For sale cottage in quiet zone Neive Piemonte

Set among the wine hills of the Barbaresco production area, Neive is one the Langhe wine country’s most distinctive localities and as such included in the UNESCO World Heritage Area of Piemontese wine landscapes. It has also been awarded the distinction as one of “Italy’s most beautiful villages”.

Just a few steps from the village’s historic center, we offer for sale a newly developed property designed to become a choice hospitality business.

Integrated into the spatial layout of the old town and respecting its sloping terrain, the property consists of two buildings set around a core, a layout that gives each unit the best exposure and the most panoramic view. The built-up area measures altogether 1200 square meters of floorspace on a 5000 square meter parcel of land. Depending on the size of the units, it is possible to create between 11 and 21 single accommodations consisting of suites for between 2 to 6 guests that feature a living room with a kitchen section and a bedroom or just bedrooms with baths. The current state of the project allows for maximum flexibility as to the kind and size of accommodations to be realized according to the type of hospitality business that is preferred: guest rooms with baths or self-catering suites with kitchens and baths. All units benefit from Southern exposure. Garages are set in the basement.

The project is at a very advanced stage with about 90% of construction work already completed (main walls, partitions, windows, electrical wiring, plumbing, heating; yet to be finished are floors, interior doors and bathroom fittings). It is possible to build a pool on the grounds.

The property is accessed on an asphalt road leading to the single accommodations and the basement garages. Additional free parking spaces are present along the said access road.

The purchase conditions are very flexible which we consider to be this offer’s additional notable advantage. The transaction will be carried out as a sale of shares of an LLC (Limited Liability Company) that has been set up specifically for this purpose. The initial investment can start with a 30% share of the company corresponding to ****** €uro, which values the entire property in its current state at 1.150.000 €uros. The cost of completing the construction, amounting to between 300.000 and 400.000, has to be added on top.

In case of a partial purchase of shares, the real estate company can either lease the property to a separate manager or managing company (potentially the buyer of the shares himself), or it can manage the property itself, dividing the profits among shareholders.

The purchase can be structured starting with an initial holding of a minimum of 30% of the property and later followed by purchases of additional shares till the purchase of the entire property is complete.

We consider this to be a particularly interesting form of investment allowing the buyer to manage a sizable hospitality business in a true “prime location” with a relatively limited initial outlay. The property can be of interest to wine producers wishing to expand into the tourist sector to benefit from the synergies that have been sufficiently demonstrated in the area.