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  • Umbria
Price £756,115
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Property Description

In the centre of a small flat plain, just to the east of the TiberRiver; which the Italians, for reasons best known to themselves continue to call the Tevere; lies the remains of a farming community, a tenuta, which has the possibility of being restored and divided into a variety of houses, flats or appartments.

What makes this group of buildings unique is their proximity to a landing strip and a hangar for light aircraft. This estate, when fully developed will have the unusual luxury, of owners being able to park their personal aircraft within 50mt of their front doors. It is therefore, at least to our knowledge, the only “flying” estate in Italy, and even perhaps in Europe.

Obviously the size of the project will be daunting to many investors, but the numbers do add up, and the probability of making a substantial profit should be reasonably apparent.

Purchase cost: 950.000

Legal fees: 75.000

total: 1.025.000

Restoration costs, over a three year period 1350 sqmt x Euro 2000 per sqmt 2.700.000

Therefore total costs over a three year period some 3.725.000.

Current value, in this area, of a restored property, divided into units of 80 – 150 sqmt, with airstrip, landscaping, swimming pool etc etc, is E 3.500 per sqmt

Therefore for this site 1350sqmt x E 3500 = 4.725.000

Add the 10% annual increase in the property values in this part of Italy

And deduct 5% as the cost or value of the investment capital,

So, a net gain of 5% per annum for the three year period, 5% x 3 years 700.000 = 5,425,000

Or a return of over E 5.5m on an investment of some E 3.7m, about a third, some 33%. Obviously the figures can be juggled any way you want, but, the basic values/costs are; to buy is E 700 per sq mt, to fully restore E 2000 per sq mt

and to sell at E 3,500 per sq mt, and there are some 1350 sqmt.

The airfield is operational, so, if you’ve got a plane, why not fly down and inspect?

We have half a dozen other airfields within about 15 minutes flying, an annual air show, and within about 45 minutes Roma, Firenze, the Adriatic coast and also the Mediteranean sea, and good flying weather for most of the year.

The new Redbull UK airshow company may well be interested in a finished project.

Make Enquiry....

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