The project Villa Virginie by Koregraf

Review of the project Villa Virginie by Koregraf

Review's score :

This review is proposed by Grégory Vaur on 01/02/2024

⏰ The project starts on 06/02/2024 10h00
💰 The estimated rate of return is 11% per year.
⏱ The duration of the project is 24m
💼 Minimum amount to invest is ?

🤖 Review's summary

Analysis of Villa Virginie project at Koregraf by Grégory Vaur

The project is scheduled to take place on 2024-02-06 10:00:00

Overall review: Low guarantees, high-end apartment well located, but no pre-commercialization, exit price above the upper range, and weak operator commitment.

👷‍ Project type: Purchase - renovation/construction - resale

💶 EUR 180,000 to be financed

⏰ Capital repayment: In fine. Interest: In fine.

Description: This involves the purchase of a 91 sqm apartment with a 28 sqm terrace and sea view. The objective is to carry out reconfiguration works (replacing the kitchen with a bedroom) and renovation, and then sell the apartment.

Location: Cannes is a city with 74,000 inhabitants, located 10 km from Antibes and 35 km from Cannes (via the A8 motorway).

✅ -> STRENGTHS ❗️-> WEAKNESSES ⚠️ -> Warning

✅ Yield 11% -> high

✅ The yield is higher than the average yield (10.64%) of recent projects at Koregraf.

❗ LTA (Loan to Acquisition): 170% -> high

❗ LTS (Loan to Sale): 80% -> high

LTC (Loan to Construction Cost): 35%

❗ Operator commitment: 1% -> low

Guarantee Type:

❗️ 2 Personal guarantees with a net worth of €1.5 million

❗️ Health of the company carrying out the project: Equity amount: €63k -> low. Net debt/equity ratio < 2.5? >20. Highly indebted company.

❗️ Pre-commercialization: None at present.

✅ Points of interest: Less than 1 km away from a restaurant, bakery, or bus stop, and less than 2 km from Cannes beaches.

Estimated Exit Price:

❗️ Exit price (€12,967/sqm) is optimistic, as it is above the upper range (€9,892/sqm source: meilleursagents). This can partly be explained by the fact that it is a renovated and furnished apartment with a sea view.

✅📉 Price per sqm has increased by 1.3% in the past year.

✅ Optimistic scenario margin: 17% -> high margin

✅ Pessimistic scenario margin: 8% in case of a 10% discount on the sale price -> decent margin

✅ Property condition: Apartment in very good condition after renovation.

❗ Renovation and reconfiguration works represent 28% of the total cost price (€2,967/sqm).

✅ Presence of an architect and a project manager.

✅ Urban planning risk: None.

✅ Project sponsor's track record: Several operations carried out in the region.

❗ Outstanding financing and operator delay: 1 ongoing project (€443k outstanding) and 1 project already repaid (source: hellocrowdfunding.com).

Platform quality:

✅ 0.81% delays of over 6 months at Koregraf -> low

✅ 0% permanent losses at Koregraf -> low

🤝 BONUS: No bonus code.

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My Opinion:

Overall, the Villa Virginie project at Koregraf seems to have some strengths, such as a high yield and a good location. However, there are also several weaknesses, including low guarantees, an above-average exit price, and a weak commitment from the project operator. It is important to consider these factors before making a decision to invest in this project. The presence of an architect and a project manager, as well as the absence of urban planning risks, are positive points. However, the lack of pre-commercialization and the high indebtedness of the company carrying out the project raise some concerns. Additionally, the operator's low commitment and the absence of a bonus code are areas that could be improved. Overall, while the project has its positives, it also has some drawbacks that need to be carefully evaluated. It is advisable to consider these factors and conduct further analysis before deciding to invest.

Historial rates of return Koregraf

Investor votes results for the project: Villa Virginie

37 voters
👎62% 👍5% 🤷0% 🏳️32%
To vote :

Grégory Vaur
Grégory, I am 26 years old and have been an investor in real estate crowdfunding, stock markets and crowd-lending for around 1 year. I trained myself by watching videos on these subjects. I am currently registered on the first brick, Clubfunding, Raizers...