Abruzzo Property Development
A brand-new Italian property on a big site in the heart of Abruzzo? One of our local friends thinks this could be a project that might interest you…
This blog’s really a favour to my friend Pierino, who’s building a brand-new house just outside Lanciano and reckons it might appeal to the discerning readers AboutAbruzzo attracts.
Funnily enough, in one particular way, he could possibly be right.
First, the estate-agency bit. This is a very big build on a very big plot. The house will be some 500 square metres – or if you prefer, around 5,400 square feet – on a plot of 12,000 square metres. Which is just a nudge under 3 acres.
Or just a jungle in need of a man with an earth-mover.
But an undisputed plus is that a 10-minute drive will see you in the middle of Lanciano. Less than an hour from Pescara airport and one of our favorite towns.
What Pierino plans to do is finish the construction up to the point where the walls are up and the roof’s on and then stop.
The idea being that the fortunate new owner can then complete it to their liking.
For this, Pierino will be happy to relieve you of something like €360,000. And if you feel like getting him to finish it all off for you to the stage where you get the front door key, walk in, kick your shoes off and put the kettle on for a cup of tea, be prepared to sit down and with trembling hand, write him a cheque for €600,000.
Yes, bearing in mind that the average family would need a satnav to find each other in this vast edifice, I think that’s pretty unlikely too.
Remembering the never-ending popularity of those TV shows about property development, this project might just be one to bring a gleam to the eye of some thrusting entrepreneur.
How ? To my simplistic way of looking at it, with three massive levels, this property could easily be split into three generously-sized units of around 165 square metres each.
Or 1776 square feet. How patriotic would that be for anyone from the US seeking an Italian base ?
A little modest negotiation on the current €360,000 asking price; a little budgetary restraint in bringing the project to completion; and an asking price of a much more realistic €225,000 or so for each of the three resulting units would enable a reasonable return.
Drop me a line if it tickles your fancy and I’ll let Pierino know.