You want Invest in real estatelove challenges and have a little (a lot!) Of money? So, this sale may be for you! On September 29, the agency for the management and collection of seized and confiscated assets (AGRASC) will put auction, at the price of 4.7 million euros, An imposing real estate ensemble of almost 1,800 square meters, located on the cornice of President John Fitzgerald Kennedy, between the beach of the Catalans and the Prado, in the 7th arrondissement of Marseille.
An original good in more ways than one. First peculiarity, it was seized by AGRASC as part of the Marseille component of VAT fraud on carbon quotas, a component which cost the State 385 million euros in 2008 and 2009. Built in the 1990s in place of an old piano bar, this real estate set on five levels first had a vocation as a medical center before obtaining, in 2009, construction of 11 luxury dwellings.
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Two options for the future buyer
In 2016, another building permit was issued for the creation of three additional dwellings but, and this is the second originality of the good, “”No completion declaration and compliance of the work (DAACCT) has not been transmitted to date ”notes the company AGORASTORE, in charge of the auction on behalf of AGRASC. A declaration of site opening was however filed on March 6, 2019.
Future buyer, two options open to you. Either you complete the transformation of former activity premises into housing, as planned by the 2016 building permit, and place a DAACCT. Either you submit a new building permit application, for a different project. The first option is “Less legally risky, the initial project having been validated by the administration, and requires less administrative complexity”, AGORASTORE breath. The second option, however, allows the buyer to adapt the property “To his needs”recognizes society.
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An acquisition to be paid cash
A buyer “Invited to formulate its financial offer knowing these elements, an a posteriori renegotiation not being possible”, warns Agorastore. And, due to the technical and administrative complexities of the sale, “”No suspensive condition will not be allowed “warns the company. Clearly, do not expect to finance this acquisition by a loan, it will be necessary to settle it entirely on your personal funds!
You should also know that these 1,800 square meters have a final specificity: they are not provided with a heating installation. Therefore, the diagnosis of energy performance (DPE) is not available. Too bad, at a time when the “green value” of real estate has an increasing importance. Question served, numbers 395 and 395 bis, promenade de la Corniche, however benefit “Good accessibility, with the departmental road and bus stops nearby”underlines Agorastore. You have a little more than two months of reflection.
