Purchase of Prestige Townhouses

A townhouse is not valued like a traditional apartment. Several criteria are fundamental: the authenticity of the building (original framework, preserved façades, grand staircase, paved courtyard, enclosed garden), historical pedigree (renowned architect, illustrious owners, events linked to the site), classification as a Historic Monument or supplementary inventory, location (historic centre, listed district, monument view), and the truly usable floor area.

A 600 m² townhouse in Strasbourg, with a 200 m² interior courtyard, partially listed as a Historic Monument, within the Grande-Île UNESCO perimeter, can be valued between €4,000 and €7,000 per m² depending on condition. In Paris (Marais, Saint-Germain, 7th Left Bank), values rise to €25,000 - €45,000 per m². In Reims (Cathedral district), between €5,000 and €9,000 per m². In Metz, around €4,000 - €6,500 per m². Our expertise lies in objectively determining this value through off-market comparables and anticipating restoration costs.

Before any commitment, we commission a comprehensive audit: heritage architect (diagnosis of framework, roof, façades, load-bearing structures), historian (research at Departmental Archives, building genealogy), thermal engineering firm (insulation compatibility and Historic Monument standards), chartered surveyor (surface surveys, possible subdivision), specialised notary (clearing servitudes, real rights, ABF/MH pre-emption rights).

The cost of this audit ranges from €8,000 to €25,000 depending on complexity, but it prevents catastrophic errors: façade requiring complete restoration (€200-400k), rotten framework (€150-300k), non-compliant electrical/fire systems, right of way servitudes, third-party rights over the courtyard, Historic Monuments imposing identical restorations under ABF protocols.

95% of exceptional townhouses are never published online. They circulate within closed circles: notaries (family offices managing multi-generational heritage), inheritances (heirs seeking discretion), divorces (forced quick sales), private bankers (clients seeking diversification), heritage architects’ networks, art dealers and antique dealers who know owner-collectors.

Our role: to position you within these circles through our partnerships with 6 notarial offices in Alsace, 12 national partner offices, 4 specialised tax law firms, and a network of family officers in Paris, Geneva, Luxembourg, Brussels. We receive on average 15-25 off-market mandates per year for townhouses priced between €1.5M and €25M.

The acquisition of a listed or registered townhouse opens powerful tax schemes: Malraux Law (22-30% tax credit on restoration works in Remarkable Heritage Sites, capped at €400k over 4 years), classified Historic Monuments (unlimited deductibility of works from global income, inheritance tax exemption in direct line under conditions), usufruct dismemberment (acquisition of bare ownership with 30-40% discount), family civil companies or heritage civil companies.

We coordinate with your tax advisor, notary and accountant to establish the optimal structure according to your profile: acquisition as an individual, civil company taxed under income or corporate tax, temporary dismemberment, donation-sharing with usufruct reservation. Proper optimisation often saves €200k to €800k in taxes over 10 years for a €4M townhouse.

After the authentic deed, the work begins. We coordinate the restoration team: lead heritage architect, companies certified for Historic Monuments (framework, stone carving, artistic ironwork, stained glass, decorative painting, antique parquet), control office, ABF, DRAC for authorisations.

Timelines are lengthy: 18 to 36 months for a full restoration, 6 to 18 months for major renovation. Budgets: €2,500 to €4,500 per m² for MH restoration according to best practices, €1,200 to €2,500 per m² for careful renovation. Resale after restoration typically targets a gross capital gain of 15 to 35%, before tax.