Heritage

The numbers.

Investment Thesis

Disciplined capital deployment across acquisition, restoration and activation — with clear exit scenarios and an operating income framework.

Request the Memorandum View the Portfolio
Capital Deployment & Returns

The numbers

Disciplined capital deployment across acquisition, restoration and activation — with clear exit scenarios.

€13.77M
Total Sponsor Budget
€19.0M
Target Exit
€5.23M
Value Creation
38.0%
Target ROI
2,809 m²
Built Area
24 mo
Horizon
Capital Deployment
ItemAmount
Asset Acquisition€4,839,704
Project Execution€458,000
Construction€7,600,000
Interior Design & Furnishing€730,000
Gardens & Landscaping€140,000
Total Sponsor Budget€13,767,704

Model assumes 100% equity investment and no financial leverage. Recoverable VAT excluded.

Exit Scenarios
Conservative Exit
€16.47M
19.6% ROI
Profit: €2.70M
Institutional Portfolio Exit
€19.00M
38.0% ROI
Profit: €5.23M
Strategic Exit
€20–22M
45.3–59.8% ROI
Profit: €6.23–8.23M

Target figures are sponsor projections and subject to due diligence, permitting, execution and market conditions.

Unit Economics — Entry basis creates the spread
€1,723/m²
Acquisition Cost
vs. €4,072 market
€4,901/m²
Total Cost Basis
€5,863/m²
Conservative Exit
€6,764/m²
Institutional Exit
€7,120–7,832/m²
Strategic Range

All €/m² calculated on 2,809 m² built area. Sponsor projections subject to change.

From the Rooftops

Mediterranean Sea — 4 minutes away
Income Underwriting

A hold case beneath the exit thesis.

The investment thesis is supported not only by a target portfolio exit, but also by an operating-income framework. A proposed sponsor/operator lease scenario creates a visible gross income basis, while a conservative hospitality scenario demonstrates resilience under moderate occupancy assumptions.

Proposed Lease Scenario
€550.2K /year
4.08%
Gross yield on €13.5M basis
Proposed sponsor/operator lease model • subject to signed documentation
Hospitality Conservative
€469.2K /year
3.48%
Gross yield on €13.5M basis
50% annual occupancy • 26 occupied weeks • Conservative assumption
Stabilised Upside
€615K–742.5K /year
4.6%–5.5%
Gross yield on €13.5M basis
65–70% occupancy + revenue management • Illustrative upside, subject to performance

Proposed Lease Rent Roll

AssetOperating AssumptionAnnual Income
H163 apartments + cowork, €8,850/month€106,200
H13Restaurant + 2 apartments, €8,100/month€97,200
H11Restaurant + floors 1–2, €9,800/month€117,600
H8 Apartments9 apartments at 50% occupancy€187,200
H8 RestaurantRestaurant lease, €3,500/month€42,000
TotalProposed portfolio income€550,200
H16 — Rent Breakdown €8,850/mo
Apartment, 2nd floor luxury€2,950/mo
Apartment, 1st floor€2,800/mo
Ground-floor apartment€1,600/mo
Cowork space€1,500/mo
H13 — Rent Breakdown €8,100/mo
Restaurant€2,800/mo
Apartment€2,800/mo
Apartment€2,500/mo
H11 — Rent Breakdown €9,800/mo
Ground-floor restaurant€4,500/mo
First floor€2,800/mo
Second floor€2,500/mo
H8 — Income Breakdown €229,200/yr
9 apartments at 50% occupancy€187,200/yr
Restaurant lease, €3,500/mo€42,000/yr

Income Scenario Matrix

ScenarioAnnual Gross IncomeGross YieldWhat it demonstrates
Proposed Lease€550,2004.08%Income support / lease-backed hold case, subject to signed documentation
Conservative Hospitality€469,2003.48%Resilience at 50% occupancy / 26 weeks
Stabilised Upside€615K–742.5K4.6%–5.5%Potential upside through occupancy and revenue management

Why this matters

Income support
The investment is not dependent only on a sale scenario.
Hold optionality
Investors can evaluate income and exit routes separately.
Operator alignment
The Jessica Bataille platform supports brand, activation and guest experience.
Upside optionality
Conservative assumptions leave room for revenue management and seasonal pricing.

Gross yields are calculated on a €13.5M valuation basis and before taxes, operating expenses, financing, maintenance, management fees and investor-specific structuring. The sponsor/operator lease scenario is subject to final lease documentation. Hospitality scenarios are sponsor projections and depend on licensing, operational execution, occupancy, pricing and market conditions.

Risk & Mitigation

Risk is not avoided. It is structured.

Risk Description Mitigation
Licensing
Timing and administrative sequencing across four heritage assets.
Project-by-project licensing tracker and active ECUV / Ayuntamiento coordination.
Construction
Execution complexity across four simultaneous rehabilitation sites.
Phased deployment, controlled scope and experienced technical oversight.
Heritage
Historic rehabilitation and structural sensitivity of protected buildings.
Specialist architectural review and dedicated heritage assessment.
Operations
Hospitality model must be clearly defined before asset activation.
Operating model for reception, F&B, housekeeping and guest experience.
Exit Valuation
Portfolio premium must be demonstrated to institutional buyers.
Completion, operational integration, scarcity, brand positioning and buyer universe.
Capital Deployment

Capital deployment across 2026–2028

2026
Phase I — Acquisition & Design
€5,297,704
  • Portfolio acquisition completed
  • Architectural projects & licences
  • Heritage assessment & engineering
  • Interior design master plans
2027
Phase II — Construction
€3,870,000
  • Structural restoration
  • Infrastructure & MEP systems
  • Heritage facade restoration
  • Commercial fit-out begins
2028
Phase III — Completion
€4,600,000
  • Interior design & furnishing
  • Gardens, landscaping & pool
  • Operator agreements
  • Asset monetisation or hold

Heritage Jávea brings together four historic buildings
into a single long-term hospitality platform in one of the
Mediterranean's most protected urban settings.

We would be pleased to share the complete investment documentation with qualified partners.

Request the Investment Memorandum