About the property

OverviewIn 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 renewableenergy sources, whilst conserving and enhancing the natural environment.Description Of EstateThis former important farm estate has an impressive and dominant hilltopposition, just 8 km from the town of Montepulciano famous worldwide for its vinonobile and rosso di Montepulciano. Within the estate is a lake as well as a forestarea rich with flora and fauna with trails for walking or horse riding. Being in ahilltop position (altitude 280m) there are sweeping views of the magnificentTuscan countryside and the surrounding valley (Val di Chiana Senese).The estate has 4 distinctive areas each with its own particular characteristics onwhich there are existing farmhouses, outbuildings, barns etc, typical of agriculturalestablishments at one time operative in this region.PotentialThis is an exceptionally rare opportunity to develop a tourist property in the mostdesirable 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 10.000m3 for residential purposes, including a further 3000 m3, to account forbalconies, 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/buildingsfor maintenance and upkeep of the residences.Restoration of existing farm buildings into a Tourist Residential village for atotal of 3200 m3.The ProjectThe project is now in the final phase of defining the design of the individual of theunits which are sub-divided into 4 areas:Zone 1Restoration of existing farm buildings into a tourist residential village containingstudio, 1 & 2 bedrooms apartments, with a swimming pool for rental purposes.(total 1,372 m2).Zone 2Restoration of this area where there is an original farmhouse and outbuildings into3 detached stone farmhouses (casali) with either private pools and/or a largecommunal swimming pool. (1373 m2).Zone 3New construction of two detached stone farmhouses close to the lake ( 526 m2).Zone 4A reconstruction of a Borgo typical of this area composed of approximately 15detached and semi detached houses with swimming pool (2,890 m2).Restoration and New Building workThe design of the project is being developed by an Italian architectural team withexperience of the area and in depth knowledge of what both Italian and foreignbuyers are looking for, in order to make this Development both unique anddesirable.Strict regional guidelines must be adhered to in order to ensure that the buildingswill integrate fully into the Tuscan environment and landscape.Layout, architectural designs and materials will be appropriate to the characterand appearance of the building and its setting and will include terracotta floors,chestnut beams and exposed stone work. Balconies and ample terraces to enjoythe views. Materials and workmanship will be locally sourced. Studies have beenmade into the investment and use of renewable energy sources whereverfeasible (solar panels for production of hot water and electricity).Recreational areasThe lake within the estate is an area of natural beauty that adds immense valueas it will provide a focal point of interest for all residents. This area will belandscaped and will have a sandy beach area. It is ideal for boating, fishing andswimming.The forest area is ideal for horse riding, walking and many other seasonalactivities 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 allfamous cities of art such as Siena, Florence, Arezzo, Perugia and renownTuscan towns such as Chianciano Terme, Chiusi, Pienza, Cortona, Montalcinocan be easily reached, as well as naturalistic oases such as the Lake ofMontepulciano and Lake Trasimeno.Nearest airports: Pisa, Florence, RomeNearest Train Station: Chiusi (Milan - Rome line)Key Market IndicatorsItaly is now the fifth top destinations in the world and 3 in Europe forBritish first time buyers looking to purchase abroad. The availability ofcheap air travel and favourable climate (average 24deg.) makes Italy hugelypopular as a year round destination. Tuscany in particular, receives over10 million tourist visits annually.This growing tourism market means there is a steady demand for tourismrental of private houses in well located areas. Investors can make goodsolid returns from holiday makers throughout the year, just as long as it isnear to an attraction such as a historic city, UNESCO heritage site, coastor mountains. This will have a significant effect on rental yield.Low cost air travel with a little over 2 hours flight from many NorthEuropean airports make short breaks feasible at any time. Florence andPisa airports are a 90 and 120 minute drive respectively.Tuscany is the birthplace of the Renaissance movement and the region isnow famous the world over for its architecture and art. There are six mainprotected UNESCO sites, from the historical centres of Florence andSiena, the square of the Cathedral of Pisa with its leaning tower and alsothe centres of San Gimignano, Pienza and Val d'Orcia, all easilyaccessible 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 awide industrial base covering manufacturing, science and technology.Home to a 1.5 million workforce, it has welcomed over 350 multinationalcompanies to invest in the region. 3 universities add to the well educatedworkforce, reflected with an above average GDP per capita. The successof the economy ensures a high demand for property which in turn helpsforce prices up.With its high quality standards of living and good weather, Italy is an idealretirement option or for those looking to purchase a holiday home. For taxpurposes, if you live in Italy for more than 183 days a year, you areclassed as a resident. Live in Italy for five years and you avoid payingcapital gains tax.In conclusion The total collective restoration and new building works that have been approved amount to 6,161 m2. Further details available.