Construction has commenced on the only five residences in the world bearing the designer’s name. The project will be completed in the third quarter of 2024.
St Germain was the name of the street in Paris where Karl Lagerfeld always had his office; Ramatuelle, his favorite destination on the French Riviera; seven, his lucky number; “icon” was the adjective the industry always used to define his figure, and “runway,” the English term for a fashion catwalk. These names are also those of the five residences at Karl Lagerfeld Villas Marbella, which will be developed in collaboration with the Spanish company Sierra Blanca Estates and the international architecture studio The One Atelier.
The only properties in the world bearing the name of Karl Lagerfeld have announced the start of construction and the sale of the first one: Runway. The fortunate buyer is a Dutch entrepreneur. “He’s a former client of Sierra Blanca Estates who already invested in our first branded project on the Costa del Sol, Epic Marbella furnished by Fendi Casa; he fell in love with the project from the beginning and asked us to have the first option to purchase,” says Carlos Rodríguez, CEO of Sierra Blanca Estates.
The project’s figures are haute couture, as detailed by the Marbella entrepreneur: “The sale price of this first villa is close to 15 million euros. As for the investment, it has been a total of 51 million euros: 20 million for land acquisition, another 20 million for the project, and 11 million for other expenses related to intellectual property, marketing, etc.”
Beauty lies within: The initial glimpses of the interior of Karl Lagerfeld Villas Marbella have also been unveiled. These residences will span across four floors: a main floor where natural light will flood spaces like the living room, dining area, or kitchen, seamlessly connecting with the outdoors; an upper floor housing master bedrooms with views of the mountains and sea; a rooftop solarium with a pool; and a basement featuring parking, a cinema, and a spa. Outside, there will be another pool, a pond, a meditation room, and vegetation islands inspired by Karl Lagerfeld’s favorite gardens.
With no price cap for the other four residences still available, the developer knows that “the value will increase as the construction of the residences progresses. We received an offer from an investment fund to acquire the five villas a few weeks ago, but we rejected it because it’s not the way we want to conclude this very special project. We’re looking for the ideal owners who can see the original value that each house holds.” One of these values will be a concierge service and those typical of a five-star hotel.
While the rise in energy bills may not be a concern for these buyers, they do seek sustainable ethics in the villas. “We are committed to developing a sustainable luxury model,” says the executive, noting that they will feature solar panels, a rainwater collection system, green facades, or water mirrors to enhance the natural climate control of the homes.
Marbella seems to be well sheltered from the recession. Rodriguez acknowledges seeing the highest luxury residential sales budgets in history. “This destination has shown to defend its virtues very well on an international level,” he says.
