Best way to sell a business in France (Location en meublée)?
In the past 24 months, i.e. the last two rental seasons, my property in France has managed a gross income of over 150,000 euros. There is a net income of over 30,000 euros which becomes a loss after depreciation is applied. The mortgage on the property is circa 1.2 million euros and the monthly mortgage payment are 1,170 euros.
We want to achieve a sales price of 1.7 million euros and we would accept 1.6 million euros which means that if an investor were to have a similar mortgage he may need to find approximately 1.72 million euros (including fees) or 500,000 euros.
Put it another way, a UK person would need to find approx 360,000 UK Pounds to buy this property in France and the income would cover all expenses with a surplus and there would not be a single penny of tax to pay as the amortization charged to the account makes a tax loss.
What might be the best road to go down if we were selling a Professional Furnished Lettings Business in France together with the asset?