Casa Lavanda LE MARCHE, ITALY
Casa Lavanda is on sale for â‚Ź195.000. This is a large property, with 5 bright bedrooms, a wonderful swimming pool and pool house, loggia and pergolas strategically placed so you can enjoy dining wherever the shade may be, a lovely garden and several hectares of land planted with vines and olive trees. Everything you expected from a beautifully restored farmhouse in Italy. So why the very low asking price? About 18 months ago there was a landslide that took away the access road. Unable to rectify the problem for lack of funds the vendors prefer to walk away from their Italian dream with minimum fuss. The extent of the work that needs doing is documented at the end of this short presentation.
The Opportunity Following unprecedented rainfall in March 2011, a landslide badly affected a field, belonging to a neighbour, East of the house. About a year later, given that no remedial work had been done and after a record breaking snowfall, a further landslide took away part of the access road and the main gate to the house. The house itself has been built on piles dug into the bedrock and is therefore safe. The back garden, on the other hand, needs protecting from further land slippage and to this end the rainwater flowing off the field above the house must be channelled to another area and a retaining wall must be built. The estimated cost of the work, which includes building a new access road, is less than €200.000. The opportunity is to own a beautiful 5 bedroom house with pool that in today’s market is worth at least €600.000, having bought the house and completed the remedial work for less than €400.000. In addition, it is possible to insure against further land slides.
Main house: 5 bedrooms, 3 bathrooms, 1 reception room, kitchen, dining room, and 2 large verandas. All services are connected. The house is Ready to move into. Land: About 4 Ha including a landscaped garden, a South facing vineyard and an olive grove. Location: 3 km from the village of Penna San Giovanni in the province of Macerata, Marche Region. 30 mins. to the coast and to the mountains. Potential Rental Income: â‚Ź3000/week .
Guide Price: â‚Ź195.000 + the cost of work (see page 13)
David Parish email@example.com +39 388 891 7574 www.vinciproperties.com
Published on Dec 6, 2012