Exclusive Prime Investment Lake Como, Italy

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We create wealth for our clients
Exclusive Prime Investment Lake Como, Italy
A Tailormade Investment Village in Varenna
Actual View taken from an apartment
Prestigious 1 and 2 bed luxury apartments from
175,000 1 bed mini-penthouses - 189,000 4 bed
penthouses - 490,000 Huge potential for capital
growth (over 50 expected in 5 years)
Below market value All apartments have commanding
views of Lake Como Euro 5000 reservation and 30
deposit required to exchange then nothing more
to pay until completion The area should be visite
d to appreciate its natural beauty
Each apartment has a garden/ private balcony,
garage and communal swimming pool
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We Find Great Deals
Located, in our opinion, on the best part of Lake
Como. On a hillside in the village of Vare
nna, overlooking the town of Bellagio across the
lake from Menaggio this is the Golden
Triangle of Lake Como.
say 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
All views are actually taken from the site
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The Opportunity
7BestInvest are offering 18 luxury apartments in
Block A and 4 key ready apartments in Block D all
with spectacular views of Lake Como. The
development, is situated above the charming
village of Varenna, 15 minutes by ferry from the
popular town of Bellagio. The apartments are
offered as either an investment or as a perfect
holiday home, with, letting and management
companies in place, (buyers however can choose
their own) and mortgage providers are in place
too. Apartment sizes range from 60.28 to 182.16
m2 living space. The development is scheduled to
be completed by January 2008. Each apartment in
cludes fully fitted bathrooms and gas central
heating. Fitted kitchens are provided with all
units, including white goods. Tiled floors will
be fitted throughout both the apartments and on
the balconies. Each apartment comes with a large
garage (from 17.75m2) and there is a communal
pool exclusively for each Block. The windows also
include wooden Louvre shutters in keeping with
the local architecture. 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 the lake from Menaggio this is
the Golden Triangle of Lake Como. Varenna is
known as the mini Portofino after one of the
most expensive towns in Italy!
The apartments sit proudly above Varenna on a hi
llside with unobstructed views of the Lake, no
more than 5 minutes drive by car from the church
square. Varenna train station can also be reached
from the site in a few minutes.
Varenna is an intriguing village to explore. So
me of its 800 wealthy inhabitants actually work
in Milan and the surrounding area, but choose the
peace, style and charm of Varenna as their home.
There is also a breathtaking golf course up on
the hills overlooking Menaggio (accessed by the
regular ferries from Varenna harbour).
Milan is an hours drive or train journey away wi
th all its worldly pleasures and amazing
shopping. Theatre and cinema flourish in this
fashionable city, it's lifestyle that counts. The
Varenna black stone Nero Varenna which is used
in the famous Duomo in Milan is actually from the
quarry (Cava) where this development is being
constructed. Skiing is only 20 minutes away, w
here four pistes can be found, for the real
enthusiast St. Moritz is only 45 minutes away by
train. Varenna is 1 hour from Milan Malpensa
airport, 1 hour from Milans Bergamo airport and
45 mins from the smaller Lugano airport via
Menaggio. Milans airports are served by most
major airlines flying from all the major hubs.
There are also plenty of budget airline flights
from Stanstead, Luton, Manchester and other UK
airports which fly to both of Milans airports.
Development Specification
Location

Getting There
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Properties Block D Artists Impressions of co
mpleted Block D. This building is now key ready
Please note that the orientation of the graphi
cs is for display only. The best lake views are
to the south and west, front and right of the
building as we face it. The ground floor is act
ually raised above the ground level providing
stunning views as well.
There are a mixture of studio, one and two
bedroom apartments. They range from 45.81 m2 to
87.79 m2 living space plus Juliet balconies from
2 to 19 m2 or ground floor gardens from 50.23 to
186.4 m2 .
The gardens are separated by fences, (not shown
in the artists impression), with access to the
ground floor apartments from the front up sets of
stairs. The 1st and 2nd floors are accessed from
steps to the rear. There is a swimming pool to
the rear of the development (not shown) and
underground car parking with access by stairs
directly to the building.
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Price List and Apartment Types Block D
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Block A
Properties in Block A The apartments all face W
est with stunning lake views. The ground floor is
actually raised above the ground level providing
commanding views as well. To the South West are
un-obstructed views over picturesque Varenna and
the Golden Triangle of Lake Como, with Bellagio
at the centre.
There are a mixture of one, two and superior two
bedroom two bathroom apartments. They range from
60.28 m2 to 126.56 m2 living space plus Juliet
balconies or ground floor gardens from 50.43 to
107.32 m2 .
To complete this stunning development the top
floor with its high wooden ceilings contains
two, 4 bedroom 3 bathroom penthouses which cover
a huge 182 m2 and are probably the most
exclusive residences on the Lake! There are also
two, 1 bedroom mini-penthouses of 60 m2 which are
outstanding value for money. There is a swimmin
g pool to the side of the development (not
pictured) and large underground individually
lockable garages / storage space with access by
stairs directly to the building.
Actual View taken from an apartment
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Price List and Apartment Types Block A
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• Why is this an outstanding investment
  opportunity?
  
• 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 (lower than comparable
  new builds in the area).
• Stunning location with Spectacular views of Lake
  Como and the mountains
  
• Limited supply of quality apartments being
  constructed at affordable prices
  
• Below market value based on comparables
• Lake Como is only at 30 of its potential and
  prices and demand are set to soar
  
• We expect at least 50 capital growth over the
  next 5 years
  
• Perfect location for rentals and re-sales
• Good links to Milan and its airports
• Skiing close by
• St Moritz close by
• Train station a few minutes drive away

Looking North up the Lake towards the Alps
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Spectacular Lake Como in the Winter!
Actual View taken from the site
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Excellent Rental Potential The Golden Triangle
is in an excellent position on Lake Como and a
very popular location for tourists. The area
receives more requests for accommodation per
annum, than the number beds. This is naturally a
very healthy situation for an investor, with
little scope for further development of property
in the area. For the management and rental of t
he apartments, we have negotiated with a company
to offer their service to buyers. This is around
1500 euros pa. They are currently acting for many
of our clients. They have also provided quotes
for a total rental package which they can offer
to purchasers of the apartments, please see below
The main marketing side of the operation is a UK
based company who have an excellent track in
rental marketing. Their web site has been
mentioned on the BBCs Holiday Programme.
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Mortgage Finance is available through Italian ban
ks secured on your property. Below is a table
with examples of terms offered recently to
clients after carrying out an official bank
valuation, please see table below
Banks have provided us with a valuation of over
3000 m2 as an average price across all floors.
We recommend you use Conti Financial Services or
Fidentia Group to provide and advise you of
mortgage products in Italy. Available Loan to Va
lue Normally 70 but up to 80 subject to
status. Note this is typically the purchase
price, not the actual market value.
Note that there are no Buy to Let or
self-certifying mortgages in Italy. It is similar
to France, in that no rental income is assessed
in the application. The bank looks at only net
monthly income, to see if it is three times the
mortgage payment. You will typically need 3
months bank statements, 3 months pay slips or
other proof is self-employed and the latest
annual tax documents, such as a P60 for UK tax
payers.
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Actual Views taken from Balconies
Actual Views taken from Balconies
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FAQs Q Freehold how does this work in Italy?
A All apartments are freehold. This means the b
uyer owns their physical apartment and share of
land the building is built upon. Buyers will be
granted full title. Q What Security is planned
for the project? A There will be an access road
, no gate, or on-site security staff. This is not
required. Q Are there any advantages to being
an EU citizen when considering this purchase
versus a US resident?. A there a number of ang
les to this question as far as the purchase is
concerned the answer is "no". However, the client
may wish to consider two points 1. Their personal
tax position 2. Becoming an "Italian" resident
which will make a difference to the overall cost
of purchase, which means they pay 4 tax instead
of 10 IVA. However, it may take 18 months to
become a full citizen. Q Also what are the lik
ely property /local /council taxes the owner
would incur? A compared to the UK, annual proper
ty taxes are low like the UK the figure is
geared to the size of the property. In the case
of the apartments, budget a gross amount of
approx. 600 to 800 per annum should be
comfortable. As soon as the property is finished
and an ICI tax assessment completed we will be
able to confirm actual costs. Q What are the p
roposed service charges? A These will be set aft
er completion but will be between 50 to 100 per
month. Q On the final act, can owners occupy t
he apartment, or will the ensuing work on the new
blocks prevent this? A Yes, they can occupy and
use the apartment. Safety paperwork will be
granted by final act. Q What is the target co
mpletion date of the whole project?
A Early 2008. Q What swimming Pools are there
? A There is one swimming pool and sun deck (wit
h stunning views) each for Block D and Block A.
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In our opinion, one of the 7 best property
investment opportunities in the world today
For further information please contact us on 0208
387 4094
or e-mail enquiries_at_7bestinvest.com