Pre-opening | ClubFunding Issues €485,000 in Bonds to Buy, Refurbish and Resell Three Flats in Hyères (France)

01/10/2026 – ⏱ 3 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

The French platform ClubFunding is preparing a €485,000 bond issue to fund the purchase, refurbishment and resale of three flats in the Le Château d'Argent residence, in Hyères (Var). It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

The published fact sheet does not state the interest rate or the term of the issue, two essential figures for assessing the operation, nor the opening date, the minimum investment, an internal rating or the issuing company. It also provides no independent valuation of the assets. Investors should verify all of this in the contractual documentation before committing funds.

Asset description, construction progress and sales traction

These are three homes totalling around 160 sqm of living space: a one-bedroom flat of 52.58 sqm on the ground floor with a private garden, another one-bedroom of 43.19 sqm on the fourth floor with a terrace, and a two-bedroom of 65.26 sqm on the third with reversible air conditioning. Two storage rooms, two closed garage spaces and one outdoor parking space are included, and the buildings have lifts. The property is about ten minutes by car from the beaches and Toulon-Hyères airport and fifteen minutes' walk from the station and the old town.

The purchase undertaking was signed on 22 May 2026 for €480,000, around €3,000 per sqm, with no record that the purchase has been completed before a notary. The refurbishment is budgeted at €59,000, around €369 per sqm, over an estimated three months and with some €2,500 of contingency; the full works amount is held in escrow and released against invoices, a control mechanism worth noting.

The resale target is €730,000, around €4,562 per sqm, against the €3,000 per sqm of the purchase. There is no committed buyer: repayment depends entirely on selling the three flats once refurbished. The platform points to demand from senior buyers in the town, a claim it does not support with comparables.

Financial structure, coverage ratios and security

There are three forms of security: a joint and several personal guarantee from the legal representative, a natural person; a first-ranking mortgage over the financed flats; and a first-ranking mortgage over a complementary asset, building B at 22 avenue de Toulon, also in Hyères.

That second mortgage makes sense once the figures are set side by side. The issue, at €485,000, exceeds the purchase price of the flats, €480,000, so the amount lent equals 101% of what is paid for the main asset and 66% of the resale target. With no published valuation of either property, the investor's effective cover depends largely on the value of that complementary asset, which the fact sheet does not quantify.

Purchase and works total €539,000, some €54,000 above the issue, a difference the developer would have to contribute without the file quantifying or evidencing it. The platform itself recalls that the higher the rate, the greater the risk of loss of capital or non-payment of interest, and that past returns do not anticipate future ones; among the operation's risk factors it expressly lists sales risk.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period to revoke their offer without penalty. This is a crowdfunding product, not a deposit or a guaranteed savings product. It carries risks of illiquidity and of total or partial loss of principal. It is not supervised by the CNMV or the Bank of Spain, and has no cover under Directives 2014/49/EU and 97/9/EC. Investors may not recover the capital contributed.

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Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.