This is a joint venture vehicle between Le Premier and the Real Land Group to develop business space, mainly offices, in the Marseille / Aix-en-Provence / Toulon region. To date, we have constructed and sold 19,200 sq m (206,700 sq ft) of space since 2007 with a total value of €36.25m.
We have two projects of 5,400 sq m (58,100 sq ft) currently under construction with an end value of €10m and are in the process of launching another two sites of 5,600 sq m (60,300 sq ft) with an estimated completed value of €12.5m
Our model is the efficient use of investor equity and, through forward funding mechanisms, we complete the projects without debt.
Le Premier Sarl is a Luxemburg based company formed by Peter Stewart and Paul McDowell source, structure and asset manage properties in France since 2004. It combines real estate expertise with specialist knowledge of cross border company structures that are a platform for private equity syndicates on a tax efficient basis.