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The ’Domaine des Oliviers de l’Estérel,’ a nearly 75-acre compound on the French Riviera, is hitting the market for $65 million.

The ’Domaine des Oliviers de l’Estérel,’ a nearly 75-acre compound on the French Riviera, is hitting the market for $65 million.


Photo:

Laurent Saint-Jean/3mille

By

Katherine Clarke

Jan. 30, 2018 10:37 a.m. ET


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A nearly 75-acre compound on the French Riviera is going on the market for $65 million.

Known as the “Domaine des Oliviers de l’Estérel,” a nod to the hundreds of olive trees on the property, the compound overlooks the Bay of Cannes and is located 15 minutes from the Promenade de la Croisette, Cannes’s oceanfront boulevard, according to the listing.

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The 21,000-square-foot estate comprises three separate villas and includes 17 bedrooms, three swimming pools, a gym, a tennis court, 3 miles of fitness trails and a helipad. Separate staff quarters and a caretaker’s residence are on the site. The purchase price also includes the company that manages the property and employs its resident manager.

The property typically rents for around $155,000 a week during the high summer season, said a spokeswoman for the Corcoran Group, the listing agency.

The 21,000-square-foot estate overlooks the Bay of Cannes.

The 21,000-square-foot estate overlooks the Bay of Cannes.


Photo:

Laurent Saint-Jean/3mille

Corcoran said the owner is Danish investment group

Olivenlund Ejendom,

which specializes in renovating homes in Europe. It bought the then-rundown property in the spring of 2007 and invested millions into a 5-year renovation, according to

Eleonora Magni,

a company spokeswoman. She declined to comment on how much the company paid for the property, but said the partners are selling because they’re ready to move on to their next renovation project.

While Cannes real-estate prices are still significantly below the peaks of 2007, some large sales have closed over the past year. In early 2017, a modern villa on the city’s fringes sold to a Norwegian family for $30.3 million.

Thomas Di Domenico

of Corcoran, one of the listing agents, said being in the hills above Cannes offers a greater degree of privacy and security for high net-worth individuals. He shares the listing with

Susie Hollands

of French real estate agency Vingt Paris.

Write to Katherine Clarke at katherine.clarke@wsj.com