Designed by renowned architect Arturo Montanelli - Excellent Potential for capital growth.

Stunning Location with views of Lake Como with Bellagio ‘framed’ against the mountains.

Secure parking, luxury kitchen and communal pool with views of the lake.

The “Tailormade Investment Village” in Menaggio, Lake Como is a premier development on the lake. The stunning design by the renowned architect Arturo Montanelli and prime position on the Menaggio hillside ensures these 7 single level villas will stand out as the best luxury properties on the Golden Triangle of Lake Como, Italy.

Combining spacious living areas and a specialist design built into the hillside these luxury villas will be one of the most sought after addresses in the area.

Features
Why is this an outstanding luxury investment opportunity?
Development

7 Best Invest are offering 7 world-class villas all with spectacular views of Lake Como. Available is one 2 bedroom 1 bathroom villa of 81m2 living space with secure parking, five 2 bedroom 2 bathroom villas of 139 m2 with secure parking, and 3 bedroom 4 bathroom villa of 180 m2 – which will be one of the most sought after properties in Menaggio. All villas have solariums and green terraced areas of substantial proportions. The development is situated on a hillside on a street overlooking Menaggio. The development is scheduled to be completed by March 2009, with all communal areas by May 2009.

Specification

The villas are arranged over five levels rising up the hillside. The structure is built from concrete with reinforced concrete and steel foundations with the finish of the facade in local stone and expansive windows which let in the natural light, however, as well as being secure they have automatic darkening for solar protection in high Summer. Each villa includes fully fitted bathrooms and gas central heating, but includes environmentally friendly designs that utilise the solar heat through the fully draining grass covered roofs and by the fact that they are built into the hillside. Luxury fitted kitchens are provided, including white goods – many Italian Properties do not come with kitchens. Tiled ceramic floors will be fitted throughout with parquet in selected areas. Each villa comes with a secure garage and there is a communal pool located at the entrance of the development. The secure garage is in the basement level and access to each level is by a sophisticated lift.

Location

Located, in our opinion, on the best part of Lake Como. On a hillside in the village of Varenna, overlooking the town of Bellagio. The villas are located on the outskirts of Menaggio. Located on the best part of Lake Como overlooking the town of Bellagio across the lake from Varenna – this is the ‘Golden Triangle’ of Lake Como.

The villas sit on a hillside with unobstructed views of the Lake, 5 minutes drive by car from the shops, restaurants and cafes of Menaggio. Lake Lugano is a 20 minute drive away and the oldest golf club in Italy, Menaggio and Cadenabbia Golf Club, sits minutes away from the Villas with its spectacular views and undulating course.

Milan is an hour 30 minutes drive away with all its worldly pleasures and amazing shopping. Theatre and cinema flourish in this fashionable city, it's lifestyle that counts. Skiing is only 40 minutes away, where four pistes can be found, for the real enthusiast St. Moritz is only 1 hour 30 minutes away.
Getting there:

Milan’s airports are served by most major airlines flying from all the major hubs. There are also plenty of budget airline flights from Stanstead, Luton, Manchester and other UK airports which fly to both of Milan’s airports.

Frequently Asked Questions

Q; Freehold – how does this work in Italy?

A; All apartments are freehold. This means the buyer owns their physical apartment and share of land the building is built upon. Buyers will be granted full title.

Q; What is the target completion date of the whole project?

A; March 2009 for the villas and May 2009 for entire site including pool.

Q: What is included in the Interiors?

A; All villas will be completed to the highest finishes. Fully fitted bathrooms and kitchens with white goods are included, along with all light fittings. A mixture of ceramic tile and parquet flooring is also included.

Q; Are there swimming pools?

A; There is one swimming pool with stunning views.

Q; What Security is planned for the project?

A; The development is not gated as this is not required on Lake Como. Every villa is fully secure with modern secure locking doors and windows secure parking in the basement and secure lift access.

Q; What are the likely property /local /council taxes the owner would incur?

A; compared to the UK, annual property taxes are lower; like the UK the figure is geared to the size of the property. Budget a gross amount of approx. €1200 to €1500 per annum. As soon as the property is finished and an ICI tax assessment completed we will be able to confirm actual costs.

Q; What are the proposed service charges?

A; These will be set after completion. No firm prices have been received, however we estimate the total costs to be circa €150/month for the apartments, this would cover gardening, pool cleaning and general maintenance.

Q; Where exactly is the Development?

A; 5 minutes from the centre of Menaggio’s waterfront on the outskirts of the town. It is set in an elevated position and has the advantage of breathtaking views over the Lake and valley.

Q; What is the flight time from the UK?

A: London is just over 1 hour 30 minutes by air from Milan’s airports.

Q; Who is the builder?

A: The development team have extensive experience of developing in Lake Como and around the region, and have appointed the world renowned Arturo Montanelli as their architect and Project Manager. The Developers own team of professionals will oversee the work, and as always 7 Best Invest track the progress of all our developments.

Q; What is the method of construction?

A: The main structure is a concrete and steel reinforced frame with stone covered walls to exterior. All internal walls are formed using block work and finishing plaster. The external facade is finished with a mix of stone and high quality glass at 5 cm for the expansive windows. All construction detail is carried out to the highest standard and is inspected throughout the build process by independent surveyors and structural architects.

Q; Can I visit the site during construction?

A: Yes, site visits can be arranged so that you can be satisfied as to the construction of the building.

Q; Who will maintain the building and grounds?

A; The maintenance managing agent will be responsible for ensuring the building and gardens are thoroughly maintained.

Q; Can I purchase the property with a mortgage?

A; Yes our Client Support Unit and Operations Director in Lake Como can assist with this. Typical loan to value is 70%.

Q; Can you recommend a lawyer to assist with the buying process and what do they charge?

A; Yes again our Client Support Unit and Operations Director in Lake Como can assist with this. We recommend two Italian Avvocato’s who practice in the UK and are regulated by the English Law Society. They have acted for many of our client’s on Lake over the last two years. You should budget for £500 to £750 depending on how involved you want them to be.

7 Best Invest recommend the most cost effective approach is to request they give you peace of mind that the Preliminary Sales Contract is suitable for the purchase and that they verify our due diligence documents such as proof of title and correct planning permission.

The completion of the purchase is undertaken by a state appointed notary and you should budget 2.5% to 3.5% of the purchase price for notary fees and other completion costs. 10% tax or IVA (property tax) is also payable on the net purchase price.