Overview
In the heart of Montepulciano, Tuscany. An exclusive restoration project of a farm estate which includes existing farmhouses, annexes and farm buildings; new construction of a Tourist Residential area with the use of renewable
energy sources, whilst conserving and enhancing the natural environment.
Description Of Estate
This former important farm estate has an impressive and dominant hilltop
position, just 8 km from the town of Montepulciano famous worldwide for its vino
nobile and rosso di Montepulciano. Within the estate is a lake as well as a forest
area rich with flora and fauna with trails for walking or horse riding. Being in a
hilltop position (altitude 280m) there are sweeping views of the magnificent
Tuscan countryside and the surrounding valley (Val di Chiana Senese).
The estate has 4 distinctive areas each with its own particular characteristics on
which there are existing farmhouses, outbuildings, barns etc, typical of agricultural
establishments at one time operative in this region.
Potential
This is an exceptionally rare opportunity to develop a tourist property in the most
desirable part of Tuscany (Italy's most popular region for property development).
The local Council have approved plans as follows:
Renovation of existing buildings and new construction for a total of 10.000
m3 for residential purposes, including a further 3000 m3, to account for
balconies, porticos, loggias and garages).
Conversion and renovation for a total of 2000 sq. m of existing outbuildings into storage areas for sports equipment and necessary annexes/buildings
for maintenance and upkeep of the residences.
Restoration of existing farm buildings into a Tourist Residential village for a
total of 3200 m3.
The Project
The project is now in the final phase of defining the design of the individual of the
units which are sub-divided into 4 areas:
Zone 1
Restoration of existing farm buildings into a tourist residential village containing
studio, 1 & 2 bedrooms apartments, with a swimming pool for rental purposes.
(total 1,372 m2).
Zone 2
Restoration of this area where there is an original farmhouse and outbuildings into
3 detached stone farmhouses (casali) with either private pools and/or a large
communal swimming pool. (1373 m2).
Zone 3
New construction of two detached stone farmhouses close to the lake ( 526 m2).
Zone 4
A reconstruction of a Borgo typical of this area composed of approximately 15
detached and semi detached houses with swimming pool (2,890 m2).
Restoration and New Building work
The design of the project is being developed by an Italian architectural team with
experience of the area and in depth knowledge of what both Italian and foreign
buyers are looking for, in order to make this Development both unique and
desirable.
Strict regional guidelines must be adhered to in order to ensure that the buildings
will integrate fully into the Tuscan environment and landscape.
Layout, architectural designs and materials will be appropriate to the character
and appearance of the building and its setting and will include terracotta floors,
chestnut beams and exposed stone work. Balconies and ample terraces to enjoy
the views. Materials and workmanship will be locally sourced. Studies have been
made into the investment and use of renewable energy sources wherever
feasible (solar panels for production of hot water and electricity).
Recreational areas
The lake within the estate is an area of natural beauty that adds immense value
as it will provide a focal point of interest for all residents. This area will be
landscaped and will have a sandy beach area. It is ideal for boating, fishing and
swimming.
The forest area is ideal for horse riding, walking and many other seasonal
activities due to its rich flora and flora. Funghi and tartufo (truffles) can be found,
as well as sightings of wild boar and deer.
Accessibility
Optimal as A1 motorway is just 8km distance meaning that all
famous cities of art such as Siena, Florence, Arezzo, Perugia and renown
Tuscan towns such as Chianciano Terme, Chiusi, Pienza, Cortona, Montalcino
can be easily reached, as well as naturalistic oases such as the Lake of
Montepulciano and Lake Trasimeno.
Nearest airports: Pisa, Florence, Rome
Nearest Train Station: Chiusi (Milan - Rome line)
Key Market Indicators
Italy is now the fifth top destinations in the world and 3 in Europe for
British first time buyers looking to purchase abroad. The availability of
cheap air travel and favourable climate (average 24deg.) makes Italy hugely
popular as a year round destination. Tuscany in particular, receives over
10 million tourist visits annually.
This growing tourism market means there is a steady demand for tourism
rental of private houses in well located areas. Investors can make good
solid returns from holiday makers throughout the year, just as long as it is
near to an attraction such as a historic city, UNESCO heritage site, coast
or mountains. This will have a significant effect on rental yield.
Low cost air travel with a little over 2 hours flight from many North
European airports make short breaks feasible at any time. Florence and
Pisa airports are a 90 and 120 minute drive respectively.
Tuscany is the birthplace of the Renaissance movement and the region is
now famous the world over for its architecture and art. There are six main
protected UNESCO sites, from the historical centres of Florence and
Siena, the square of the Cathedral of Pisa with its leaning tower and also
the centres of San Gimignano, Pienza and Val d'Orcia, all easily
accessible from Montepulciano.
Add to this the famous Tuscan food and wine culture, with the Montepulciano wine region and you realise whyTuscany is popular throughout the year. All of this combined with good rental and capital returns will guarantee high sales for this development.In order to preserve the natural beauty of the Tuscan landscape. No further planning permissions will now be granted by the local Council in Montepulciano for new build projects, making this a rare and unique opportunity for a Developer.
Tuscany has a strong economy, not just centred on tourism, but also has a
wide industrial base covering manufacturing, science and technology.
Home to a 1.5 million workforce, it has welcomed over 350 multinational
companies to invest in the region. 3 universities add to the well educated
workforce, reflected with an above average GDP per capita. The success
of the economy ensures a high demand for property which in turn helps
force prices up.
With its high quality standards of living and good weather, Italy is an ideal
retirement option or for those looking to purchase a holiday home. For tax
purposes, if you live in Italy for more than 183 days a year, you are
classed as a resident. Live in Italy for five years and you avoid paying
capital gains tax.
In conclusion
The total collective restoration and new building works that have been approved amount to 6,161 m2.
Further details available.
