Added 17/09/07

Guaranteed income at Tuscan castle

 
A wine estate in Tuscany could attract plenty of interest from overseas property investors.

Il Castello Di Gaiole is a 10th century castle property renovation development set within an 890 acre wine estate just 75km from Florence International Airport.

Trinidad Passerini Managing Director of Precious Villas says: “We are able to offer investors a guaranteed revenue income of six percent for a minimum of two years. The motivation behind this is to demonstrate to the owner that we are sure of the amount of income that can be generated from the property.
“ We pay the guarantee in advance at the time of passage of ownership. It is paid by discounting the amount of the guarantee from the sales price. This creates two considerable tax benefits; the lower the sales price the less tax is paid and the owner is not paying tax on rental funds at the end of each tax year.”

The castle sits at 500 metres above sea level between the two beautiful and historic towns of the Chianti Classico region; Radda in Chianti and Gaiole in Chianti.

The castle was once owned by the distinguished Florentine family; The Strozzi. The Strozzi family grew rich and powerful through commerce and took an active part in the government of Florence after the 13th Century.

There are now a range of properties available with a choice of two, three or four bedrooms. A characteristic of all the properties is that they will all follow a typically rustic theme, with conservation being a leading factor throughout, with the use of many natural materials such as hand manufactured earthenware tiles, terracotta, marlstone and chestnut wood.

Restoration and careful refurbishment have also been a priority, with original 16th century doors and impressive fireplaces being restored to their original beauty. However, to accommodate modern day requirements, there has been integration of hydro-massage baths, indoor barbecues, room ambience control, walk in wardrobes and grand fireplaces.

The main body of the castle is also being restored to host a banqueting hall, wine cellar, library, meeting rooms, reception lounges and particular attention to restoring the castle’s consecrated 15th Century chapel where weddings and festive services will once again be celebrated.

The complex also includes a panoramic swimming pool, positioned between the olive groves, landscaped gardens, restaurant, wine bar and a general store.

Prices start from £650,000 with options to purchase garages and wine cellars by separate negotiation.