Is this Gretz-Armenvilliers palace really worth 425 million euros?

The sale of the Château de Louvesiens (Yvelines) to Mohammed Ben Salman for the record sum of 275 million euros had already caused quite a stir., Without any historical pedigree and in a location where transactions worth tens of millions of euros are rare, the amount already seemed very large for a recent construction… So what can we say about the arrival on the market of Gratz Castle – Armenvilliers can (Seine et Marne) at a stratospheric price of 425 million euros? An amount never reached in France and perhaps even in the world.

What can justify such a price in the most remote department of Île-de-France and where luxury goods currently offered for sale barely exceed 15 million euros. ,It should be noted that the palace is offered with an extraordinary plot of land of 1000 hectares, which can attract very large fortunes wishing to live in complete isolation., estimates Stéphane Aguiraud, president of the Mercure Group, a network specializing in the sale of palaces. However, he admits that given the location of the property, it would be difficult to value the land at these levels. And then there’s also the question of the palace’s real estate value. “After all it is a quite recent building from the end of the 19th century, it remains to be seen to what extent the work begun by King Hassan II of Morocco in the 1990s is in line with the tastes of that era, He specifies. And to what extent they still meet the current needs of customers.

“this is absurd”

It’s hard to know what’s going on, as the Belgian intermediary responsible for marketing this extraordinary property, Ignace Meuwissen, was unable to respond to our requests. So we have to be satisfied with the confidence given in the Paris match By a man who does not indicate on his website that he deals with cases worth less than 10 million euros. The latter does not fail to highlight the spacious property and its 1 km long lake or even “Pharaonic Work” Under the leadership of the King of Morocco. The Anglo-Norman style mansion seems to have been transformed into a Moroccan palace inside. We are talking about European and Moroccan kitchens, reception rooms or hunting rooms and even a large medical unit to ensure the health of the king: dental clinic, pharmacy, analysis laboratory or examination. middle of the room. The complex has approximately a hundred rooms, 2,500 square meters of living space and 17 bedrooms. Not to forget the stable of 50 horses.

Old postcard of the Château d’Armenvilliers. Photo credit: Sdo216/Wikimedia

An unusual asset that may have difficulty finding its target at these price levels. On condition of anonymity, experts on luxury real estate and palaces believe that the declared price is completely fictitious. One of them claims that he was approached for this sale two years ago at a much lower price and he refused considering the price. “unreal”, “It doesn’t make any sense, it’s absurd, Even another real estate agent’s summary states this. “These types of properties can sell for Rs 20-25 million or even Rs 30 million if we really fall in love with them.” “I’m not even sure that Vaux-le-Vicomte, which has no marketing plan, will sell at this price”Lets the third one out.

All also note that the transaction is shrouded in mystery between an independent Belgian real estate agent based in Switzerland and someone claiming to have ties to him. oligarchs Sale of the castle by Russian and Ukrainian or Mohammed VI To a prudent buyer in 2008 for 200 million euros, “originating from the Middle East”About which we know almost nothing. “If a transaction was concluded at these price levels, I also think it is safe (Land Development and Rural Settlement Company) “We will keep a close eye on the transaction, given that it will increase the value of the land.”, underlines a good connoisseur of this type of file. The Bordes estate, near this area, with fairly comparable properties, had been put up for sale years earlier for a fraction of this price and he had to substantially scale back his ambitions.

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