This document outlines a concept for private co-ownership of a vacation home in Provence, France. It describes assembling a group of 8 co-owners who each pay 165,000 euros to purchase shares of a renovated property. France Fractional Invest would take on tasks like finding the property, renovations, hiring staff, and property management. Owners would receive 6 weeks of use per year. The concept aims to provide the luxury of a second home at a fraction of the full purchase price, without the hassles of sole ownership.

1. PRIVATE
CO-OWNERSHIP
IN PROVENCE
09/2009 Luxury vacation home at a fraction of the cost
PRESENTED BY FRANCE FRACTIONAL INVEST
Private co-ownership is the opportunity to develop your own fractional ownership
property – without using a developer. This is a property concept. We provide
every element of the second (or third) home you have always dreamed of
owning, in one of the world's most fabulous regions, without the months or years of
effort it would take to create it yourself, at a fraction of the cost of owning it in its
entirety. We take on the developer’s role on your behalf: we assemble a group
of 8 like-minded co-owners, find the property, renovate it and organize
everything until you can move in. We also hire your staff for you, and run the
house – when you are away, and even when you’re there. You are in control.
Contact: Pierre Guillery +33 (0)6 8434 8992
Mail: pguillery@francefractionalinvest.com
The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer
to buy any securities in any jurisdiction in which such distribution or offer is not authorized. In particular, the
information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to
buy any securities in the United States of America or to or for the benefit of any US Person as such term is
defined under the United States Securities Act of 1933, as amended.

2. © Pierre Guillery/FFI 09/2009
Takeaway
If you have been IN THIS DOCUMENT
considering buying a
house in the South of Understand the concept Page 3
France for a long time,
Discover the region Page 8
but haven’t
transformed the dream Find out about the property Page 11
into reality yet – this
Review the financials Page 14
may be what you are
Illustrative purpose looking for. Follow the process Page 16
THE CONCEPT ABOUT YOU
You all know about fractional ownership – often We believe that this offer is most ideally suited
described as “luxury second home without the for 45/65 yr-old Francophile professionals or
hassle.” Private co-ownership is the opportunity entrepreneurs, financially secure, with a taste for
to develop your own fractional ownership good service, possibly already owner of a
property – without using a developer. second home in North America, and who have
long considered buying a property in Provence
This is a property concept. We take on the – but have never fulfilled their ambition.
developer’s role for you: we assemble a group
of 8 like-minded co-owners, find the property,
renovate it and organize everything until you UZÈGE, PROVENCE
can move in. We also hire your staff for you, Often called "little Tuscany" for its vineyards
and run the house – when you are away, and separated by dark cypresses, village squares,
even when you’re there. country mansions, culture, and its Renaissance
buildings, the Uzège is a preserved corner of
Building type: 18th or 19th century “mas”; western Europe that has somehow escaped the
Location: Uzège, in Provence; notice of the world's tourist hordes. Here, one
can live in a charming village with stone houses,
Size: 250/350 m² (2,690/3,800 sq.ft); surrounded by vineyards and gentle hills, and
be an hour from the beaches of the
Rooms: 12/15, incl. 4 bedrooms; Mediterranean, skiing (in winter) or hill walking
Amenities: lots of light, splendid views, and canoeing (in summer).
fireplace, balcony, patio, secured storage Rich in architecture and religious history, Uzès
for personal belongings, all the luxurious could be visited over and over again and never
comforts; get old. Besides one of the most beautiful
Co-owners: 8; markets in the South of France, there are
numerous restaurants, wine bars and outdoor
Cost: 165,000€ ($235,600) each; cafés to discover. Uzès lives year round,
buzzing with tourists and locals, including many
Usage: 6 weeks (1 ½ month) per year; ex-pat English and Americans. The small town is
Upkeep fee: 8,400€ ($11,900) per year. the vision people have of the South of France –
and you could be living it.
If you love Provence, we promise you will
love Uzès and everything it has to offer.
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3. © Pierre Guillery/FFI 09/2009
ABOUT THE PROPERTY
The first property identified for this concept is the
Mas André in Gattigues.
Mas André, South facing courtyard
The Mas André is a South facing authentic
(early 19th century) old stone farmhouse located
in Aigaliers, 8 km from Uzès, offering 300 m² 25 km
(3,160 sq.ft) of living area, with 4 bedrooms (2 25 miles
ensuite, including the largest the ground floor),
family room, large kitchen, summer/dining room,
a staff apartment and small outbuildings, sitting
on a 6,400 m² (1.6 acre) walled garden with
banks of olive trees (approx. 80), green oaks
and rose bushes.
FRANCE FRACTIONAL INVEST
This concept is brought to you by France Fractional Led by Pierre Guillery, a US-educated (BSBA, MBA)
Invest (FFI). Using our real estate experience and our fully bilingual 43-year old consultant and entrepreneur,
local contacts, we integrate the best of French design FFI is a real estate consultancy enabling its customers to
with the comforts and conveniences that owners expect. make fractional projects in France happen, and acting
We provide every element of the second or third home on their behalf in a number of capacities, including:
our customers have always dreamed of owning, in one property scout, administrative handler, and project
of the world's most fabulous regions, without the months coordinator. We can also set up and manage the
of effort it would take to create it themselves, at a service firm you will require, including all personnel,
fraction of the cost of owning it themselves. accounting and tax-related issues.
For more information, visit: www.francefractionalinvest.com
Page 2

4. © Pierre Guillery/FFI 09/2009
The concept
You have been considering buying a house in the South of France for a long time. You love Provence, its
olive oil, warm weather and culture, and the fact that it is just a superfast train ride away from Paris or
Barcelona. You have travelled there many times – and you really want to go back. Ideally, you would
happily live in Provence for a month of two each year when you retire. But you haven’t transformed the
dream into reality yet: of course, there is the cost – but also the complication handling by yourself the
purchase and day-to-day management (as well as possible renovation) of a house in a country a day’s travel
away from home – and where they all speak French. Read on: this may be what you are looking for.
PRIVATE CO-OWNERSHIP
Let’s say you decide to The old fashioned way
buy your vacation home in
Provence. In September 2009, the cost of buying a quality
renovated farmhouse in Provence (a “mas”) with
To find the perfect a swimming pool, 250 m² of living area and a
property, you start landscaped garden of half an acre is between
searching the web and 2,500€/m² ($330/sq.ft) in Uzège and
making calls to estate 4,400€/m² ($581/sq.ft) in the Lubéron region –
agents (some will speak from 625,000€ ($889,000) to 1.1m€ ($1.56m).
Illustrative purpose
English, but most won’t). The annual cost of running such a property starts
Y o u n e e d t o o r g a n i ze at 8,000€ ($11,400), including personnel, rates,
inspection visits, to have surveys done for the water, replacement costs.
properties you are interested in – before
any purchase. You also need to check that there There is an alternative
are no plans to build other properties, office or
You all know about fractional ownership1 –
agricultural buildings nearby. The actual
often described as “luxury second home without
contract process is handled by a “notaire”
the hassle.” Private co-ownership is the
(public notary), as they are the only persons
opportunity to develop your own fractional
permitted by law to perform conveyancing in
ownership property – without using a developer.
France. The whole process takes from 4 to 8
months – depending on how much time you have Most fractional property opportunities are
to handle the search, and how quickly you find properties that have been purchased, renovated
the house of your dreams. and decorated by one developer who creates
If you plan some renovations, you need to hire the legal structure and documents, then offers
the contractors and manage them to ensure that the fractional interests for sale. Although they
everything goes as planned. A simple house make a lot a financial sense, these arrangements
“refreshment”, with the addition of a swimming
pool, will take a minimum of a month to 1 Each owner is deeded a fractional real estate interest
complete. Unless you are planning to be there of a specific residence (condo or otherwise). In addition
while the renovation work is going on and you to the cost of their ownership interest (usually between
$100,000 and $600,000), the owner also pays annual
speak fluent French, you should recruit a maintenance costs, based proportionately on ownership
knowledgeable person to oversee the project. (usually 2% and 5% of purchase price). All the other
Finally, you need to organize the year-round related concerns of second home ownership, including
management of your home: find a gardener, a maintenance and furnishing replacements, are left to
the property management company. This type of
maid (when you visit) and a plumber (in case of purchase is for usage periods ranging from 4 to 13
emergencies – whether you are around or not). weeks per year on the property, with the average
high-end fractional stay falling in the 1/7 to 1/8 range.
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5. © Pierre Guillery/FFI 09/2009
are seldom organized by the users themselves – Step-by-step
usually because of the complicated nature of the
work involved. Purchase pool
But we believe that you may want to feel like It all starts with the creation of a group of
the property is really yours – starting from prospective co-owners, the “purchase pool”.
scratch. So we offer to take the burden away Purchase pool members may or may not know
from you: we will “do it all” on your behalf, each other prior to the launch of the project3 – if
under your control. We will help assemble a you don’t have friends interested in the project,
group of 8 like-minded we will find prospective co-owners for you4.
co-owners, find the Each prospective co-owner, as member of the
property, renovate it purchase pool, must be willing to invest the full
and organize everything amount of one of 8 shares to be held in an
until you can move in. escrow account to fund the property search
We will also hire your (when applicable), purchase and renovation5.
staff for you, and run the
house on your behalf – Discovery visit
when you are away, and Illustrative purpose Prior to their committing to the purchase pool,
even when you’re there. we can organize private discovery visits6 for
prospective co-owners. You simply make your
HOW THIS WORKS travel arrangements to get to Paris, and we
We are offering a property concept2: to search, take care of everything else: hotel and
find, renovate, furnish, landscape a property to transportations, restaurants, car rentals, visits –
be shared between a small group of co-owners: both in Paris, and in Provence. We will show you
the region, and a few houses, and introduce our
Building type: 18th or 19th century “mas”; local partners. After this week-long experience,
you should be ready to make the decision to
Location: Uzège, in Provence;
proceed – or not.
Size: 250/350 m² (2,690/3,800 sq.ft);
Property search
Rooms: 12/15, incl. 4 bedrooms; For this project,
the property has
Amenities: lots of light, splendid views,
been identified in
fireplace, balcony, patio, secured
advance. In other
storage for personal belongings, all top
cases, the search
quality kitchen and bath fixtures, all the
will commence
luxurious comforts; Illustrative purpose
upon commitment
Number of co-owners: 8; in writing of all pool members, and receipt of
deposit funds (10% of share cost) from all
Cost: 165,000€ ($235,600) each; members of the purchase pool with an agreed
Usage: 6 weeks (1 ½ month) per year;
3 Contrary to what you might think, groups of complete
Upkeep fee: 8,400€ ($11,900) per year.
strangers who come together through such a packaged
offering are often more successful at co-owning and
managing the shared property than groups of friends
or family members!
4 However, recruiting pool members yourself will help
you reduce the cost of your own share. See “Process”
for details.
2 This concept has been pioneered by Adrian Leeds, 5 See section “Process” for details.
whom you should contact if you wish to design your own 6 All inclusive cost: from 3,500€ ($4,990) for one
fractional apartment in Paris (www.adrianleeds.com). person, excluding USA/France round trip.
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6. © Pierre Guillery/FFI 09/2009
upon allowance for a minimum of 90 days to
locate the property7. WHY THIS MAKES SENSE
Upon location of a property that fits the A fraction of the price
specified parameters, a memo with photos and
The share cost is 165,000€ – a big difference
description of the property (already
from the whole ownership price of around
incorporated in this document – “The
€650,000 for a comparable property with a
Property”) will be sent to all members who may
similar location and amenities – and with no
decide at that time to approve or decline the
management or concierge services. Why pay
property in a timely manner – within 48 hours of
for year-round use of a vacation home you’ll
receipt of the memo. The purchase process is
only use a few weeks of the year? Also, you
enabled to proceed when the group which is
avoid the time, effort and difficulty of outfitting
able to approve the found property, with a
the property, creating the legal structure and
combined total of 1.344m€.
assembling the owner group.
Purchase and renovation
No hassles
Under the control of their respective lawyers,
members of the purchase pool will provide It is bad enough when you need to do
proxy to France Fractional Invest to sign notarial renovations on your property back home...
documents on their behalf (“Promesse de Vente” imagine what it must be like to supervise a job
and “Acte de Vente”). Allow 3 to 4 months to long-distance, in a fairly difficult work
completion. environment such as France. Then there's the
management aspect: you need the assurance
Three decor that you will not have to worry about mowing
concepts that fit the lawn or paying the taxes.
within the
renovation budget Every time you come to Provence, you know just
will be presented where you’re going to stay – you never have to
to the purchase call another hotel or rental agency again. When
pool for voting an you arrive we arrange for airport pickup, the
Illustrative purpose
one will be mas is sparkling clean, and your fridge is
executed by the interior architect and stocked with groceries. During your stay, we
construction team. Any choices made by the provide complete concierge services, handling
purchase pool outside the framework of the restaurant reservations, golf tee times, and
budget will be charged over and above the theatre tickets. When you leave, you don't have
initial fees. Allow 4 to 6 months to completion. to worry about cleaning, or about paying bills,
or fixing a leak. You just pack and leave. We
Members of the purchase pool may choose to take care of the rest.
appoint one spokesperson
for the purchase pool to No reason to rent
make day-to-day decisions
A typical vacation home owner has the choice
and act as a "liaison"
between leaving the property vacant when it is
between all members of
not being used, or renting it out to cover some
the purchase pool.
running costs – which (as anyone who has been
involved in vacation rental knows) has significant
downsides. As a co-owner, the lower cost of
buying into the property means that you won’t
even have to consider this option.
7 See section “Process” for details.
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7. © Pierre Guillery/FFI 09/2009
KEY POINTS Specifically, each co-owner will have a fixed
two-week block of usage each year, with the
Legal structure 8 other 2 two-week blocks organized on a
rotating basis, with a system in place to enable
Each co-owner is a shareholder in an US-based co-owners to easily “swap periods” at will.
company, which in turn holds all the shares in a
French real estate entity, called a société civile Also, being part of the co-owners association’s
immobilière, or SCI. This double company bylaws, the usage system will be “modifiable”
structure is set up in order to ensure the simplest by the co-owners collectively if/when the
and most transparent ownership structure for the choose.
property, as well as to make shares easily
transferable without disrupting the underlying Management and upkeep
ownership structure of the property. The property will be managed by a staff of two
living on the premises – with gardening,
This ownership maintenance and hosting responsibilities. This
structure means “duo” will be expected to be bilingual
that each co- French/English, with some US/international
owner avoids the experience in order to facilitate the cultural
tax filing and interaction with the North American co-owners.
Illustrative purpose
other formalities We will ourselves manage the staff and handle
that usually come along with owning property in the overall financial management of the
France. All French taxes and legal requirements property.
are paid by the SCI, a process entirely
managed on behalf of the owners so that they At the end of each year, we will present an
have no confusing foreign documents or estimate of all of the expenses for the following
responsibilities to manage. Each owner will year, and determine the amount that will be
receive a concise tax statement for their portion needed from each co-owner to pay the bills.
of income and expenses, which you can include Co-owners will be required to approve the
in your personal income tax statements9. accounts and the projections. The anticipated
expenses should include some reserves for long-
Usage term recurring expenses such as painting,
roofing, system upkeep, and furniture and
As the most important element of a vacation
houseware replacement.
home sharing arrangement is the usage
structure, the property has a permanent usage The amount required from each co-owner will be
structure so that each co-owner can be certain of divided into equal monthly or quarterly
his/her usage rights well in advance to allow payments, and each owner will be required to
plenty of time for planning. contribute his/her payment on schedule. In this
way, each co-owner knows with a fairly high
degree of precision what will be expected of
him/her in the coming year.
8 The customized legal structure will be designed by
Andrew Sirkin, the recognized real estate co-
ownership legal expert, both in France and in the
United-States (www.andysirkin.com).
9 We strongly suggest that each prospective co-owner
obtains individual tax advice on their own, to
understand the possible tax benefits or liabilities in light
of their personal tax situation and planned usage of the
property.
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8. © Pierre Guillery/FFI 09/2009
SPECIAL TREATS
Your own olive oil
Make your own olive oil from
the 80 olive trees of the
property10 – with the help of a
local farmer and the
cooperative. Each year in
November, you can assist in
the harvest and the following
spring, you can send “virgin
olive oil” bottles to your
friends and family!
Cookery workshops
Learn French
cuisine, the
“provençal way”
with truffles - in
your own kitchen!
Each year or on
demand we will
organize private
cookery sessions for
you and your guests. Seasonally fresh
ingredients, your own Chef teacher, - you taste
all the dishes at the end of the session. Also
possible: excursions to the neighboring Cotes du
Rhône wines cellars and wine tastings.
10At the Mas André, over 300 liters of oil can be
expected from the 80 trees producing 20 kg each.
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9. © Pierre Guillery/FFI 09/2009
Discover Uzège
THE “OTHER” PROVENCE
Often called "little Tuscany" for its vineyards one of the best open-air markets in all of
separated by dark cypresses, village squares, Provence, a bit of a time capsule with lofty
country mansions, culture, and its Renaissance towers and narrow streets.
buildings, the Uzège (350 sq.miles around Uzès,
just West of the Avignon and the Rhone, and There’s a touch
North of Nîmes) is a preserved corner of of Saint-Rémy
western Europe that has somehow escaped the de Provence
notice of the world's tourist hordes. Here, one about Uzès,
can live in a beautiful charming village with with Latin
stone houses, surrounded by vineyards and grace and
gentle hills, and be an hour from the beaches of perhaps an
the Mediterranean in the south, an hour from extra touch
skiing (in winter) or hill walking and canoeing (in of intimacy and authenticity. The same circular
summer) in the north, and less than an hour from boulevard, the same bubbling fountains, and the
Nîmes, Avignon and Montpellier theatre, cinema, same unbridled heritage. A walk round Uzès
restaurants and life. begins with a circuit of the old centre, with its
pedestrian streets, “trendy” shops and
At the same time in Provence and in Languedoc, architectural treasures, such as the Château des
the Uzège region has a number of terroirs in Ducs d’Uzès, a private property but open to
which wonderful, distinctive goods such as olives, visitors (owned by De Crussol d’Uzès family who
apricots, wine, cherries, peaches and truffles are have been living there, on and off, for more
produced: gourmet treasures that you can find in than 1,000 years), the Saint-Théodorit
the fourteen surrounding villages, which in recent Cathedral and the Fenestrelle Tower, with its
years have been adopted by Parisians. Because similarities to the Tower of Pisa, the magnificent
it’s the done thing to be seen in Uzès! In summer, private mansions that were homes to the Baron
this New Lubéron takes on a somewhat foreign de Castille and Chambon de la Tour, and also the
accent: an invigorating breath of fresh air that Place aux Herbes, the town’s epicenter, with its
plays its part in the incomparable charm of this lovely arcades and café terraces, where the
city of the Dukes. weekly market that takes place on Saturdays.
A jewel of a town
Centuries old and
completely restored,
Uzès (pop. 8,000)
has retained an
architectural heritage The city centre is listed as a protected historical
that spreads over a sector (the largest in France). The very powerful
landscape dotted Ducs d’Uzès were the first dukes of France and
with villages and the town was the seat of a diocese until the
planted with fruit Revolution and marked by the Wars of Religion,
trees, vines and but it was little affected (if at all) by the
truffle oaks. It is a Industrial Revolution. It has since preserved its
jewel of a town with glorious heritage.
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10. © Pierre Guillery/FFI 09/2009
could not possibly be considered as anything
GEOGRAPHY, CLIMATE & FOOD less than a Provencal writer!
Where the mistral rules 250 days of sun
Most books on Provence include Uzès, at the The Uzège (also called “Gard Provençal”) boasts
Western edge of the first ‘province’ of the a Mediterranean climate, with typical south
Roman Empire outside Italy, in an area where European vegetation with olive trees, vineyards,
many remains of the Empire can be found palm trees, garrigue scrublands, fig trees, apricot
(including amphitheatres at Nîmes, the Roman and cherry trees.
aqueduct known as the Pont du Gard, and
numerous roads). However since 1972 France It gets 250 to 300 days of sun a year, and
has been divided in 22 regions, with the Gard temperatures reach 40°C (104° F) in the summer
department (where Uzès can be found) now and average lows of 3-5°C (37.4 or 41° F)
officially part of Languedoc Roussillon – just during the winter. Winter is short, only lasting for
outside of the “official" Provence-Alpes-Cotes a couple of months before temperatures start to
d’Azur, an administrative region comprising five warm up again around February. Summer starts
départements stretching from the Rhone River to around May with midday temperatures in the mid
the Alps and Italy. twenties (25°C or 77°F). Warm weather extends
through much of October.
Provence cuisine
Every Saturday in Uzès one can enjoy the smell
of Provence at the farmers market where local
producers offer stands of various products such
as olive oil, local wines, goat cheeses, fresh
organic poultries,
sausages and
Illustrative purpose
meats from the
In truth, Provence is largely an intellectual and Cévennes, herbs
emotional concept – although it is often from Provence and
perceived as a “single and indivisible lavender.
phenomenon”, a bucolic land of lavender fields
and fortified hilltop villages. Its borders have
long been disputed, not least by the Provencaux Each January, Uzès welcomes a truffle market
themselves. Frédéric Mistral, 1904 Nobel Prize where producers and chefs meet to admire and
winner, the poet who was instrumental in buy the dark diamond. Uzès cuisine carries the
reviving the lost Provencal tongue and who flavor of its terroir products, the colors of
attracted international attention to his cause, Languedoc and a distinct Provencal accent, with
said that: “Wherever the mistral rules, you are in the truffle as a base in winter, the asparagus in
Provence” and “It was the Rhone that made spring and the melon in summer. The olive (and
Provence in concert with the wind. Right bank, left its oil) nevertheless remains one of the mainstays
bank, kingdom, empire, all are Provence.” of the meal, whether it's the picholine or the
Because if its borders are drawn by the colliasse named after the village near Uzès. The
language, they are also dictated by the specialties: brouillade de truffes (truffle
prevailing wind: the mistral. The infamous wind, scramble), friand aux olives et pélardons (pastry
with which the poet shared his name, does not with olives and pélardons), numerous dishes with
blow on the Riviera (and so excludes this an asparagus base. Nearby is the Côtes-du-
celebrated coastline from Mistral's definition) Rhone wine region as well as the village of
but blows in the Roman towns of Nîmes and Tavel, famous for its renowned rosé wine.
Uzès. What is more, Nîmes was the birthplace of
Mistral’s great friend, Alphonse Daudet, who
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11. © Pierre Guillery/FFI 09/2009
Tasting around the vineyards terrain traditionally farmed, and horses have
become part of the culture and way of life
Vineyards and olive groves have been present
celebrated there. Inland, at the northern tip of
on the sunny slopes of the Uzège area for over
the Gard, are wilder and more remote mountain
2,000 years. Wine making remains a very
ranges of the Cévennes.
important activity – with ever improving quality
levels. The Vin de Pays Duché d’Uzès label Languedoc Roussillon
was established in 1989 – and the producers’ is home to one of
syndicate have applied for an international France's most
recognized “Appellation d’Origine Controlée dynamic cities,
(AOC) label. Montpellier (pop.
400,000), which has
Uzège borders the part of the
the world's oldest
Rhône Valley where vineyards
continuously operating university. The cities of
predominate and the famous
Nîmes and Narbonne wear their long history
wine of la Côte du Rhône was
comfortably while retaining a typically southern,
born. It was shipped from the
relaxed ambience. Carcassonne combines its
Port of Roquemaure to faraway
workaday lower town with the medieval Cité,
destinations. Today it is home of
and further south is Perpignan, the capital of
famous AOC wines: Côtes du
French Catalonia, one of the most pleasing cities
Rhône, Côtes du Rhône Villages,
in which to amble about.
and the crus of Lirac and Tavel.
Wandering across the sun-
drenched landscapes, you will discover
vineyard-covered plains, the oppidum of
Caesar's camp, as well as numerous
Romanesque chapels, medieval sites, and
picturesque villages.
Camargue by the sea
Administratively, the
Uzège is part of the
Gard, a most
varied département
with distinct
geographical and
cultural differences,
which is flatter, marshier, rice is grown, bulls are
lies at the northern tip of Languedoc region. In
the south are the Grau du Roi, with nearby La
Grande Motte, large bustling
Mediterranean seaside tourist resorts in the
summer, (the largest marina in Europe) and the
Camargue wetlands, which spread into the
Bouches-du-Rhône in the east. There the
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12. © Pierre Guillery/FFI 09/2009
The property
THE VILLAGE
Aigaliers (population 390) is a typical Uzège Also, as it's important to be able to escape "to"
village, 8 km (10 mn) away from Uzès, the city too, the area is within easy reach of
comprising 11 hamlets: Aigaliers, Le Chabian, Nimes, Avignon, Montpellier and Marseille - with
Domaine de Bruyès, Bourdiguet, Marignac, La Lyon in the North, and the Spanish border in the
Bruyerette, Champ de baumes, Foussargues, South only 3 hours away – via:
Mas Pontier and Gattigues – where the
property is located. • Motorways (Paris/Spain/Italy) in
Remoulins (25 mn), or Nîmes (35 mn);
• TGV stations (300kmph/186mph high
speed train) in Avignon (45 mn) and
Nîmes (50 mn);
• Int’l airports: Nîmes-Arles (45 mn),
Montpellier (70mn), Marseille (11/2 hour).
Itineraries
The village boasts the ruins of 13th century • From New York, Toronto or Los
castle, a restored 11th century church in Angeles: fly to France (13 hours from LA,
Gattigues (walking distance from the property) 8 hours from NY) and you land in the
– as well as its own village restaurant, luxury early morning. You can either stay for a
bed & breakfasts11 and easy access to day in Paris or head South immediately
supermarkets (8 mn). (70 mn by plane, or 21/2 hours by high
speed train - recommended) - all in all, a
Just an hour from anywhere full one day trip;
Although protected from the crowds, Uzège is • From London: the more comfortable
just an hour's drive from all major option is the high speed train (8 hours
transportations. from St Pancras), or you can fly into the
two main regional airports (3 hours).
Alternatively you can drive down, but
that's a 12-hour adventure.
THE MAS
The Mas André is a South facing authentic
(early 19th century) old stone farmhouse offering
300 m² (3,160 sq.ft) of living area, with 4
bedrooms (2 ensuite, including the largest the
ground floor), family room, large kitchen,
summer/dining room, a staff apartment and
small outbuildings, sitting on a 6,400 m² (1.6
acre) walled garden with banks of olive trees
(approx. 80), green oaks and rose bushes.
25 km
25 miles
Left uninhabited for the last 15 years, the
building is sound but in need of renovation.
11 Such as Les sardines aux yeux bleux. Visit their
site : www.les-sardines.com
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13. © Pierre Guillery/FFI 09/2009
Mas André in Gattigues
Village restaurant The road to Uzès
South facing courtyard Disused well
Door to the olive garden In the shade…
South view
Gattigues
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14. © Pierre Guillery/FFI 09/2009
…/continued
Welcome Garden entrance with 80-year old cypress
Vaulted kitchen Walled banks and olive trees
Upstairs terrace Entrance hall
South facing courtyard
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15. © Pierre Guillery/FFI 09/2009
Floor plans
Second floor
Ground floor
Third floor
South elevation
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16. © Pierre Guillery/FFI 09/2009
Financials
RATIONALE
The per-share cost is computed in the most Cost breakdown:
straight forward manner: total cost of the
project, divided by the number of shares. In the Property purchase 567,100€
same way, like in any homeowners association, Legal structure set up 17,000€
the annual maintenance fee is projected as the Renovation 218,800€
total annual cost of running the property,
Interior design & furnishing 136,800€
divided up by 8 co-owners.
Exteriors & landscaping 69,000€
PER SHARE COST Architects fees 49,600€
Subject to the finalization of the project Miscellaneous 14,200€
development plan (which will be undertaken Banking 19,400€
under the co-owners’ control once the purchase Coordination 93,700€
pool has been assembled), the proposed share
price is 165,000€ ($235,600). Other investments 30,000€
Automotive 20,000€
Working assumptions: Referral/marketing 80,000€
Purchase: 530,000€ ($757,000) with Total costs 1,315,600€
additional 7% transaction costs;
Cost per 8 shares 164,450€
Renovation: 850€/m² ($113/sq.ft);
Interior design & furnishing: 550€/m² MAINTENANCE FEE
($73/sq.ft); Again, subject to the finalization of the project
development plan (which will be undertaken
Renovated living area: 265 m²;
under the co-owners’ control once the purchase
Landscaping: 12€/m² ($1.6/sq.ft) for pool has been assembled), the annual
2,000 m²; maintenance fee is 8,400€ ($11,900), payable
monthly (700€/$990).
Swimming pool: 20,000€ ($28,600);
Architects fee: 12% of renovation &
landscaping costs;
Coordination fee12: 9% of total project
cost;
Referral & marketing: 10,000€
($14,300) per share;
Illustrative purpose
Banking: 3.5% of project cost;
Miscellaneous: 3% of project cost. Management & service team
The live-in staff takes care of the mas, looks
All the above assumptions are open to discussion after the co-owners, and ensures a 100%
and questioning by prospective co-owners. hassle-free operation.
12 Fee paid to France Fractional Invest
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17. © Pierre Guillery/FFI 09/2009
The bilingual team is composed of: DISCOVERY VISITS
• A handyman: to take care of the estate Discovery visits are made-to-measure “inspection
(including small gardening work), meet the trips” designed to help prospective co-owners
co-owners at the airport, and manage the learn about Uzège, discover the environment,
hired help; the nearby cities (Avignon, Nîmes), visit a few
• A host/hostess: to welcome the co- potential properties, and meet our local
owners, look after their needs, and partners in Uzès.
provide concierge services. Your visit can be customized to your own needs
Maid and gardening service are outsourced; and timeframe. Ideally, the visit lasts 5 days,
and the administration is undertaken by FFI on from a Saturday to a Thursday morning. We
behalf of the co-owners. organize everything on your behalf (car rentals,
1st-class train tickets, restaurants, hotels, visits)
Monthly costs working assumptions: – at a fully inclusive
cost starting from
Staff: 1,340€ ($1,920) base salary, with
760€ ($1,090) a
additional 30% social contributions;
day for a party of 2
House management: 1,350€ ($1,980); (3,800€/$5,550).
Outdoor management: 500€ ($720); The only thing you have to organize yourself is
Management fee: 580€ ($830); the purchase of your round-trip plane ticket
home. Just give us the flight number – and we
Replacement provision: 500€ ($720); will meet you at the airport!
Automotive: 260€ ($380).
Expenditure breakdown:
Salaries 23,800€
Automotive 3,200€
Rates 6,000€
Materials 22,200€
Other 6,000€
Provision for replacement 6,000€
Total annual expenditures 67,200€
Expenditure per 8 co-owner 8,400€
IMPORTANT NOTE
All the cost estimates presented in this document
are preliminary. Please note that:
Purchase pool members have the
opportunity to review all projections
before making a commitment;
We do our utmost to underspend when
doing so is possible without detriment to
quality.
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18. © Pierre Guillery/FFI 09/2009
Process
WHERE TO START?
If you think you might be interested in becoming
a co-owner, you need to make sure you BECOME A CO-OWNER
understand fully the proposed model – and that Once you have made the decision to join the
this model can truly fit your needs. purchase pool, you are ready to make a
commitment and run with it – in a in a step-by-
Confirm this is right for you step way:
First, you should call Pierre Guillery in Paris to
Month 1 – commitment: you ask your
ascertain that everything about the concept is
lawyer to notify the project notaire of
clear to you. Ask all the questions that come to
your commitment, and once the
your mind. Don’t hesitate; spend all the time that
paperwork is taken care of, you wire
is necessary; call again and ask other questions
10% of the share cost to the notaire’
– or the same13. Next, you should talk to your
account (the deposit). This money is used
lawyer to ensure that the proposed legal
to pay for the services required to set up
structure meets your specific circumstances.
the legal structure, some of the
coordination fee, and the organization of
COME & VISIT the purchase pool (recruitment of 7
additional members);
If you are interested in
our concept, you may Month 3 – purchase: once the choice of
know the area already. the property has been confirmed by all 8
But, as Uzège is bit co-owners, you approve it and wire 40%
outside of the “most of the share cost to the notaire’ account to
travelled” roads – you cover the purchase cost (including legal
may not. That’s why we fees and taxes). Allow 4 months for
suggest you should completion of the purchase;
organize a discovery
Illustrative purpose
visit. Month 7 – renovation: following the
closing of the purchase, the contractors
During that visit, whether it takes place in selected during the previous 2 months
January or in June, we guarantee that you will (after the design have been approved by
enjoy the smells of the region, discover the city the co-owners) move in – and you wire
of Uzès and visit the Mas André in Gattigues. 30% of the share cost to the notaire’
But you will also have the opportunity to meet account;
our local partners, including the French “notaire”
who will handle the sale, and the US lawyer who Month 11 – completion: once the
will design the legal structure for the property. renovation works have been completed,
you and your co-owners sign off the
project, and you wire the remaining 20%
of the share cost to the notaire’ account.
13Get in touch on +33 6 84 34 89 92 – and please
don’t forget the time difference!
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19. © Pierre Guillery/FFI 09/2009
Get-out options Bring in friends & save
Once you have committed to the purchase pool, The cost structure includes 10,000€ per co-
you have 30 days to change your mind – if you owner (80,000€ in total) to account for the
do so, you will be refunded 40% of your recruitment of the purchase pool members. The
deposit. assumption is that this money will be used to
compensate referral agents – people who help
Also, you may get out of the agreement if the recruit co-owners.
purchase pool has not been finalized 120 days
after you have made your commitment – if you Obviously if you, as a co-owner, can convince
do so, you will be refunded 80% of your some of your contacts and friends to join the
deposit. purchase pool, you will be entitled to the same
“compensation”. In other words, for each new
Become the project leader pool member you bring, the cost of your share
Should you want to choose the usage periods will be reduced by the aforementioned
over other co-owners14, you can “choose your 10,000€. Hence, in theory, if you recruit 7 co-
priority” by becoming the project leader. owners, you can reduce the cost of your own
share to 95,000€.
To become the project leader, you need to
commit the money required for the purchase of OUR ROLE
the property – obviously that option is only open
Using our local contacts, we integrate the best of
before the property has been purchased by the
French design with the comforts and
pool.
conveniences that North American owners
To illustrate: in the case of Mas André, should expect. We then create the legal and
you choose to become the pool leader, you management infrastructure for efficient, cost-
would need to put up the full cost of the effective and low-risk fractional ownership.
property (circ. 567,000€) – which you will
recoup later, from other co-owners. In essence,
by doing so, you would “take control” of the
project – and thereby get priority on the usage
scheme.
Resale
It is important to remember that the proposed
concept is not an investment – rather you should In short, we try to provide every element of
treat it as a lifestyle purchase. the second or third home our customers have
However, co-owners may decide collectively to always dreamed of owning, in one of the
sell the property on the open market. Individual world's most fabulous regions, without the
shares (with the attached usage rights and months or years of effort it would take to
upkeep duties) may be sold too, like any create it themselves, at a fraction of the cost
deeded real estate. of owning it themselves.
14 For example: you want to secure your stay during the
full month of July every year.
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