A historic mansion on the French Riviera was put on the market in 2017 with an asking price of about $410 million, potentially making it one of the most expensive residential properties ever offered for sale.
Known as Villa Les Cèdres, the palatial estate is located in Saint-Jean-Cap-Ferrat, near Nice, in the south of France.
Built in 1830, the property sits on about 35 acres of landscaped grounds containing thousands of plant species, centuries-old olive trees, a man-made pond and a bronze statue of Athena.
According to a report by Bloomberg, the approximately 18,000-square-foot mansion also offers views across Villefranche-sur-Mer and towards the Maritime Alps.
Inside the residence are richly decorated rooms featuring portraits, while its library reportedly contains about 3,000 books relating to plants and horticulture.
Villa Les Cèdres has a long history of prominent ownership. The property was acquired by the mayor of Villefranche-sur-Mer in 1850, when it was still an olive farm.
Belgian King Leopold II later purchased the estate in 1904 and used it as a holiday residence. Following his death, ownership passed to the Marnier-Lapostolle family, founders of the Grand Marnier liqueur business.
For decades, the family developed the estate’s gardens, cultivating exotic plants and orange trees as part of the family’s connection to the liqueur business.
In 2016, Italian drinks company Davide Campari-Milano acquired Grand Marnier’s parent company, bringing Villa Les Cèdres under its ownership.
Campari subsequently placed the property on the market. Reports had previously suggested an asking price as high as $1 billion, although Bloomberg described that figure as a rumour and reported the $410 million listing price.
The estate is situated in one of the French Riviera’s most exclusive areas, close to properties associated with Microsoft co-founder Paul Allen and composer Andrew Lloyd Webber.
With its extraordinary size, historic ownership and extensive gardens, Villa Les Cèdres was being marketed as one of the most exceptional and valuable residential properties available at the time.
Source: Bloomberg, as reported by Money.
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