Who Wants to own a Fairytale Chateau ?

Local News Property
Fundraising to buy a Chateau

For 51 euros, it is possible to become co-owner of the magnificent chateau of La Mothe-Chandeniers in Vienne. The subscription is open until Christmas to rescue this gem.

Surrounded by water, bristling towers but insidiously overgrown, the Chateau La Mothe-Chandeniers may soon get out of his sleep and be reborn, provided that original operation participatory fundraising lead by Christmas.

For 51 euros, and via a simple click on the internet, everyone can become the owner of a small part of this fairytale chateau, jewel of French heritage located in Trois-Moutiers, in Vienne, and held a by now an eighty year old.

Specialized in the rescue of old stones, crowdfunding site Dartagnans.fr and the association Adopt a castle launched in late October, an original operation: collective redemption via the Internet and over the counter, these flaming ruins for the sum of 500,000 euros.

The principle is simple: for every donation of 50 euros, an additional investment of one symbolic euro gives right to a share of the castle, 100 + 2 euros to two parts, and so on. Contributes less than 51 euros, however, qualifies that status of “donor”, but savings benefactor worries ahead of the future owners.

This is to mobilize at least 10,000 contributors to save the castle not rated, and therefore benefit from any state protection.

“The risk was too great to see La Mothe Chandeniers bought and demolished by a developer” , written Dartagnans on its website.

Already collected 300,000 euros

On 2 November, 53 days before Christmas – closing date of the collection online – the counter of this site lived about 4,000 contributors who have already paid their reckoning, and pushed the prize pool to more than 300,000 euros.

Romain Deleaume, president and co-founder of Dartagnans, said he is confident about the collection in time for the full amount, “and beyond” . Especially since this time, no need to go through the auction box, and ” thus more competitor in front of us” , he explains. Last September, Adopts Dartagnans a castle and had forged a partnership to try first the collective purchase of another monument in danger, Castle Paluel Dordogne, but without success. Their half a million gathered did not match for a higher bid of 850,000 euros.

This time, the transaction is by mutual agreement directly with the owner, Marc Demayer, a heritage lover from the region and 82 years old who had bought La Mothe Chandeniers in 1982.

In late October, a sales agreement was signed before a notary by the three parties. A suspension clause helps to loosen if the 500,000 euro is not collected on time.

If successful, the takeover would be in the form of SAS (simplified joint stock company), the liability of each co-owner is proportional to the invested contributions or a minimum of one euro, limiting their investment in case of large next invoice.

Once the deal is completed, an Internet platform would be open to all owners, allowing them to track the progress of work and participate in the development of a ” joint project” rehabilitation. Artist residency, cultural place, no hypothesis is excluded provided the castle become ” a symbol of the collective and creative expression, turned to the preservation and expansion of heritage and culture” , say the site founders participatory.

The current building dates from the early nineteenth century, but its history is much older. The castle was first mentioned in the thirteenth century under the name of the lord of the moment, of La Mothe Bauçay. But in the fifteenth century, it switches to the bosom of the illustrious family of Rochechouart. He ransacked during the Revolution, then flares up in 1932. The prestigious estate finally sold in batches in the 1980s.

Who Wants to own a Fairytale Chateau ? 1

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