Full Description

***Stop Press***

We have held the prices on phase 1 since launch in July 2006. Only 3 left and prices to rise in mid-December - will still be below market value.

Investment Village - Varenna, Phase 1

• A Great Opportunity to purchase in the first phase of just 20 luxury apartments
• The area should be visited to appreciate its natural beauty
• Each apartment has a private balcony, garaged parking and communal swimming pool
• Up to 80% LTV mortgages available
• Rental income of over €15,000 pa
• Now ready for occupation

Location

Located, in our opinion, on the best part of Lake Como. On a hillside in the village of Varenna, overlooking the town of Bellagio across from Menaggio – this is the ‘Golden Triangle’ of Lake Como. 1 hour from Milan Malpensa airport, 50 mins from Bergamo airport and 45 mins from the smaller Lugano airport via Menaggio. The development is less than a 10 min walk from Varenna railway station, from where trains go to St. Moritz (45 mins) and Milan (1 hour). There is also a breathtaking golf course up on the hills overlooking Menaggio (accessed by the regular ferries from Varenna harbour). Varenna is known as the ‘mini Portofino’ after one of the most expensive towns in Italy!

This is a rare opportunity to acquire a luxury apartment at an affordable price in one of the most outstanding and prestigious locations in Europe. Its position overlooking the Lake in a sought-after village, will ensure that the values of these apartments will rise substantially. We see them as a hold for at least 5 years after completion.

Excellent Rental Potential

Varenna is in an excellent position and a very popular location for both investors and tourists. The town receives 48,000 to 50,000 requests for accommodation per annum, but there are only 250 beds per night in Varenna. This is naturally a very healthy situation for an investor, with little scope for further development of property. Expected rentals for one beds are €500 pw off-season, and €700 pw high season with expected annual income in excess of €15,000.

Investment Background

The location of these apartments on a hillside with unobstructed views are guaranteed for life as there is no possibility to build in front of them. The development is also very close to the centre of Varenna with access to its restaurants, harbour and regular ferries to Bellagio and Menaggio. This makes it an ideal candidate for capital growth and rental demand – but at very affordable prices as a result of us securing the units at wholesale value (much lower than comparable new builds in the area).

“These luxury apartments are situated in a prime location overlooking a prestigious part of Lake Como - they offer excellence in quality of build, style and comfort. An outstanding investment with huge potential for growth in capital values with purchase prices of the apartments some way below market value. They are ideal for both investment and personal use. We strongly recommend this development.”