Friday, May 24, 2024, 6:45 p.m.
If you have at least nine million euros, you can aspire to get a unique space in Venice. This is the island of Santo Spirito, which on June 25 will be sold at auction through the specialized portal quimmo.it. Located between the Lido and the Giudecca and with an area of about 2.4 hectares, it has been in a state of abandonment for decades after being used as a powder magazine in the Second World War. After hosting various religious congregations for centuries, with the Napoleonic Wars it began to have military use and was finally sold by the State in 2003 for 350,000 euros to a private company. Once approved in 2014 by the Venice City Council the urban plan that allows the establishment of homes or hotels on the island to accommodate up to 144 people, while rehabilitating the existing buildings, the island of Santo Spirito goes on sale for a target price that It seems difficult to fix today.
«The auction starts with nine million euros, although it is difficult to predict the amount that may be reached in the end. Appraisals are always done looking at how comparable properties have performed on the market, but with Santo Spirito we are talking about a unique case,” explains Giulia Valentino, the real estate agent in charge of this peculiar property. She assures that since quimmo.it was commissioned to manage the sale two months ago, there has been enormous interest from potential buyers, curious onlookers and the media. Based on her experience, she considers that the most likely profile of the buyer is that of a foreigner in love with Venice and, obviously with ample financial availability, who takes over the island to establish her exclusive residence there. Entrepreneurs in the tourism sector could also be interested in opening a hotel in part of the Santo Spirito spaces and dedicating the rest to housing. It would thus have a similar purpose to that of the nearby Rose Island, where a 5-star hotel is located.
Located about 15 minutes by boat from the island of Lido, the long sand barrier that closes the Venetian lagoon, to reach Santo Spirito you need a shallow draft boat, since its dock area has not been drained for decades due to to abandonment. «It is clear that reforms are needed. But the urban plan is approved by the city council and the existing properties, although they must be maintained, can be greatly appreciated since they are empty inside. “This island has a great history,” says Valentino.
The announcement of the auction of Santo Spirito has not pleased some Venetians, who already protested when it was sold by the State two decades ago for a price that was then considered ridiculous. The possibility that it ends up hosting a hotel in a city where tourist pressure is expelling more and more residents from the real estate market also does not help the operation to be seen favorably.
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