistamar":
Few agencies specialized in this sector (MICHAEL ZINGRAF - JOHN TAYLOR - KNIGHT FRANK - MAGREY AND SONS), well known by the Hestia group, will be mandated to sell this villa.
The marketing price retained by the operator is €14 million (i.e. €25,455/m²). It is explained by the exceptional location of this villa offers a unique panoramic sea view and a very high standard of luxury, which makes it a prestigious property and justifies this price positioning.
Moreover, this location is well known by the operator who has already carried out the "Vistamar", "Calcan" and "Océane" operations on the neighboring plots, sold at similar prices.
*Some surfaces are missing, not allowing us to calculate the price/m².
Examples of similar villas currently for sale:
Agency | Description | Type | Nb rooms | Area | Price | Price in €/m² |
Michael Zingraf | House | 5 | 500 m² | 11 400 000 € | 22 800 €/m² | |
Savills | Elegant residence with roof terrace offering a superb panoramic sea view | House | 5 | 1 000 m² | 19 000 000 € | 19 000 €/m² |
Knight Frank | Contemporary villa with swimming pool and panoramic sea view on the heights of Cannes | House | 5 | 600 m² | 12 000 000 € | 20 000 €/m² |
Knight Frank | House | 5 | 360 m² | 9 600 000 € | 26 667 €/m² |
The renovation-resale purchase operation is carried out by SAS PENINSULA, with a capital of 1,000 euros, registered in the Cannes Trade and Companies Register under number 887 945 921, on 10/08/2020.
It is 100% owned by SAS HESTIA.
The bond loan will be issued by SAS HESTIA at an annual rate of 10% per year, for a period of 24 months. The interest is paid annually and the capital in fine.
To provide additional guarantees, the repayment of the bond loan is guaranteed by:
* Personal guarantee from Mr. Victor Perez
* First Demand Guarantees from SAS PENINSULA and SAS KAIA
The bond contract provides for early redemption if:
* Sale of the villa
All the documents associated with this fundraising are available in the "documentation" tab.
Additional financing of €3.2 million is planned to support the work by Société Générale once the Building Permit has been definitively obtained.
HESTIA is represented by its president Victor Perez and Marie-Anne Prévoteau who jointly own the company.
Mr. Perez, 72 years old, is a graduate of Paris Dauphine and a former trader. He was notably President of the world leader in the sugar and raw materials market before becoming, since 2000, an operator specialized in the purchase of land and the construction/renovation of luxury villas in the Cannes region.
On 28 October 2020, he declared a net asset value of €18.5 million to Société Générale.
He works with Marie-Anne Prévoteau, his wife, 53 years old, a graduate of the Paris School of Commerce and Economic Affairs and former director of a press group, which deals in particular with the interior design of projects.
After more than 5 years of working with the HESTIA group, they have succeeded in developing their "architectural touch" and notably made the cover of the international edition of the Résidences magazine for its Villa Vistamar project.
Focus on financial elements of Hestia, carrying the operation
Balance sheet Hestia
* Including €1,680,513 in associated current accounts
Income statement Hestia
Focus on financial elements of Kaia, First Demand Guarantee
Balance sheet Kaia
*Including €178,000 in associated current accounts
Income statement Kaia
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