For sale: a renovated 17th century rental property in the protected area of Pézenas, eligible for tax relief under the Loi Malraux, divided into 14 lots offering a return of 7% gross.

The 17th century building.

This 17th-century building (approx. 790 m2) is located in the town centre, mainly in the conservation area, which means it qualifies for the Malraux Act. The 14 lots are currently let and earn €67,034 per annum, giving a gross yield of 7%. The 14 lots comprise 3 garages, a commercial space, 4 t2s and 6 t3s. A space in the inner courtyard could be converted to create further lots. This 4-storey building has been renovated.

Architecture and history.

The town of Pézenas, halfway between Béziers and the Mediterranean Sea, has ancient origins. Pézenas was founded in the 7th century BC. Under the aegis of the Prince de Conti in the 17th century, the town of Pézenas experienced its most flourishing period and allowed Molière to settle there with his troupe l'Illustre Théatre. The Etats du Languedoc were held several times in Pézenas. In the 18th century, the economy flourished and several town houses were built. Since 2002, the town has been listed as one of France's remarkable sites and towns.

The 17th century building.

Ground floor.

This 17th-century building in the historic, protected centre of Pézenas has been renovated. From the facade, on the right, a passageway leads to a very large inner courtyard. 3 garages are available for rent. The garages range in size from around 15 m2 to around 53 m2. Part of this building in the inner courtyard could be redeveloped to create lots. On the facade, to the right of the passageway, is a commercial space of approximately 70 m2. The entrance door is on the left. The entrance hall has a moulded ceiling with a rose window, letter boxes and a room.

First floor.

A landing room leading to the flats. 3 three-bedroom flats, one of approx. 71 m2, the second of approx. 100 m2 and the third of approx. 76 m2. Two two-bedroom flats of around 31 m2 and 47 m2. All five flats are rented.

Second floor.

A landing room leads to the various flats. 2 three-bedroom flats, one measuring around 95 m2 and the other around 58 m2. Both flats are rented.

Third floor.

A landing room leads to the various flats. 2 two-bedroom flats, one measuring approximately 47 m2 and the other 44 m2. Both flats are rented.

Fourth floor.

A landing room leads to the last flat and the attic. This last flat is rented.

Return on investment.

With rental income to date of €67,034 excluding charges, taking into account the price, agency fees, registration fees and property tax, we obtain a net return of 6.51%. The Malraux tax scheme allows you to benefit from a tax reduction equal to 30% of the amount of future works carried out.

Location

In the centre of Pézenas, this building in the conservation area offers a very attractive return. Motorway access is 2 km away, the international airport is 57 km away and the train station is 1 km away. The town of Pézenas is a much sought-after tourist destination.