18 Hole, Par 72 Golf Course, 70-Key Hotel Plus 95 Residences, Cote d’Azur France For Sale €67m
Name: TBA
Guide Price: €67m
No. of Keys: Hotel Built and Ready to Open – 70 Keys and 90 Residences
The Opportunity: To acquire this prime location property, within an estate of 66 hectares of beautiful grounds. Right now there is a private membership 18-hole, par 72, golf course with club house, shop and golf academy, which is recognized as one of the finest in the South of France. The fairways which cross a forest of oaks, pines and brooms, offer superb views over the bay of Cannes, the Lérins Islands and the Esterel Massif.
The golf-club restaurant
At present, only the golf course is open, generating an annual revenue of around €750k with approximately 450 member. The annual memberships have no ownership entitlements.
A newly built luxury hotel, designed by Wilmotte & Associés, with approximately 70 keys and comprehensive facilities such as restaurants, spa and meeting rooms is ready for operation. The hotel and spa are fully fitted out, including the HOE&S. It has not been in operation at all, as the current owners intend to leave it with the buyer to decide on the management arrangement.
Some of the best international hotel companies have expressed an interest to manage the hotel and the residences under one of their upscale brands.
The 95 residences have been completed and can be sold to individual buyers, and if desired by the new owner, be part of the hotel facilities through a sale-and-lease-back arrangement. Finishing: bare floors and walls without any interior fit-out.
Additional villas on an area of around 3,000 sqm can be built on the south ridge, offering a wonderful view of the Cote d’Azur and the Mediterranean Sea. The necessary permit is in place. The Municipality of Grasse is very supportive of the project, including the construction of further facilities, including tennis courts, equestrian centre and others.
What makes the project interesting is the creation of a destination that includes hotels, residences, wellness, seminar facilities, and leisure facilities – golf, tennis, equestrian. The golf course itself is an added value but is not the key business driver. The fact that there is no hotel of international quality in Grasse represents a unique opportunity for a company that intends to own/manage a destination resort.
The French Riviera is undoubtedly one of the most charming areas in Europe. A health
retreat in the 18th century, the area later attracted aristocrats, artists and the 1960s “jet set”. With 90 million annual tourist arrivals, France is according to the United Nations World Tourism Organisation the most popular destination globally, with Paris and the South of France being the main attractions.
The most famous and scenic towns are Monaco, Nice, Antibes, Cannes, St. Tropez and Grasse, the world’s perfume capital.
Enjoying an elevated location overlooking the fabled Côte d’Azur, in close proximity to Grasse,
Cannes and Nice is the stunning, privately owned estate. The topography allows a wonderful
micro-climate for summers to be pleasingly warm with a constant gentle breeze, and winters to be pleasantly cool.
The estate can conveniently be reached by road from Cannes, Nice and Grasse with access by helicopter transfers from both nearby airports.
Main Picture: The view from the golf course