collective live+work spaces
for people going places with purpose

candidate report
61 Huguetthe central Pyrénées, France 🇫🇷

Not yet visited, scheduled 15th June.

A satellite location balancing high mountain adventure and lowland relaxation — in a riverside village, close to a good little town for ski-station by gondola, and thermal spa for Europe's only natural 'vaporium'.

Boutique coliving rentals with investment offering over 25% net yield, with option of discounted use. About coliving investment →

In brief…

GOOD  🔨 effort
GREAT  🚌 transport
OKAY  ✈️ access
GOOD  🛒 shops
OKAY  🏙 towns
GREAT  🧗 activities
GREAT  ⛰️ nature
OKAY  ☀️ climate
GOOD  🌷 garden
OKAY  🏠 building
GOOD  ⛲️ hood
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The Locality

The central Pyrénées and the Occitanie region of France🇫🇷 — nestled where the hills at the edge of the plains meet the mountains, just 500m altitude, yet surrounded by peaks rising high, close to the Spanish border.

Google Regional Local

Access

Close to Toulouse (1h40 train with 1 change) and its airport (+40mins). Trains from Paris (7h, last 2pm with 2 changes).

On foot

Nature

Towns

Activities

Attractions

Climate

Fairly rainy so very green but a good number of days with only light cloud cover. Chilly winters getting a brief smattering of snow.

The Property

~€220k capital expenditure · €85k/pa target revenue
350m² across 3½ floors · 8 rooms · 3 cells · 3 pods · 10–16 occupancy
discounted use with shareholding

Spaces

Over 40% common spaces fit out for purposeful live + work use, ensuring that even when fully occupied there's adequate room for everyone to get along well.

Whilst a bit on the small size compared a more optimal property for coliving, it offers a good layout supporting multiple different moods/nooks and for each facility, thus supporting contrasting moods/activities/uses for each…

Outdoor spaces

Currently has a large roof terrace, which during the initial phase would be maintained, but tjis woudl be part built over for a new lounge (adding 2 more rooms below and better separation of spaces), however the new section would itself then have a 2nd roof terrace. There's also a very nice big public garden with old trees above the stream just 5mins walk.

Adaptability and moods

Common (135m²)

With 2 call rooms making calls will not be hindered, plus it'd regardless be possible on the roof terrace and in the lounge at times. (2 rooms would also have a small desk with stool.)

Accommodation (170m²)

4 unit types spanning 3 price brackets.

Outside (55m²)

The kitchen-dining is also the hub of the house with access through it to all other areas, having a u staircase branching mid rise with twin sides to each floor in an open section rising to the ceiling, it could be quite a feature of itself.

Whilst lacking any windows some glass bricks would be added, plus a skylight above the stairs. Additionally with 2 doorways through to the workspace, considerate lighting and decoratively surfaced walls and ceiling, it will not feel claustrophobic but rather more cosy.

Top roof terrace is suitable for yoga even as a small group (4–6) however group sessions better in the public gardens.

Layouts

Ground · common spaces + pods
1st · rooms + cells + library
2nd · rooms + lounge
3rd · rooms

Commercials

Net yield (on cost) at ~22%. Target revenue €90k/pa, 70k/pa during intial phase at discounted prices. Occupanccies at 70% mid season, 90% high, 50% low. 3 units retained, closed 2 months.

For competitive comparison refer to the investment introduction or compare on coliving.community.

Competition

2 colivings in adjacent valleys, yet they only have bus access, one at 1h20 train +40mins bus, the other 40mins train +2h30 on 2 buses being deeper into the mountains. This locatiton is 1h30 train.

Each will have a slightly different focus however this location might win for the transport and nice little town which neither the others have. This property will also be fitout specifically for coliving; one does have a very nice building, the other is a hotchpotch with nominal workspace.

Despite being in competition, this does not affect community and as one is 50mins drive meetups could occasionally be combined half way, the other is nearly 2h but again half-way meetups possible.

Operations

It is expected that the average stay will be one month, resulting in changeovers about one every 4 days, which given the rooms are mostly tiny, and common spaces efficiently laid out and fitted, is a fairly nominal amount of work between two.

Seasonality

High would be 3 months mid June through mid September, low would be Dec and March, with a 2 month closure for Jan–Feb.

(More graduated pricing would be used to ease across seasons and reduce demand shifts from the changes.) A special xmas-nye program will terminate the season. Opening for a month around the ski season (early Feb) could be worthwhile, as this would thus be a very affordable work-ski destination, however is not really worthwhile yet there may be demand for longer stays during the season in which case it would be offered, yet revenue maybe negated by the operational costs.

Works

Phasing

  1. kitchen, shared bathrooms, pods, cells, workspace
  2. bedrooms except mezzanine used as provisional lounge
  3. construction of new lounge on rooftop, 2 mezzanine bedrooms
Would be easily phased, and could commence with only slightly more capital than the purchase price. All would be ovseen by the founder whom has undertkane a couple of renovations in France, accompanied on occasional by a seasoned decorative renovator, and volunteers.

As the building requires very little prepatory works, and the fitout is mainly simple, the team would be mostly volunteers. The only intensive and repetitive work will be the significant number of bathrooms.

Construction of the new lounge would be simple being blockwork plus LVL with engineered wood i-beams.

Plumbing currently unknown, may require digging some trench for the ground floor bathrooms otherwise easy to retrofit.

Specifications

Functional and pleasant, avoiding budget chipboard aesthetic, making it appealing to return to! There'll be a few finishes that uplift, and things we won't skimp on are those that get used most, so solid wood kitchen surfaces and desks, good handles, hinges, taps, sockets, etc.
Building

Whilst a fairly boring building, as ever with large floral/abstract murals and climbing plants it would be pretty impressive, the stairwell could also be imposing and would accommodate some fetching full height decorations. The moulded facade would be touched up and repainted in a bright motif, also adding real climbing plants.

Workspace

Coworking desks giving ~1.3m per person at full occupancy, having simple adjustable chairs, plus many built-in USB-C (PD) sockets so adapters don't need to be dragged around nor clutter the place. Choice between individual desks, a shared table or chaise-longue. Oak flooring (provisionally original tommettes). Decorative sisal flooring on one wall to provide sound damping and add a cosy aspect. Some plants. Bike hooks.

Kitchen-Dining

Ample fridge and worktop space for everyone, with 2 primary stations yet that can support up to 5 working simultaneously. Simple reliable equipment such as stainless steel. 1 dishwashers is adequate. No convection heating, only IR panels (infrequent use), some ambient heat will transfer from the workspace as one door will generally be open. A circulation system will bring warmer air from the roof down to the floor. Oak flooring (provisionally original tommettes)

Library

No through foot traffic. Only some light mainly from the french door, but also from a small north window. Decorative seagrass, a sofa, bookcase and some trinkets, nothing else needed.

Lounge

A wood stove for winter ambience. Would accommodate almost everyone somewhat tightly on sofas and armchairs around the wall, or more comfortably with beanbags as well, easily arranged for films on a large TV screen with surround sound. Enough open space for games on the floor and could also be used as a party room for some dancing, which being at the top end of the building away from most bedrooms on the opposite side would not be intrusive, same for the workspace. Outer walls will be insulated on the inside but only with thin woodfibre as not used throughout the day, for the same reason only double not triple glazing will be specified.

Bedrooms

Flooring will be seagrass, decorative in plus, some may retain floorboards. For improved acoustic damping walls will use 2x plasterboard plus wood fibre insultation, but not decoupled. Some rooms will gain wall insulation with woodfibre board simply painted over.

Bathrooms

Ensuites will have a sliding door, generally 80cm deep. Sink in front of the door, with shower and toilet to left and right in plus, but in standard .

All WCs will be equipped with a bidet nozzle/douche. Waste pipes will be external avoiding noise, but visible (possible to disguise with climbing plants). Each pair of rooms will have a low profile 60–80L hot water tank (suitable for 2 short showers) mounted in the hallway, boosted with instant heating elements, providing instant hot water plus coverage in case someone uses all the tank.

Ambient environment

The kitchen, main workspace and lounge with small speakers on a proper audio system (not silly home assistants), allowing lively gatherings across the ground floor with the lounge quiet, or vice-versa. A film could be being screened or lively game take place in the lounge and one would still able to work or read quietly in the library or workspace.

Whilst few of us are likely eco-warriors I beleive it's good to have a healthy environment, and as such it's desireable to reduce exposure to microplastics (artficial fibres), VOCs (foam mattresses), artificial perfumes, electrosmog, etc. Simple steps can be taken even with budgetary constraints, such as using natural materials for flooring, natural mattresses (keeping a few foam ones for those with problems), wool duvets and blankets, and of course natural cleaning products. Gentle lighting also has impact. Whilst office chairs could be an exception, they and sofas should be possible to easily re-cover with natural fabrics.

Tech

A professional system with multiple WiFi hotspots running on a dedicated power-over-ethernet backbone, using low power to reduce interference (and electrosmog). You'll be able to seamlessly roam around without loosing a connection or dropping a videocall. Somebody streaming video won't impact workspace bandwidth, plus the at-desk USB-C power will include an ethernet connection thus in most cases laptop users will be on a seamless wired connection.

The location has fibre so bandwidth will not be an issue.

We prefer local face to face interaction and as such activities and outings will be planned and written up on boards, however we shall also use an app to ensure everyone gets last-minute gathering and household notifications.

Heating and cooling

The house will be entirely electric, however attempts will be made to reduce resource use and consumption. Water tanks will be activated based on occupancy.

During low seasons, convection heaters will provide a base ambient temperature, whilst radiant infrared panels will be used to boost this in the kitchen and lounge. Bedrooms would only have convection.

Heat pumps could be installed on the roof (but a significant distance) or side walls to cool and heat the coworking space and by transfer the kitchen.

Introduction   jacob@hub.house   WhatsApp   Book a call
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