Santa Marinella residential development
Asking price of EUR €20,000,000
Ref: Land for sale in Santa Marinella
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Fantastic opportunity to purchase land with full planning permission. There is high demand in this region from families wanting to relocate from Rome to achieve a higher standard of living.
A combination of residential units and hotel buildings is the most profitable way to develop this piece of land, which is strategically located.
Purchasers can live 5 minutes from the sea and commute to Rome in just 40 minutes.
Key selling points:
* Full planning permission granted
* 20% below the market value
* Project management and Business plan (that can be modified) in place
* High demographic growth
* Hill top position, sea view and proximity to the city
* High demand for residential and hospitality units
* 33,569.73 constructible sq.m
* 59.15% of potential ROI over the three years according to the current business plan
* Aptitude for application of environmental sustainability re the energy sources - south facing plot provides potential for solar panels on houses
* Proximity to Rome (40 min. by normal road ‘SS1 Aurelia', 35 min. by motorway (A12), 30 min. by train (station in S Marinella).
* Price: EUR 20,000,000
Fantastic location:
Santa Marinella, is considered among the most beautiful and healthy seaside establishment on the Tyrrhenian sea, it can be found at only 62km. North of Rome, following the Via Aurelia, and at 10km from Civitavecchia. The coast of about 22km. Moves between the sweet slopes of mountains of Tolfa and small inlets sometimes rocky, sometimes sandy of Tyrrhenian sea; the favourable position permits a good climate for all the year round. The town, its houses and its villas form a unique frame with a coastal landscape, surrounded by the greenery of the pines, palms and oleander. In these last years it has reached it height of splendour: many summer residents of the village and tourist flux not indifferent have permitted to become a place for holiday makers, not only in the summer period, but also for passing a tranquil weekend in the winter.
It is called also "Rivera of the flowers of Lazio", thanks to the agriculture activity centred on flowers that has become itself a tourist attraction, for the beauty and the variety of species grown.
Business plan:
The current business plan allows for 76% of the building to be used for residential (local market), 24% to the managing of two hotels, plus the managing for a minimum of 9 years (extendable up to 30 years) of a multifunctional building with covered pool and sports ground. This should generate, at the current market condition a ROI of up to 59.15% over 3 years for the investor.
Purchase Terms:
1) Preliminary Contract ("Compromesso") around 10th May 2008, paying 10% of the total price (to € 2,000,000.00) plus commission and expenses equal to 3.3% of the total price (to € 660,000.00); the best way is to proxy a local lawyer to simplify the procedure and together to check the contractual regularity on behalf of the purchaser
2) Contract Deed ("Atto Notarile" or "Rogito Notarile") around 10th July 2008, settling with 90% of the total price (to € 18,000,000.00) plus the rest of the expenses which totals € 2,600,000.00 - € 660,000.00 already paid equal to € 1,940,000.00; also at this stage the best way is to proxy a local lawyer to simplify the procedure and together to check the contractual regularity on behalf of the purchaser
3) At the Contract Deed, part of the € 18,000,000.00 settle of the purchase, let's say about 2/3,000,000.00, should stay in deposit with the Notary for two years, as guarantee for the purchaser, against any possible future debt or encumbrance linked to the property or to the vendors
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