The Santo Spirito Island just off the coast of Venice has been recently put to sale. The island covers a total surface of over 8,000 square meters, from which 4,500 got supposedly high potential of being constructed on, and 3,500 are covered with historical structures and vestiges of old civilizations.
Colliers International is the owner of the mandate that puts the island on the market for a price of €28 million. The spot is currently undergoing restorations and trials to recover the pieces of history laying on it. The construction plans for it are limited to residential areas, offices and resorts, but, considering the layout of the island and the potential it has, it may well become a great resort or the location of a luxurious hotel.
Massimo Saporito, head of Investment Services for Colliers International in Italy, declares that “Investors have the unique chance to customise an island to their own needs” and “furthermore, the local real estate market is dealing extremely well with the economic instability thanks to a solid demand for high end properties”. This alone may attract high-class investors.
The Island can also be easily accessed from Venice, being very close to Lido and Giudecca, and 10 minutes away from San Marco Square by boat. The island was the site of an old monastery, dating back to the 12th century, and later attracting royal families, noble travelers and traders, diplomatic delegations and gathering places for balls and high-end parties.
The place is currently under the ownership of Poveglia Ltd., an association of Venetian real estate entrepreneurs that grouped up to salvage, restore and promote historical spots. In hope that the island will be purchased by serious companies or businessmen, we are looking forward to seing it done up and ready to receive us.
[PropGoLuxury]
