After a castle in the French region of Grand Cognac started to crumble, French preservation and restoration groups started a crowdfunding campaign in which anyone can buy a piece of the castle for 50 euros, or around $55. Those who invest in the Château de Vibrac will receive a garden plot with their name on it, lifetime access to the castle grounds as well as voting rights on decisions relating to the castle’s future.
The Chateau, which spans 12 acres on the island of Charente and was once home to French nobility, has been sitting abandoned for more than a century. To restore the castle, Dartagnans.fr and preservation association Adopte un château are attempting to raise more than a million euros by selling partial ownership rights. So far people from more than 45 countries have raised more than 175,000 euros, according to CNN.
With the funding, the campaign seeks to restore the castle grounds for community events, organic gardening and eco-friendly guest cabins. But before that happens, the organizations need to raise enough cash to control the vegetation currently popping up all over the chateau. The castle has been sold off, besieged and sitting abandoned from the Renaissance to today and, as a result, has some signs of decay on its walls and interior.
This isn’t the first time that Daertagnans and Adopte un château have crowdfunded ownership rights to French chateaus. Mothe-Chandenier in Northern France and Ebaupinay in the Deux-Sevres region were both purchased by the organizations and then sold off to those interested in owning a part of history.
Are you ready for what the industry holds in 2020? Inman Connect New York is your key to unlocking opportunity in a changing market. At Connect you will gain insight into the future, discover new strategies and network with real estate’s best and brightest to accelerate your business. Create your 2020 success story at Inman Connect New York, January 28-31, 2019.
Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.