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Bargain property in France! - 2 October 2009

Those dreaming of owning a property in the south of France will be hunting around at the back of the sofa for any spare change they can find as news breaks of the latest bargain property to hit the market. Located just outside the celebrity playground of Cannes, this little hideaway in the sun can yours for just…€180,000,005.

Yes, I’m afraid you did read that right, for some bizarre reason the Florentine-style villa is reportedly being listed for the princely sum of just over €180 million. Just in case you wanted to ring the bank now and get them to start transferring the funds that comes to around £164,549,000. This is a truly staggering amount of money for a property, and yet once one begins to look at the details, there is a certain logic to the price.

Set in an unrivalled location in the area, the property dominates the Boulevard Leader part of Cannes, and has about 11 hectares of landscaped parkland. Again, this could be considered a small plot for the huge sums of money involved, but when the sheer lack of land available in this part of France, the price begins to make more sense. Other features of the property include 16 bedrooms, winter garden sculptures, waterfalls, water jets, a huge swimming pool with pool house and unbroken views of the sea.

News of the sale comes from the sources of US celebrity real estate blogger The Real Estalker, who have also been able to uncover something of the colourful past of the property. The current owner is unknown, but the property was almost certainly once home to Adnan Khashoggi, the notorious Saudi arms dealer and sometime publicity-seeker. It is unclear whether the property is still owned by Mr. Khashoggi, or if it was sold some years ago.

What is sure is that the purchaser of the property known as La Croix-des-Gardes will get the utmost in real estate luxury. Other features of the property include a lift, wine cellars (this is France after all) and a 6-car garage. In addition to the main house there is a four-bedroom guest pavilion, a two-bedroom gardener’s accommodation and a studio flat, just in case you run out of bedrooms for all of the friends you will suddenly acquire when you move in. Oh, and just in case you get sick of your new friends, there is a security gate house, an armoured door and, as The Real Estalker puts it, an alarm system that probably rivals that of Fort Knox…

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