Full Description

Investment Village, Varenna Phases 1, 2 and 3

 Impressive 1 and 2 bed apartments, 1 bed mini penthouses and 3 and 4 bed luxury penthouses. Apartments from £176,000 to £503,000 for a 4 bedroom penthouse. We are proud to announce that all 2 bedroom apartments have sold out in phases 1 & 2. Two beds available in new Phase 3 already 50% sold.Huge potential for capital appreciation (over 50% expected in 5 years) - Below market value

• All apartments have commanding views of Lake Como and the mountains
• The area should be visited to appreciate its natural beauty and spectacular views
• 5000 euros to reserve, plus 30% deposit required to exchange, no further payments until completion
• Each apartment has a private balcony, large 2 car secure garages and a large swimming pool. Ground floor apartments all have gardens still affording exceptional views of Lake Como
• Large 2 bed 2 bath apartments available with over 1200 square feet of living area
• 4 bed 2 bath penthouses over 1900 square feet, which are probably the most exclusive apartments on the Lake
• Up to 80% LTV mortgages available; we have a close professional association with a local Italian Bank who we are happy to introduce our clients to
• Net rental income of €15,000 to €25,000 pa - Work is scheduled to complete March 2008

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 - Lake Como's 'Golden Triangle'. 1 hour from Milan Malpensa airport, 1 hour 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).  Live in the peace and tranquility of the lake, surrounded by mountains, with the ability to be in the sophisticated centre of Milan in one 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 locations in Europe. From our success in selling phase 1 we know that this is a superb development. The position above the Lake in a sought-after village, will ensure that the values of these apartments will rise substantially. Phase 2 includes some superior 2 bedroom and 4 bedroom penthouses which bring the whole site to a new level. We see them as a hold for at least 5 years after completion. A visit to appreciate it outstanding beauty is a must"Excellent Rental PotentialVarenna 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 with a limited supply of rental accommodation. This is naturally a very healthy situation for an investor, with little scope for further development of property. Expected net rentals for one beds are over €15,000 pa and over €20,000 pa for 2 beds.Investment BackgroundThe 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 (lower than comparable new builds in the area). "These luxury apartments are situated in a prime location overlooking a prominent 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 below market value. They are ideal for both investment and personal use. We strongly recommend this development."