ConfidentialThis report has been prepared solely for the partners of Bataille Invest Original S.L. and is strictly confidential. It may not be reproduced, forwarded, published or disclosed to any third party, in whole or in part, without the prior written consent of the company.
Not an offerThis document is provided for information only. It does not constitute an offer to sell, a solicitation of an offer to subscribe, or an invitation to invest in any security, fund or instrument, in any jurisdiction.
Unaudited figuresAll amounts are drawn from management accounts at the close of the second quarter, 30 June 2026, and have not been audited or independently verified. They remain subject to revision once the current period is consolidated.
Forward-looking statementsTarget sale prices, returns, ROI percentages, cycle durations and dates are estimates based on assumptions current at the date of this report, including construction costs, licensing timetables and market conditions. Actual outcomes may differ materially. Nothing in this report is a guarantee of result.
Past performanceThe completed outcome of Tukan is no indication of the outcome of Arenys, White or any future operation.
ArenysTerms are agreed with a purchaser but the sale has not been executed before a notary at the date of this report, and remains conditional on registration of the new-build declaration at the Land Registry. No assurance is given that the transaction will complete, or complete on the terms described.
WhiteThe intervention project and the environmental licence have not been granted, and no independent valuation of the building has been obtained. The revised exit price is a management estimate that assumes both licences are granted and that the building works proceed as scheduled. It will be reviewed each quarter against actual progress.
Number 8Avinguda d'Alacant 8 is owned by BI ALACANT 8 S.L., a separate vehicle. It is not an asset of Bataille Invest Original S.L., confers no right or interest on the partners of this vehicle, and is excluded from every figure in this report.
Third-party materialPhotographs and correspondence relating to the purchasers of Arenys are reproduced in confidence for the partners of this vehicle only. They must not be copied, forwarded or published.
No adviceNothing in this report constitutes legal, tax, accounting or investment advice. Partners should rely on their own advisers, particularly in respect of Spanish property transfer tax and of their own fiscal residence.
Governing documents prevailThe rights and obligations of each partner are governed exclusively by their executed subscription and loan documentation. In the event of any discrepancy between this report and those documents, the documents prevail.
CurrencyAll figures are stated in euro (€) unless otherwise indicated.
