From the Cap to Juan-Les-Pins: a buyer`s guide

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The Daily Telegraph {Property}
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Beauchamp Estates
UK
Saturday 14, May 2016
15
840 sq. cm
ABC 481525 Daily
page rate £46,000.00, scc rate £214.00
020 7931 2000
INTERNATIONAL
From the Cap to
Juan-Les-Pins:
a buyer’s guide
With the Cannes Film Festival in full swing
Liz Rowlinson reviews the Rivieria’s villas
S
urveying the superyachts
and speedboats gliding
across the gulf of Juanles-Pins from one of the
multimillion-pound villas
on Cap d’Antibes, it’s hard
not to feel like a character in The
Great Gatsby. It may be Cannes and
the Estoril mountains that can be
glimpsed from this gilded summer
playground – and not the Long Island
Sound of the 1926 novel – but it is
from such a villa on the Cap that
F Scott Fitzgerald wrote his
bestselling novel after a season spent
in the “hot, sweet south of France”.
The Roaring Twenties was a
golden era for the Cap. In Fitzgerald’s
words it was where “the whole world
descends to forget or rejoice, to hide
its face or have its fling”. Fastforward to 2016 and a constellation
of Hollywood stars have just
descended on the iconic Eden Roc
for the Cannes Film Festival (May 1122) or to one of the pied de l’eau
(waterfront) properties nearby that
can cost €100,000 (£79,000) a
month to rent.
The lustre of a home on this
promontory that hangs like an
anchor in the Med between Nice and
Cannes has not faded over the
decades. Narrow roads wind
between umbrella pines, cypresses
and the high-walled domains of
2,000-odd properties.
Much less dense than the towns of
Antibes and Juan-les-Pins from
which it juts, this protected area of
former rose farms offers its residents
privacy and tranquillity. This,
combined with easy access to both
Nice airport (8½ miles away) and the
bright lights of Cannes, have
combined to make Cap d’Antibes one
of the two most sought-after addresses
on the French Riviera, along with StJean-Cap-Ferrat, which is further
along the coast between Nice and
Monaco. Entry level for a home on Cap
d’Antibes is around €2.3 million
(£1.8m), which will get you a threebedroom Sixties home, according to
Olivier Maugery-Pons of agent Savills.
“On the east side of the Cap where
there are smaller houses, the typical
price range is €3.5m-€7m (£2.75m£5.5m),” he says.
“For the sunnier west side, the
average price is €10m-€12m (£7.9m£9.5m). And prices triple in the most
prestigious of all, Billionaires’ Bay
– also known as l’Anse de l’Argent Faux
(‘bay of false money’) – in the south.” A
property sold there for €180m (£142m)
in 2006 and you will also find the
estates of the Russian oligarchs Roman
Abramovich, Suleiman Kerimov and
Andrey Melnichenko.
Abramovich has renovated the
classical Château de la Croë that was
leased by the Duke and Duchess of
Windsor in the Forties after buying the
three neighbouring properties. Next
door, the glitzy annual parties of the
“Russian Great Gatsby” Kerimov have
featured the singer Beyoncé, while
Melnichenko’s home wedding is
reported to have cost £20m. Other
neighbours are the Heineken family
and the Warner brothers.
The latest Russian buyers have
lower budgets, and prices have
dropped 30 per cent from the market
peak, according to Knight Frank.
“Agents might tell you less, but this is
the difference between prices being
asked and achieved,” says Mark
Harvey of Knight Frank, who adds that
the average value of half-a-dozen sales
in the past three years on Cap
d’Antibes has been €7m (£5.525m).
Alexandra Connolly, a property
consultant (alexandra-lloyd.com),
reports that your money goes 30 per
cent further on Cap d’Antibes than
St-Jean-Cap-Ferrat, but that is not the
only reason to seek one over the other.
“The surrounding area is also the big
distinction, with buyers preferring
Ferrat to be close to Monaco, for
networking, or Antibes and Cannes for
its younger party scene,” she says.
“You’d be shocked at how little you get
for €10m on Cap Ferrat.” Quite.
And for those of us with a mere €1m
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(£790,000) or less? Well, you can get
a small villa in the seaside village of
L’Îlette to the east for €900,000
(£711,000), or a brand new onebedroom apartment for €599,950
(£474,000) on the Parc du Cap
development on the border with
Juan-les-Pins. The Caudwell Group –
set up by Phones4u entrepreneur
John Caudwell – acquired the halfbuilt site two years ago and is nearing
the completion of 88 apartments just
five minutes from the beachfront.
The two-bedroom apartments are
€1.1m (£869,000), three bedrooms
from €2.15m (£1.7m), and penthouses
with private rooftop pools are up to
€7m, and are for sale with Savills.
The other big plus is the level of
amenities owners will have access to:
indoor and outdoor pools, spa, tennis
and 24-hour concierge. “There has
never been a project like this
between Antibes and Nice airport in
terms of quality and facilities,” says
Matthew Murison, the head of the
Caudwell Group’s real estate arm.
“With top security and no upkeep
hassles, this offers a lock-and-leave
property for busy professionals.”
For buy-to-let investors, though,
we are back to Cannes. “Rental
bookings for MIPIM [the property
expo held every March] this year
were at record levels, and we expect
the 2016 film festival will also be a
record-breaker,” says Alice WatsonSmith of Fine & Country. “A wellplaced investment property will rent
for a minimum of five main events
(the film festival, MIPIM, Mipcom,
Cannes Lions and MipTV) as well as
summer holidays.”
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The Daily Telegraph {Property}
Keyword:
Beauchamp Estates
UK
Saturday 14, May 2016
15
840 sq. cm
ABC 481525 Daily
page rate £46,000.00, scc rate £214.00
020 7931 2000
FOR SALE
PENINSULA PRIME SPOTS
Best for
art deco
This fivebedroom villa
with a private
pool sits at the
water’s edge on
the Cap
d’Antibes
Guide price: €8.5m
Agent: Knight Frank
(020 7861 5034;
knightfrank.co.uk)
Best for
location
This twobedroom, twobathroom pad is
close to Cannes’
Croisette
Guide price:
€495,000
Agent: Fine &
Country (+33 925
925 93;
fineandcountry.com)
Best for
modern
A newly built
villa on the east
side of the Cap
with sea views
and four
bedrooms
Guide price: €6.5m
Agent: Beauchamp
Estates (+33 493 45
45; beauchamp.
com)
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copying (including printing of digital cuttings), digital reproduction/forwarding of the cutting is permitted except under licence from the copyright
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357078759 - CRAWRI - B16619-1 - 112618164
Best for
affordability: the
view, main, and
living room, above,
of the new complex
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The Daily Telegraph {Property}
Keyword:
Beauchamp Estates
UK
Saturday 14, May 2016
15
840 sq. cm
ABC 481525 Daily
page rate £46,000.00, scc rate £214.00
020 7931 2000
the Parc de Cap,
from €599,950
through Savills
(020 7016 5034;
savills.com)
1
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copying (including printing of digital cuttings), digital reproduction/forwarding of the cutting is permitted except under licence from the copyright
owner. All FT content is copyright The Financial Times Ltd.
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357078759 - CRAWRI - B16619-1 - 112618164