new financial grid for the Manoir de La Mortière

  1. – The Manoir de la Mortière and its history
  2. – The Manor transformed into a gourmet restaurant
  3. – Works and financing: news on the financial project.
  4. – Les Sables-d’Olonne Vendee. Discovery: the Manoir de La Mortière is revealed

The Municipal Council of Les Sables d’Olonne had voted one year ago the rehabilitation project of the Manoir de La Mortière with the aim of a future commercial exploitation in the form of a gourmet restaurant.
To this end, a group of commands was formed.

The Manor of La Mortière
This Manor – located rue des Anciens Maires – is a very beautiful old building.
He was originally a fortified house dating from the Middle Agesand probably transformed at the beginning of the 17th century (the tower-porch probably dates from this period) into post office and inn.
Of approximately 750 m2, it is located in the heart of the Olonne-sur-Mer district, a stone’s throw from the Church.

It became the property of Gabriel Sourouille de la Mortière at the beginning of the 18th century. This one, Sieur de La Mortière, was a lawyer, licensed in civil and canonical law. He married Magdeleine Buiret in 1709. He had two children, Pierre-René and Magdeleine.
His son, Pierre-René, Public Prosecutor, also a lawyer, licensed in civil and canonical law, was tax prosecutor for Les Sables and the county of Olonne.
Pierre-René, born around 1718 in Olonne, was Mayor of Les Sables d’Olonne from August 23, 1760 to May 1, 1763, appointed Mayor by order of the Count of Blossac, to replace Mr. Lodre des Chasteigniers whose term of office was ending (l he eldest of Pierre-René’s children, Pierre-Marie, was also Mayor from August 1 to December 6, 1790 – he accepted the post of justice of the peace in November -, in a troubled period…).
It was in 1953 that it was sold by the family.

It had been bought by the municipality of Olonne-sur-Mer on February 24, 2006 from a private owner, at the price of €275,000 excluding tax at the time.
It is now fully within the framework of the heritage enhancement policy of the merged town of Les Sables d’Olonne.
In addition, within its perimeter, the space between the Manoir de La Mortière and the Church will be gradually freed up, allowing the creation of an airy forecourt and creating a visual link between these two remarkable buildings.

Gastronomic restaurant
The City of Olonne had received many proposals for this Manor; they had been considered unsatisfactory.
Mr. and Mrs. Ferré, who previously managed the restaurant located on the port of Les Sables, “Le Quai des Saveurs”, which they sold in February 2021, had visited the Manor in 2014 and had been delighted.
Their project and the allocation of the Manor for a gourmet restaurant was considered interesting and useful to the City of Les Sables d’Olonne; the triple objective aimed to enhance the heritage, develop activity in the heart of Olonne and support economic and commercial activity for the benefit of the inhabitants.
This choice was made, and an emphyteutic lease agreement for a period of 50 years was then planned for the operation of a gourmet restaurant, a brasserie and a delicatessen within this Manor.
The project also provides for staff accommodation, and subsequently some guest rooms.
The supply of the gourmet restaurant and the delicatessen will be done thanks to a farm and market gardening, including many aromatic plants, which was recently purchased.

Michelin star
It is projected by the couple of buyers to obtain a Michelin star.
Mr. Ferré has already worked in many establishments at this level and is therefore considered to be very experienced.
Le Manoir is well suited to this project with the presence of what will become four beautiful rooms after the planned renovation.
But, rooms which however await a nice renovation because over time they have suffered somewhat.
This also explains the amount of renovation work paid for by the City, but also by the lessees who will contribute a significant amount to the work and equipment.

Works: project sketched in 2021
The City of Les Sables d’Olonne will pay for the renovation work on the building for an amount of €1,330,000 including tax (the repair of the roof was carried out in 2017 for €50,000).
The lessee will contribute €1 million to the renovation, including €600,000 for works, and €400,000 for fittings and equipment necessary for marketing.
The fee set at €26,400 excl. VAT/year for five years then €30,000 excl. VAT/year did not give rise to any comments from the Domains department.
The project should be ready, after two years of work, for the month of June 2023.

Funding – Municipal Council of May 2, 2022
As planned, a 50-year emphyteutic lease was drafted for the Manoir de la Mortière.
During the Municipal Council of April 2, 2021, it was unanimously approved the conclusion of a promise of lease, then of an emphyteutic lease concerning the manor of La Mortière, to a company to modify or to create before the signature , majority-owned by Mr. and Mrs. Ferré with a view to its operation as a gourmet restaurant, brasserie, delicatessen and company accommodation for a period of 50 years.

It was expected:
– the building requiring major renovation work in order to put it out of water and out of air, it
it was planned that the municipality should carry out work to the tune of 935.000 € HT – enclosed/covered/structured – (to which must be added project management and ancillary costs, ie an amount of operation payable by the city of 1,043.725.86 € excl. tax). The development work valued at 530,000 € HT (excluding project management and kitchen layout) remaining the responsibility of the future occupant.

BUT, to
the continuation of the restitution of the APD phasethere appear to be additional costs for the operation concerning the Manoir de la Mortar: the city’s share of the work has gone from €935,000 excluding tax to around €1,435,000 excluding tax. In addition, it is also proposed that the city assume part of the cost of the finishing works, ie €177,200 excluding tax.

It was expected:
– that the fee be €2,500 excluding tax per month (30,000 excluding tax/year), revisable annually in proportion to the variation in the quarterly commercial rent index, it being specified:
– that for the first 5 years the fee will benefit from a reduction of €250 excluding VAT per month on the initial amount and its amounts revised annually,
– that from the 6th year this allowance will be abolished (the fee will therefore increase to €2,500 excluding tax per month increased by the annual review since the start of the lease proportional to the variation in the quarterly commercial rent index)
– that as of the 6th year and for the remainder of the term of the lease, the fee will benefit from a reduction of €250 excluding tax per month on the initial amount and its annually revalued amounts, as soon as and as long as the restaurant operates in the places rented will have a star in the Michelin Guide.

the continuation of the restitution of the APD phase, and the costs incurred for the City, it is therefore proposed to modify the clause concerning the royalties previously established for the lease granted and accepted:
– that during the first 5 years, a fixed annual fee, without indexation, which will be capped at €30,000 excluding tax, plus VAT at the rate in force, payable monthly in 12 terms and equal payments of €2,500 excluding tax per month;
– that from the 6th year, a fixed annual fee of €30,000 excluding tax and a variable fee based on turnover excluding tax, detailed as follows:
* if the turnover is less than 800.000 € excluding taxthe lessee must pay an annual fee fixed amount of 30,000 € excluding VAT, plus VAT at the current rate, payable monthly in 12 equal terms and payments of 2500 VAT, per month.
* from a turnover of €800,000, the lessee must pay:
– a fixed annual fee in the amount of 30,000 € excluding VAT, plus VAT at the rate in force, payable monthly in 12 equal terms and payments of €2,500 excluding VAT, per month in advance.
and in addition, a variable fee, set at 2.5% of turnover excluding tax, corresponding to the difference between turnover and €800,000, it being specified that this total fee (fixed + variable) may not exceed €3,000 excluding VAT per month, plus VAT at the rate in force.

As for the Michelin star reduction, it may apply from the start of operation:

– throughout the duration of the lease and from the first year, the tenant will be able to benefit from a reduction of €250 excluding tax per month on the fixed fee, which will then increase from €2,500 to €2,250, as soon as and as long as the restaurant operates in the rented premises will have a star from the Michelin Guide or an equivalent level of qualification in the event that the Michelin Guide disappears.

The lease, which must also include the parking spaces, will take effect no later than June 30, 2024.
On the site, a diagnosis of archaeological excavations will be undertaken. If it is necessary to undertake more extensive excavations delaying the end of the work, the promise of lease will specify that the lessee has the right to exit without any penalty. In addition, if the lessee wishes, despite the delay in the work, linked to only these successful excavations, maintain its project, the city will assume at its own expense the realization of the excavations without owing any compensation to the lessee.
The promise to lease will also provide for a suspensive clause for obtaining bank loans.

After the favorable opinion of the Town Planning Commission, meeting on April 26, 2022, the City Council authorized the Mayor to sign a promise then a lease emphyteutic under the new conditions.

See below the rare interior photos of the Manor
The Manor has a beautiful outdoor environment with, in particular, its beautiful tower and its entrance porch.
To offer you some interior photos with these four beautiful rooms – to be renovated – ne slipped away for a short time to photograph these gems…from another time!


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