Les Praz is recognised as being the prime high end residential property area of Chamonix. With all ski lifts being within a two to five minute drive and the Golf Club and La Flegere within a five minute driving distance, its appeal is as a year round destination.
Set in two hectares of land, it is situated in a particularly quiet residential area and offers, literally, quite staggering views. This area has proven particularly attractive to a substantial number of foreign buyers seeking a location with year round sporting opportunities - including skiing and golf - very close to the central Chamonix with its myriad of attractions. Overseas buyers tend to be Northern European with the largest proportion being British.
Chamonix itself is of course a major year round attraction. As one of the oldest Alpine resorts it was first 'discovered' as a destination in the early 18th century. With its location just one hour's drive from Geneva Airport it is easily accessed and regular shuttle services provide speedy and cost effective links - of particular interest to those who seek to use their apartments for long weekends and short breaks especially during the skiing season.
This ease of access also underlines its appeal for holidaymakers including those seeking rental apartments.
The skiing itself is of exceptional quality, providing access to some of the most technical and challenging terrain in the world including, of course, Western Europe's highest peak - Mt Blanc.
The town itself retains its charm, with strict planning criteria, the town council is emphatic about the need to restrict new development - particularly of the ugly utilitarian style which can predominate in other resorts.
As well as the widest range of daytime skiing options Chamonix is renowned for its shopping (with high end retail) and apres ski activities.
Chamonix has year round appeal for both visitors and residents alike with many summer sporting and other activities on offer. Here the Alps can be seen from their most dramatic viewpoint - and La Cordée is in the enviable position of providing a 360 degree panorama over the mountain.
As hub of the Savoie region, Chamonix's infrastructure, its activities and year-round season have strong appeal to both tourists and foreign homeowners. With current low mortgage rates in France, the weaker euro, as well as security of purchasing in a market with international appeal, prove attractive to purchasers who tend to be drawn from the United Kingdom, Switzerland, Italy and Scandinavia. There is also increasing demand for accommodation at this resort.
Despite the overall downturn in French regional residential property in recent years - which appears to have bottomed out - the Chamonix market has proven resilient and has to a greater extent withstood any negative price trend.
Average sale prices for other apartments in this area tend to be currently set between €7,750 - €9,950/m², while chalets are set between €9,700 and €12,700/m².
The developers at Les Praz have set their price structure to be both highly competitive and as one of the more affordable options for this type of quality development in a highly sought after residential area.
Prices for the apartments and penthouses vary on their specific location within the resort and the views available and range between €7,000/ m² and €10,000/m².
The complex will be managed by Chamonix All Year, a locally based company with vast experience in providing a rental management service and bespoke valet service as required.
La Cordée comprises a total of 80 high specification freehold apartments and penthouses. It is to be constructed in two stages utilising the footprint and shell of an existing property located in Les Praz de Chamonix. This is Chamonix' most exclusive property area and, due to strict local planning restrictions, it will provide the only new high end quality stock of this type available in this location.
The development comprises a complete retrofit using the footprint of an existing 125 residential apartment hotel. Works will be spread over a three year period undertaken during in 2016 to 2018 and in two stages.
A variety of differently size apartments, duplex and penthouses are being created ranging from one bedroom apartments to six bedroom penthouses with private lift access. The first phase, due for completion by the end of 2017, comprises 50 apartments, the second, which will see construction of the final 30 units, is scheduled to be concluded by the end of 2018.
Construction works commence in April 2016.
The development will be spread over eight separate buildings in La Cordée. The two hectare site includes its own small lake. In this location unrestricted 360 degree views are afforded of the mountain scape which surrounds the valley including, of course, Mt Blanc.
Apartments will be available in one, two and three bedroom configurations as well as a number of exclusive penthouses. They will be freehold.
In addition the development includes:
Extensive underground parking and allocated storage space and ski-box
Swimming pool, well-being centre with sauna, hamman and bar with entertainment area
Responding to market demand, purchasers will be afforded choice of finishes. Interior furnishing does not form part of the package enabling owners the opportunity to retain their individuality by decorating and furnishing to their own taste.
Les Praz de Chamonix
74400 Chamonix Mont Blanc
Tel: 03339 392030
London-based Patron Capital Partners was established in 1999 and has become one of the leading opportunistic real estate managers in Europe.
Since its foundation, it has been responsible for assets involving over 65 million square feet in 13 different countries. It represents approximately €2.8 billion of equity over various funds and related investments.
Redevelopment works will be undertaken by Patron's local partner, Cardea Property Invest, who are highly experienced local developers. The two companies have an already existing good working development relationship in Chamonix.
Marketing of this prestigious development is being undertaken by award winning Leggett Immobilier, one of France's leading real estate agencies.
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