COQUELLES - Parc Commercial La Française

ClubFunding Commercial real estate Financé

Ce projet est clôturé. L'analyse ci-dessous reflète les informations disponibles au moment de la souscription et n'a pas été mise à jour.

COQUELLES - Parc Commercial La Française

Average

score / 100

Yield

12%/yr

Duration

12 months

Min. ticket

—

Amount raised

3.1 M€

Invest →

À propos

Acquisition of commercial premises 2 566 m² in Coquelles (62) in La Française commercial park, formerly occupied by Lapeyre, by operator AXMA CAPITAL (Axel Herbez). Property trader / CBI strategy: acquisition at 3 762K€, renovation works and solar panels (500K€), lease-out (10-year lease signed with On Air Fitness on cell 3), then resale in real estate credit-lease at 12-month target at 5 340K€. Land under signed promise, permit cleared, acquisition not yet finalised.

Plateforme · 17.5/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence from AMF currently valid under European regulation 2020/1503
Highest status on the grid
Score adjusted thanks to live data: confirmation of active agrément AMF licence

A2 · Track Record 3.5/6

Score adjusted thanks to live data: default 0.09% (<1%) → 6 pts; delay >6 months 32.23% (30-50%) → 1.5 pts; actual vs announced return N/A → 0 pts
Calculation: (6×0.5)+(1.5×0.3)+(0×0.2)=3.45, rounded to 3.5/6

A3 · Rigueur de sélection 1.0/4faible

No published selection rate or detailed process description identified in available data
Established platform (since 2015) and recognised on the French market

A4 · Santé financière 3.0/4bon

Independent platform, operational since 2015 (9+ years), >€1bn funded, no collective insolvency proceeding against ClubFunding itself
Portfolio delays fall under A2, not A4
Absence of stress signal at platform level

A5 · Protection investisseurs 2.0/3

agrément AMF licence → 4-day cooling-off period plus mandatory continuity plan (1 pt)
Segregated accounts via third-party PSP presumed compliant with agrément AMF (1 pt)
Secondary market not documented in available data (0 pt)

Projet · 39.0/75 (44.0 brut, red flags −5)

B1 · Instrument & Structure 9.0/10bon

B1.1: 5/5 - Simple obligation fixed rate French law

B1.2: 3/3 - Dedicated société dédiée (SPV) SAS WF COQUELLES 26, distinct issuer

B1.3: 1/2 - Priority ranking claimed, first-ranking mortgage registered and documented

B2 · Opérateur & Track record 8.0/15

B2.1: 3/4 - Axel Herbez appointed, functions specified, LinkedIn not confirmed in live data

B2.2: 3/5 - Axma Capital created 2023, several RE-COM operations documented, solid commercial real estate experience via Arthur Loyd

B2.3: 1/3 - First operation on ClubFunding, reputation not verified

B2.4: 1/3 - Very recent companies (2023-2026), tight balance sheets, recent capital increases

B3 · Garanties & Sûretés 11.0/15

B3.1: 9/9 - First-ranking mortgage registered on asset, trust over 100% société dédiée (SPV) shares, GAPD holding GYMTONUS, GAPD foncière MALARTIC, director personal guarantee, pledge of rents, assignment of VAT receivable

B3.2: 2/4 - GYMTONUS fonds propres not precisely quantified, gearing not calculable with precision

B3.3: 0/2 - Insight line 600K€ mentioned but not classic bank; no bank named

B4 · Structure financière 8.0/15

B4.1: 3/5 - Loan-to-Value (ratio prêt/valeur actif) ~58% (3 100K€/5 340K€ BNP expertise); range 60-70% RE-COM → 3 pts

B4.2: 1/4 - Operator capital contribution not documented, société dédiée (SPV) capital 500€, near-total debt financing

B4.3: 2/4 - Loan-to-Value (ratio prêt/valeur actif) ~58% relatively low, no formalised stress test

B4.4: 1/2 - Target IRR based on SG CBI but cells 1&2 vacant, partial strategy

B5 · Pré-commercialisation 5.0/10

B5 RE-COM: 10-year lease signed with On Air Fitness on cell 3 (1 625 m² of 2 566 m²)
Arthur Bonnet LOI refused by AXMA for financial risk
Cells 1&2 vacant, negotiations ongoing
CBI SG offer received at 3 875K€
Partial coverage ~63% leased area

B6 · Permis & Maturité 3.0/5

Land not yet finalised (promise signed 11/12/2025, extension reiterated beyond 30/04/2026)
Planning permit filed 12/12/2025 and cleared 05/05/2026
Acquisition under promise = score 2-3 pts RE-COM; cleared permit is positive
Score 3/5

B7 · Marché & Localisation 0.0/3faible

Score adjusted thanks to live data: office/commercial market in documented decline (market_trend=declining)
Coquelles secondary market, France office crisis 2026, high vacancy rate
Cells 1&2 without tenant
Score 0/3

⚠ Alertes détectées · −8 pts déduits

Pas de financement bancaire −5 pts

No classic banking partner identified on 3 100 000€ project (>2M€) - Insight line 600K€ not qualified as bank credit.

Terrain pas encore acheté −3 pts

Le terrain de l'opération n'est pas encore acquis au moment de la levée de fonds. L'opération peut ne jamais démarrer si l'achat échoue.

Points forts

✓First-ranking mortgage registered + trust over SPV shares + dual GAPD: multiple real securities.

✓10-year lease signed with On Air Fitness (group 129M€ turnover 2024) on main cell.

✓Buyback offer received from SG at 3 875K€, validating exit strategy.

✓BNP expertise valuing asset at 5 340K€, theoretical LTV ~58%.

✓Assignment of VAT receivable notarised 627K€ notified to Public Treasury.

Risques identifiés

!Cells 1 and 2 (937 m²) without tenant; Arthur Bonnet LOI refused for financial risk.

!Land not yet finalised at document date - promise extended beyond 30/04/2026.

!Commercial/office real estate market in documented decline at Coquelles (secondary market).

!Very recent operator (2023), SPV created 28/04/2026, barely established balance sheets, recent capital increases.

!Insight line 600K€ in pari passu dilutes securities; no classic banking partner identified.

⚠ Avertissement sur les risques

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