516 Route Notre-Dame-du-Pré · Savoie · Confidential

The investment case for Le 516.

€287,000 against a fully-owned, unencumbered title. Eighteen months to first guests, two seasons before the Games. Projected returns, an itemised budget with risk priced from a scored register, and three ways to take a position.

€287,000
The ask
€300,000
Present value
10.3%
Base case yield
2030
Olympic Games
Returns

Modelled quietly, without optimism.

Against £300 a night and £1,800 a week. Net figures allow a full quarter for management and running costs. Yield is measured against the €287,000 renovation, not the value of the asset.

ScenarioGrossCostsNetYield
Conservative16 weeks · £1,600£25,600£6,400£19,2006.7%
Base22 weeks · £1,800£39,600£9,900£29,70010.3%
Olympic year28 weeks · £2,400£67,200£16,800£50,40017.6%

Two seasons carry the property rather than one: skiing through winter, then cycling, hiking and the lakes through summer. Host regions typically hold demand well above their pre-Games baseline once the Games have passed.

Terms

Three positions on the curve.

Take a secured fixed return, participate in the upside, or hold both at once. Every position carries a defined exit — buyout at independent valuation from year five, or on sale.

One
Fixed return
9%
per annum · five years
€287,000 lent against an unencumbered title, secured by first charge. €25,830 each year, €129,150 across the term, capital returned in full at close.
Secured
Two
Equity share
20%
income & capital uplift
A six percent preferred return on net income, then twenty percent of the balance each year. On sale, twenty percent of the uplift measured from the property's present value of €300,000. Buyout at independent valuation available from year five.
Participating
Three
Hybrid
8% + 10%
fixed floor, participating upside
€143,500 lent at eight percent alongside €143,500 for a ten percent share on the same terms as Option Two. The fixed leg holds the floor; the equity leg keeps the upside. Same year-five buyout.
Balanced

Present value of the property is €300,000, unencumbered. Capital uplift is measured from that figure. Illustrative only, not a financial promotion, and not an offer of securities — terms are subject to contract and independent legal advice on both sides.

Risk

The Games raise demand. They also raise costs.

The same €101M of infrastructure spend that lifts this valley's rental market will draw labour and materials across the Tarentaise through exactly our build window. Contingency here is not a flat percentage but the expected value of ten scored risks — cost escalation, contractor availability, concealed structural defect, groundworks, consents — each with a likelihood, a cost if it lands, and a named mitigation. That method produced the €56,000 carried above, and it is why the ask is €287,000 rather than a rounder number. The full register is available on request.

The Ask

€287,000, itemised.

Every line costed, with contingency priced from a scored risk register rather than a flat percentage. Eighteen months to first guests — two full seasons of reviews before the Games arrive.

ExteriorFacades, roofing, windows, shutters€53,000
InteriorFull refit — kitchen, bathrooms, joinery€60,000
Plumbing & electricalFirst and second fix, heating, distribution€17,000
GroundsPool, terrace, outdoor kitchen, planting€60,000
Construction works€190,000
ContingencyRisk-based — expected value of ten scored risks€56,000
Fit-outFurnishings, linens, systems€26,000
Project managementArchitect, contractors, site visits€15,000
Total€287,000
Q3 2026Investment closes, planning begins
Q4 2026Architect appointed, permits secured
Q1 2027Construction commences
Q3 2027Interior fit-out
Q4 2027Pool and grounds complete
Q1 2028First guests
Feb 2030Winter Olympic Games, La Plagne

Let’s talk it through.

Site visits can be arranged. The full risk register, a costed schedule, heads of terms and the legal pack are available on request.

Request the deck Arrange a call
Tom Lipop tl@tlipop.com +44 7894 330 040