This is a very, very rare opportunity to acquire one of the jewels of Italy’s heritage. Located near San Terenziano, this ancient 1,000 sq. metre Umbrian castle, dating from 1300 AD, with its extensive grounds of 80,000 sq. metres is now exceptionally on the market for sale by private treaty.
Originally the family seat of the Tolomei and Orsini families, the castle was extensively restored under the supervision of the Ministero dei Beni Culturali and awaits a new owner with creativity and vision.
The price would be the subject of negotiation with the vendor’s agent, but could attract a 60% LTV (Loan to Value) mortgage if the property were to be professionally restored for domestic but not business use. A B&B of up to 10 rooms is considered as domestic use in Italy and thus an Italian mortgage may be possible.
For the more adventurous buyer the commercial opportunities presented by this property are literally stunning. Whilst bank mortgage funds would be unlikely to be available for a commercial project it would be reasonable to hope to raise sufficient funds for the business plan, including purchase, restoration and initial operating budget and marketing, via crowdfunding.
More details can be found at: http://www.vistalagohomes.com/Property-Details.aspx?PropertyRef=1290OR
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