Italian Hospitality Estate (value add/ development opportunity)

Hospitality and residential estate in Lombardia, Northern Italy, offering an attractive value-add and development opportunity. Set within approximately 11,000 m² of private grounds, the estate provides 1,400 m² of 'livable space'/accommodation across four principal buildings, including established guest accommodation, three independent residential apartments, event and banqueting space, offices, extensive ancillary areas and a swimming pool. The property is currently operated on a deliberately limited seasonal basis rather than to maximise commercial performance. During operating periods, the owners report average occupancy of approximately 80%, despite intentionally restricting availability on certain nights. Considerable potential exists to expand the operation. A previous study undertaken by the owner with his adviser identified scope to approximately double existing guest capacity by converting currently underutilised accommodation, create a 40–50-cover restaurant within a former stable, and potentially achieve annual turnover in the region of €400,000–€500,000 if the hospitality operation were fully developed and utilised. The owner further advises that applicable municipal planning provisions permit more than 1,000 m³ of additional built volume, equivalent to approximately 350 m². There may also be an opportunity to acquire adjoining land, subject to separate agreement. The estate is therefore positioned as a hospitality value-add and repositioning opportunity, offering an incoming investor significant scope to expand accommodation capacity, develop additional revenue streams and unlock further value from the existing asset. Energy rating across all buildings is A.