Municipal properties in Nice to be auctioned to private buyers

Several municipal properties in Nice are set to be auctioned by Nice town hall. Is it actually a good deal for buyers and what are the main reasons ?
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Nice - Provence-Alpes-Côte d'Azur - France

May 24, 2012 - PRLog -- In addition to a very  famous villa located on Boulevard de Cimiez, the mayor's office in Nice is looking for buyers for other municipal properties such as office buildings, apartments, and parking spots.
This "Belle Epoque"  villa offers 250 square meters of living space with a garden and has long been known as the "House of Repatriates" of Nice; a centre used by French people returning from Algeria following Independence. It is now for sale at 378,000 euros. A bargain since the tax authorities has estimated this property at 630,000 euros. However, the purchaser should know that the location is noisy because it overlooks the highway. Added to this, since the association left the premises  last year, for a new spot on the port the building was squatted, vandalized, doors were smashed with a hammer… so the new buyers need to be prepared to do a lot of work. So this house is still up for grabs despite its attractive price and lovely features such as stucco, moldings and the gables on the front.
As an example, some other properties for sale in Nice can be seen on the following link:

Auction in June

To sell its property, the town has decided to hold an auction. The house will be sold to the highest bidder at an auction organized by the Chamber of Notaries which will take place in their offices (18 Congress Street), this June.

Other municipal assets will also be auctioned off on this occasion: business premises at 18, rue Marceau (starting price: 20,000 euros), offices at 22, boulevard Dubouchage (420,000 euros), an apartment at 34 Avenue of Flirey (182,000 euros), various premises at 2, rue Deloye and 32, rue des Hotel Post (for a total of 1.3 million euros), three parking lots at 126, rue de France (14,000 euros each), and even land at 160 boulevard de la Madeleine (43,800 euros).

Why does the mayor's office get rid of a part of his private assets?

To sell or not sell? The mayor's office has several hundred pieces of land and other properties. Some of them neither useful for the town hall nor exceptional.
On the other hand questions should be asked about whether they really should sell. If we take the example of the "House of Repatriates" in Cimiez - it is the perfect spot for  a public institution such as nursery or educational establishment, both in such sort supply. Their explanation ? -  the absence of any disabled person access and lack of  parking can justify their need to sell the house.

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Tags:Property, Nice, France
Industry:Real Estate
Location:Nice - Provence-Alpes-Côte d'Azur - France
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Page Updated Last on: May 24, 2012

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