Rue Basse

Monaco

The Opportunity

A dated and non law compliance top floor studio apartment in a Monaco historic building adjiacent the Place de la Marie.

Many apartments in historic buildings in Monaco have restrictions on the rental side with the Government permission to rent it only to Monaco citizens or long term resident (laws 1235, 887) but this one was unusually not affected by these laws. The nearest parkings are Parking de la Visitation (250mt) and Parking du Chemin des Pêcheurs.(300mt) where it is possible to get a resident parking permit.

Strategy

Redevelopment of the studio apartment into a one bedroom luxury apartment with the legal volumes to grant the residence permit in Monaco up to two people in order to attract wealty couples looking for a tax free residence.

Implementation

Engaged the interior designer JJ Design Studio, Deverini Architectes and TDMP Enterprise Genérale Du Bàtiment.

The project has been completed in 20 months.