Hôtel Particulier Jardin du Luxembourg

Reference: M100 - 12 Bedroom Chateau - €38,000,000
Location: 6ème arrondissement - Luxembourg, Jardin du Luxembourg - Quartier Latin

IFP Currency Converstion powered by FC Exchange

€38,000,000 is approximately :

Australian Dollars : $64,902,480

British Pounds : £30,639,400

Canadian Dollars : $58,852,120

Hongkong Dollars : $437,565,440

Japanese Yen : ¥6,095,570,880

New Zealand Dollars : $79,619,500

Swiss Francs : F61,296,280

US Dollars : $56,029,860

Please note that these conversions are approximate and for guidance only. They do not constitute sale prices.

€38,000,000

Bedrooms	Habitable	Land Size
12	1228m²	7000m²

12 Bedroom Chateau - €38,000,000 - Location: 6ème arrondissement - Luxembourg, Jardin du Luxembourg - Quartier Latin

Paris Ile-de-France, Paris, 6ème arrondissement - Luxembourg

This Property is For Sale by Madison Real Estate

To find out more about this agent or to view more of their properties visit their IFP Microsite

Description

This exclusive private mansion, located at the corner of “Jardin du Luxembourg”, the largest Park in Central Paris, at the heart of the famous “Quartier Latin” was built in a typical 18th century French architecture.

Built around a very stylish 110 sqm “Cour d’honneur”, it beneficiates from a double-exposure: North on a 650 square meter-large private garden with multi-centuries trees and decorated with a great variety of vegetation, fountains and statues; South on the 7,000 square meter large garden of a state-owned institution.

Extremely quiet and very luminous, with his 4 meter high ceilings on the reception floor covered with frescoes, this 1,228 sqm “palazzo” is a unique combination of classical French architecture and Italian Renaissance decoration.

The current display is set with 6 independent entrances including private accesses for service rooms. The house has today 12 sleeping rooms (3 for the service) but 6 large ones could be easily added by converting existing reception & prestige office rooms.A Luxemburg-based Company has held the Building since November 2004. The Building is the only asset detained by this commercial company purposely constituted for this operation. The company is the sole and full owner of the Building and has no other asset.
There are no liabilities but a €11 million bank credit with DEXIA Luxemburg, which is fully guaranteed by the current owner of the company. The future owners can either substitute themselves in this credit and therefore subtract the current amount of the credit from the final price, or alternatively ask the current owner to pay it back the very day of the transaction.
The company has been constituted with bearer shares. The 3 current managers and board members have declared themselves as the owners both to the French & Luxemburg administrations. 100% of the shares of the company are currently in the hands of the real owner, who is selling either the shares of the company.
The company has been legally constituted and the whole process described herewith has been set up & validated both by bankers and tax and legal advisors.
Legal & tax constraint on a normal transaction for a building in France:
1/ administrative constraint:
• The transaction is held before a notary (long and very formal procedure);
• The transaction follows a long step-by-step process: an option is signed at first and the future owner pays a down payment representing 10% of the transaction price. Then the notary gives notice of the future transaction to the administration, which has a 2-month long pre-emption right. The parties must therefore wait for this 2-month period to be ended before signing the final protocol.
• The future owner is compelled to declare his identity to the French Treasury administration.
2/ tax constraint:
• The future owner has to pay a 7.09% registration tax to the notary, i.e. some 2.5 million euros for the expected price.
• The future owner will have to declare this building as a part of his patrimony in France and pay annually some capital taxes.
Advantages of the transaction proposed:
By proposing the shares of the Luxemburg-based company, these constraints are avoided:
1/ no administrative constraint:
• The transaction is entirely private, informal, and instantaneous: delivery of the shares versus confirmation of an irrevocable order of SWIFT transfer of the payment.
• No delays, no risk of pre-emption, no official documents.

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Features

Bedrooms: 12
Habitable Space: 1228 m²
Land Size: 7000 m²

Condition and Utility Information

Condition - Restored / Habitable
Roof - Good Condition
Heating - Central heating

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