Updated Opportunity to Invest and Manage Commercial Development Suitable For a UK SIPP (Self-invested Pension Fund)

An opportunity exists for anyone who has dreamed of owning and developing their own business venture in South-West France. Following completion of a ten year ambitious programme, which has involved the conversion of the 18th century winery of a local château into 27 apartments and commercial facilities, an updated opportunity is now available at a very competitive price.

This unique package includes both furnished residential accommodation and a quality commercial enterprise that offers considerable potential for growth.

The venture consists of ownership of the following:

1. Ownership of an existing SCI already established to own and manage the commercial development. The legal work has already been completed in France and UK to allow the commercial investment to be held in an approved UK SIPP (Self Invested Pension Fund) including the appointment of Pension Trustees
2. The Bars, restaurant and Cave du Roi are at present licensed for 342 people (328 customers and 14 staff)
3. An independent report of the ‘Licence IV’ and ‘Materiel & Mobilier’ supports a valuation of €201,350 (Cabinet Luc Expert-2007 Rapport D’Expertise). This includes extensive kitchen and dining equipment, furniture, fittings, bar and audio visual equipment. All included within the overall price
4. A bail commercial contract was established in June 2008 through to 30th May 2017. However in June 2009 there has been a break in the operation of the restaurant, bars and function room providing an excellent opportunity to renegotiate the commercial contract and locate a new operator. The existing bail commercial confirms a rent of €3,628 per month from June 2009 increasing each year by ‘l’indice 1474’ together with €500 per month for the Licence IV and furniture, fixtures and fittings
5. A Cave Function Room with bars and a restaurant (410 sq m) originally developed as a private Jazz Club. The complex consists of one bar in the Cave, a function room for approximately 150 people with toilets, a stage with an artists/private room behind the stage, a lift for the disabled, one bar/lounge with outside seating, a restaurant for 30–50 people linked to an outside seating area and to the Cave, a kitchen to cater for both larger functions and the restaurant, extensive audio video system to cater for concerts and karaoke. Conversion work on the kitchen and Cave was completed in May 2005. This valuation (new window, PDF, 7,698KB) was completed in April 2005, amounting to €1.190 million based on a total area of 529 sq m and a monthly rental income of approximately €4,000. (Freehold interest owned by GILLAK SCI, with designated private parking area for the Restaurant, Bars and Function room.)
6. Three shops/offices on the corner of the development (85 sq m) with entrances from both the main road in La Redorte and the garden/private parking area. There is a central skylight with a small kitchen and bathroom. This is classified for both commercial and residential use. If justified could be converted into a private ground floor apartment with a small garden. Previously two of the offices have been used by a firm of Estate Agents with the third office used by the Manager for the Cave. The vacant premises,is separately owned by SCI Gillak with an outstanding mortgage of approximately €66,000. This valuation (new window, PDF, 2,515KB) was completed in April 2005 amounting to €189,000 based on a total area of 119 sq m and a monthly rental income of approximately €1,500

All of the above are available at a competitive price in the region of €850,000 without apartment Sauvignon or €1.1 million (Sterling 960,000) including the additional apartment. This includes:

• ownership of licence IV, all furniture and fixtures, the restaurant and kitchen equipment, bar equipment including an extensive audio/visual investment, function room furniture and offices. ((This would need to be owned outside any pension fund.)
• the commercial investment is suitable as an approved UK pension fund investment under the current pension regulations with a major part of the legal work already completed
• details of the apartment Sauvignon, fully described and photographed here

Vente Cave La Redorte. Download (new window, PDF, 488KB)

Promobatisse valuation report dated April 2005. This is a full valuation report including drawings. Download (new window, PDF, 7,698KB)

Valuation report on the Apartment Sauvignon with drawings. There are separate pictures taken of the apartment below. Please note that there is possibly scope to purchase a further section of La Bâtisse below and behind Apartment Sauvignon to convert into apartments and extend the Cave (refer to the drawings). Download (new window, PDF, 4,654KB)

Valuation report on SARL Cavadan (trading Crossroads) - this is the trading company running the function room, bars and restaurant. Download (new window, PDF, 2,013KB)

Valuation report on the Gillak offices with drawings. Only photographs located are from the outside. Download (new window, PDF, 2,515KB)

Layouts of Apartment Sauvignon and La Bâtisse Download (new window, PDF, 141KB)

Layouts of the Cave and office volumes Download (new window, PDF, 714KB)

Please contact Andrew Lakeman for further information.