Today, we sit down with Monty and Archie Berrow, the driving forces behind Berrow Projects, to delve into the fascinating journey of the Mon Cor project.
This historic residence, originally built in 1903 by a wealthy French family, has undergone a meticulous transformation from a derelict state to a meticulously restored gem that seamlessly blends early 20th-century architectural marvels with 21st-century living standards.
Mon Cor was built in 1903 by Parisian architects for a wealthy French family.
What is unique about Berrow Projects and the way you work?
I think what sets us apart from traditional property developers is that we have an in-house design studio in Sóller with a team of talented architects and designers from Mallorca and around the world who manage our projects from the initial concept phase to client handover and beyond.
This hands-on approach allows us to be on-site every day collaborating with our craftsmen and builders to create homes that are unique and bespoke to our clients.
“During the renovation, we restored all the original hydraulic floor tiles, wooden doors, and other unique property features.”
Tell us about your latest project, Mon Cor, and the process of getting it to where it is today.
Mon Cor was built in 1903 by a wealthy French family who hired their Parisian architects to design an architectural marvel that set the benchmark for early 20th-century living.
When we purchased the property it was in a derelict state but the key architectural features and details lived on. Our design and development team pursued the challenge of respecting the rich heritage and architectural features while transforming the property into a heartfelt home that sets the benchmark for 21st-century living.
As an example of our commitment to retaining the history of the property, when we began the renovation process, we removed and restored all the original hydraulic floor tiles, wooden doors and other unique features that we felt were special to the property.
Once we had completed the new structural foundations, electrical works, plumbing, and various other construction works, we then put the original features back in place, resulting in a structurally new home yet with the original features still prevalent throughout. The renovation process took 18 months and now the home is furnished and ready to be passed on to a new loving owner when we publicly launch it for sale towards the end of Q1, 2024.
“Mon Cor is an architectural gem with so much history and heritage that is still present in the finished home.”
What makes Mon Cor a unique finished home compared with others in the area?
Mon Cor is an architectural gem with so much history and heritage that is still present in the finished home yet there is no compromise on the top-quality modern living standards and design-led layout and interiors that our buyers expect.
The house is within 5-minute walking distance to the Sóller town square, so you are right in the heart of the action, but you have a completely private exterior space with a swimming pool and private parking, which is very difficult to find in Sóller.
We designed the home to be used year-round with a “lock up and leave” practicality that makes it attractive for people looking to come not only for long summer holidays but also to enjoy for shorter periods without the hassle and costs that come with having larger finca style properties.
What made you choose Sóller as the place to set up Berrow Projects?
Sóller is nestled in a picturesque valley surrounded by the Tramuntana Mountains. Its stunning natural beauty with lush orange groves and scenic landscapes is instantly attractive to anyone who visits and it is still only 30 minutes from Palma and the international airport.
The historic old town is also special, it is renowned for its well-preserved architecture, beautiful Art Nouveau buildings, historic houses, and cobblestone streets. We fell in love with the town when we arrived 6 years ago and have seen the international demand for the area skyrocket during that period.
“There is no compromise on the top-quality modern living standards and design-led layout and interiors that our buyers expect.”
What are your plans for the future in Sóller and beyond?
For now, we are very focused on the North-West region of Mallorca and have several projects in the pipeline in the towns of Sóller, Valldemossa, Port de Sóller, and Fornalutx. We are not only committed to building homes in this region but also having a positive impact on the local community and improving the hospitality offering here through our other businesses in the area:
- We also operate the Sóller Tennis Club and over the last two years have been developing it into a one-of-a-kind destination where tennis, padel and swimming are metres away from a relaxed restaurant and panoramic views across the UNESCO World Heritage Serra de Tramuntana.
- Our family also started Patiki Beach restaurant in Port de Sóller 5 years ago, a farm-to-table concept on the beach.
What are the current trends in the real estate market in Mallorca, and how might they impact property values and investment opportunities in the coming years?
Mallorca has always been desirable for international buyers due to its year-round sunny climate, beautiful landscapes and the diversity on offer whether it’s the UNESCO World Heritage mountain ranges, sandy beaches, historic old towns, or the wonderful city of Palma.
In more recent years, especially since COVID, there has been an increased demand due to people’s ability to spend more of their time working remotely from Mallorca yet still be within 2/3 hours from most major European cities through Palma’s international airport.
In terms of property features, the trends we see are:
- Environmentally conscious homes: There is a growing demand for homes that respect their surroundings and are built with environmentally conscious methods. Whether this is through the implementation of sustainable energy with solar power, the use of upcycled natural materials from the island, or restoring the existing materials through reformation projects, the environmental trend is universal and Mallorca is no different.
- Health & Wellness: I think the strongest trend from high-end buyers is for the health and wellness lifestyle that their home will bring them. Being close to nature and the outdoors and all the wellness that comes with that is a key factor for many buyers coming to Mallorca. The island is so diverse and caters to so many healthy lifestyle habits such as the internationally acclaimed cycling & hiking routes, the many tennis clubs and golf courses, the boating and yacht club offerings, and many more…
- Quality: Buyers pay particular attention to quality, craftsmanship, and attention to detail. It can be difficult to find homes in Mallorca of the standard that people are used to coming from other European and international destinations so when this quality expectation is met buyers are willing to pay a premium.
The above trends are not going away and properties that cater to these demands will continue to achieve premium prices in the coming years.
“An in-house design studio with a team from Mallorca and around the world manages our projects from the initial concept phase to client handover and beyond.”
Can you provide insights into the legal and regulatory aspects of purchasing property in Mallorca, including any specific considerations or requirements for international buyers?
The process in Mallorca is fairly straightforward and is typically handled from start to finish through a single point of contact for the buyer which is their lawyer on the island. The purchase process is typically as follows:
- Private Purchase Contract: Once a price and the key terms are agreed between the buyer and the seller, the lawyers formalise this through a private purchase contract. This binding agreement outlines the terms, conditions, and price of the sale and typically requires a 10% deposit from the buyer. This agreement typically allows 30 days for the buyer’s legal team to perform their due diligence.
- Completion: The purchase will be finalized at a notary’s office where the remaining 90% of funds are paid by the buyer. The property’s title deed is transferred, and you officially become its guardian.
“We designed the home to be used year-round with a “lock up and leave”.
International buyers are required to have an NIE Number: (Número de Identificación de Extranjero) which translates to National Identification Number for Foreigners. The application process is typically also handled by the lawyers and takes place simultaneously with the private purchase contract.
In terms of purchase taxes for the buyer, the property transfer tax is a progressive tax based on the purchase price:
- 8% up to €400,000
- 9% from €401,000 to €600,000
- 10% from €601,000 to €1,000,000
- 11.5% from €1,000,000 of the agreed price.”
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