Les Olivettes

€1,350,000  £1,158,907
Region: Provence
Department: Vaucluse
Location: Lourmarin
Locality: Town
Bedrooms: 6
Bathrooms: 6
W/Cs: 6
Plot Size (m2): 3800
(Area Converter)
Ref No: 176964
Type: Gite/B&B
Year Built: 1970
Floors: 2
Garage Size: 7
Date Added: 28/09/2020
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Les Olivettes offers spacious accommodations in a luxuriously renovated farmhouse in the Luberon. The house comprises four double suites each with a terrace, a large living/dining room with a cathedral ceiling, and a fully-equipped kitchen. All rooms are decorated in traditional Provencal style with a personal twist.

There are approximately 65 mature, fruit-bearing olive trees (max production 700kg/year) landscaped provençal gardens, and a large pool covered with Bisazza tiles. The house was very solidly built in the late 1970's and includes an earthquake belt, a crawl space throughout, and a basement for the furnace and storage.

The lobby (or living area) boats a cathedral ceiling. There are handmade Vernin tiles on the floors throughout, handmade Salernes tiles in the bathrooms, custom marble sink and bath surrounds, cut Dordogne stone around the pool, and custom ironwork around the property.

Les Olivettes has been designed and successfully operated as a Bed & Breakfast over a 20-year period ending 2019 and benefits on average from 4.5-star reviews on TripAdvisor. It is unique among local B&B establishments in that each accommodation includes both a bathroom, a kitchenette, and a private terrace.

The decoration would need to be renewed according to the tastes of new owners, but otherwise, the establishment is a turn-key revenue-generator. The local personnel having operated the business (greeting, cleaning, and maintenance) remain available to any future owner.

There are other business opportunities available for an investor not inclined to operate a B&B. The six autonomous rooms combined with spacious common areas are also well-adapted for a co-living property, in which guests rent the rooms for periods of several weeks to several months. This business model, while generating less revenue, would also involve less work.

1,350,000 Euros (agency fee included)
The price also includes an estimated 45,000 Euros in furnishings.

Surface area and layout:
The total surface area of the land is approximately 3800m2, of which the house occupies 300m2 and the swimming pool 90m2.

Revenue opportunity:
150,000 Euros/year

Annual ownership and operating costs:
Property taxes: €3000/year
Electricity: €2300/year
Water: €600/year
Canal de Provence (pool and garden): €450/year
Heating oil (when full): €3-4,500/year

Outbuildings: Pool house
Home Features: Agency fees included, Air Conditioning, All fees included, Balcony, Broadband, Cable/Satellite TV, Central Heating, Electricity connected, Original Fireplaces, Patio/Deck, Sewage connected, Swimming Pool, Telephone connected, Washer/Dryer, Water connected

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