Giardini di Borgo 69
Pozzo della Chiana | Province of Arezzo | Tuscany | Italy
Giardini di Borgo 69, Tuscany
Giardini di Borgo 69 is a brand new residential development of 12 stylish 1, 2/3 bedroom homes, positioned perfectly as an extension to the established village of Pozzo, with extensive views over the Tuscan countryside; including the Val di Chiana and towards the spires and rooftops of the village of Pozzo.
Designed as a blend of strikingly modern architecture fused with “traditional Tuscan”, the project is unique to the region, offering stylish contemporary accommodation for a market that desires more than rustic charm! The project incorporates two existing 300 year old cottages within a stunning new build, which takes its reference from the historic features of the surrounding Tuscan architecture with a uniquely modern twist.
State of the art lighting technology, insulation, heating & cooling systems, make each home exceptionally energy efficient, yet comfortable throughout the seasons. Property interiors are customisable, creating a bespoke home to meet buyer’s unique requirements. Surrounded by communal fields and olive groves, all homes have their own parking and private gardens or terraces.
With an in-house on-site property management and concierge service, Giardini di Borgo 69 offers a hassle free investment proposition. Owners wishing to capitalize on their holiday home investment will benefit from outstanding rental potential and an assured yearly yield of 5% p.a. for three years
The properties benefit from a full service offering. From a simple meet and greet to full housekeeping services and rental management of their property, owners can depend upon the on-site team, providing residents with a wide range of facilities 365 days a year.
This team’s activities are centered around the lounge bar and restaurant “Ines”, which offers the purchaser and their guests a perfect gastronomic haven in harmony with the market garden’s organic food, delivering an authentic Tuscan “farm to table” experience.
A location of spectacular beautiful and outstanding facilities, the resort’s serene infinity pool is secluded in the olive grove and offers panoramic views over the surrounding countryside and organic market garden. The restaurant serves produce grown on the estate’s organic market garden, while surrounding olive groves provide residents with their own taste of Tuscan oil.
The fruits of Giardini di Borgo 69’s olive grove, already producing some of Tuscany’s finest olive oil, are shared by the purchasers. Sympathetically planted with native herbs, flowers and fruit trees, some gardens will have the possibility for their own private plunge pool or Jacuzzi.
Whether buying as an investment, using your property as a second home or as your main residence, knowing that your property is lovingly looked after and well maintained will guarantee peace of mind.
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"Giardini di Life” Programme – the management of your home
The management of the condominium, individual properties & delivering owner’s expectations; a programme in which all community members, except those entering our Giardini di invest programme, will be required to participate. The concierge team at Giardini di Borgo 69 are creating a community, we have designed a concierge service to deliver cottage owners the services they need & desire, when abroad or in residence to maintain the level of the community.
The management of apartments and annual costs include:
- Pool Maintenance
- Structural maintenance building insurance and reserve fund
- Grounds maintenance
- Maintenance of the Intercom, satellite & Wi Fi services and communal lighting inc costs
- Condominium accountancy & other legal costs associated with staffing to include common parts cleaning
- General inspection of each cottage
- A welcome bottle our house wine or prosecco on the owner’s return to their property
- 10% reduction for the owners and family at the onsite restaurant “Ines” with priority reservation
- A dedicated space in our wine cellar, stocking your favourite wine by our onsite sommelier
- Access to the Giardini di Borgo 69 media matrix – for satelite t.v and a film service.
- A 9 to 5 Concierge service for owners & their guests offering services (all year) including: Reservations for local wineries, restaurants and other local attractions, booking transfers, taxis, including to & from local airports, as well as rental vehicles whilst also organizing extras such as a private chief, laundry, nanny and shopping services, all available upon request (price list available)
The annual Giardini di Life programme costs and management fees for all the above services is €3,700 per annum. This is to be paid quarterly and reviewed every 24 months payable to the management company. It is Subject to inflation and changes to future service costs (full break down available upon).
City Council Taxes
Property taxes vary in Italy depending on the property’s use, whether purchased as a principle residence or temporary /second home, we have made our estimated calculations based on the latter. Owners will be responsible for the taxes called IMU which is the local council tax and TARI which is the local rubbish collection tax. The local authorities have yet to evaluate the property tax and will not do so until the sale is completed, however they are estimated by our professionals to range from approx. Euro1,100 to Euro 2,300 per unit per annum. The tax is levied on the theoretical value of the property and its size whilst adjusted annually in line with inflation.
Utilities and Services
Giardini di Borgo 69 has been designed to the highest-Class A++ thermally efficient standards. Each property will be fitted with the latest in hybrid heating and cooling systems and calculated to have 50% of its sanitary water heated using renewable energy resources provided by each properties’ solar panel. This in conjunction with the insulation within both the structure and the fittings will help to maintain the properties thermic status. Based on the above systems our professionals have estimated the consumption cost for an average household to range from €1,600 to €2,300 per unit per annum depending on the size of the unit and the owners use. State of the art lighting technology, insulation, heating/cooling systems, combines to make each 'hometel', energy efficient yet comfortable throughout the year. Owners will be liable for the cost of utilities (electricity and water) at their property, as well as contents insurance.
“Giardino di Life” Programme – rental potential
We recognise that some lifestyle clients may wish to recoup their Giardini di Life Concierge commitment by allowing the concierge team to rent their property through our ever expanding, select database of existing contacts and agents. Following our two decades of experience in the rental market with our products of Fontelunga Hotel and Villas www.fontelunga.com we have designed and tailor made our new community of Giardini di Borgo 69. Our knowledge and positioning in the market of our family of products with our unique “informal luxury” approach, has allowed us to maintain an average seasonal 72% occupancy.
You simply tell us when you will be in residence and when the property will be available to the rental pool. Beyond that, you come and go as you please. As might be expected if you have put your home into the rental pool for a particular period and we have taken a booking, then we are of course obliged to honor the booking. But even in a period where the property has been made available for rental, if your home has not been booked, or the booking can easily be transferred to another property on the estate, then you can still come to stay – a great flexible solution allowing you the freedom of your property while enjoying a strong rental income.
Owners personal belongings removed from the property (in accordance with an agreed inventory) before the rental client’s arrival will be returned, post rental, whilst the property made ready and set up for the owner’s return to make rentals as convenient as possible.
Shared Rental Revenue
The rental revenue is shared between you the owner and the management company. 50% of the net revenue after VAT is paid to the owner. The management company retains the other 50% to cover all the costs of operating the Estate, including client reception, reception services, linen, cleaning of the properties for rental, maintenance etc. during the rental period and any sub contracted agent costs.
Estimated weekly revenue
Our aim is to market the properties as “Cottages Suites” bringing “Hometel life” to the Tuscan hills offering renters the comfort and privacy of an individual property but with all the Concierge services where it is possible to self-cater, or use the on-site bar / restaurant facilities and concierge.
The rental rates for the Cottage Suites are based on our experience of renting Villas Gallo and Galletto our one and two bedroom Villas that we built from scratch in 2005 and have successfully operated ever since. These 2017 rates are as follows:
- Villa Galletto - one bedroom € 2,730 per week in high season.
- Villa Gallo – two bedrooms € 4,830 per week in high season.
Giardini di Borgo 69 has all its onsite facilities whilst also being within easy walking distance of the local Village making the product unique its own right. These anticipated weekly and daily rates are estimated as follows:
- 1 bedroom Cottage Suite € 2,700 per week in high season & € 270 per night in low season.
- 2 bedroom Cottage Suite € 4,800 per week in high season & € 460 per night in low season.
- 2+1 bedroom Cottage Suite € 4,800 per week in high season & € 460 per night in low season plus an additional €90 per night if third bedroom utilised.
- 3 bedroom Cottage Suite € 5,900 per week in high season & € 550 per night in low season.
First year occupancy estimation: Jan, March, Nov 25%, April, Oct 40%, High season 65%, May 50%, Dec 35%, Feb Closed (all subject to owner’s requirements).
Replacement & Repairs
Day to day repairs and replacement of items lost or damaged by rental guests will be covered by the management company. In the unlikely event that major repairs become necessary they will, in the majority of cases, be covered either by the 10 years construction warranty that comes with the property, or from buildings insurance. The buildings insurance is included within the service charges and contents insurance is paid for by the owner.
Giardini d’ Invest – the management of your investment property
At Giardini di Borgo 69 we have developed our Giardini d’ Invest plan to give owners the returns they currently desire. Owners who wish to capitalize on their holiday “Hometel” investment can benefit from our 2 decades of experience in the luxury villa rental market, gain access to our global data base of clients and agents, generating an assured return of 5 %.
Those Purchasers wishing to take part in the rental programme would enter into a three-year rental contract with Hometels.
Included for the owners in the Giardini d’invest rental programme is:
- Utility and service charge costs as listed above in the “Giardini di Life” programme
- Marketing & rental of your cottage to our extensive client database, agents & sales representatives.
- Two weeks use of your cottage in high-season – mid June to mid September.
- Two weeks use of your cottage in mid-season – mid March to mid June and Mid Sept to Mid Jan (excluding the festive season).
- One weeks use of your cottage out of season.
- Assured 5 % return over years 1 to 3 (subject to contract) – held in an escrow client account with quarterly payments.
- Your own personal belongings, pictures etc stored safely in your own storage space, subject to inventory, & returned to your cottage pre-arrival.
- If owners decide not to take up their inclusive weeks, the GdB69 team are able offer them for rental (Subject to terms and conditions).
- Owners entering the programme would be required to choose one of our furnishing packs to have the complete GDB69 look. (info on request).
- Worked example:
|Example Purchase Price €500,000||€500,000|
|Assured return years 1 to 3 (held in client account)||€75,000|
|Net return each year inclusive of all costs – services charges, management and utilities. Paid quarterly and held in a client account.||€25,000|
|Returns as a percentage||5%|
N.B. Stamp duty/purchase tax and legal fees covered by the purchaser.
Beyond year three
After year three, the management team will offer either a further three year assured return based on current market conditions at that time or a rental split with the owners based on the three years of collected data. (subject to contract).
Replacement & Repairs
Day to day repairs and replacement of items lost or damaged by rental guests will be covered by the management company. In the unlikely event that major repairs become necessary they will, in the majority of cases, be covered either by the 10 years construction warranty that comes with the property, or from buildings insurance.
Rental referral benefits
At Giardini di Borgo 69 we aim to create a community for all those who take part in it. We, as the management team, have known we are only as good as the community we have behind us. Over the last 2 decades we have built our data base on recommendation so we would like to return some of these benefits back to the owners though a programme of commissions and complementary services for those referrals.
Income Tax on Rental Revenue
Owners at Giardini di Borgo 69 will be liable for income tax on rental earnings, whether or not you are resident in Italy. This follows the general principle that applies between most countries, that rental income is liable to tax in the country where the property is situated. We suggest for clients to consult their tax advisers.
At Giardini di Borgo 69 our aim is to create a top product with high quality finishes that are yet true to the simplicity that epitomizes Tuscan country architecture. In every Hometels purchase both the kitchen and bathroom furniture is included. Every property is a freehold property and each owner is free to decorate their property how they so desire. However if a purchaser would like to take the opportunity to make best use of the rental potential of their property, we would recommend them taking up one of the furniture packages. The design team have created three styles that range from stylish farm house to contemporary cottage called: “Fattoria alla Moda” – “Contemporaneo Contadino” - “Cottage Chic”. The design team look forward to tailor making your holiday home away from home. Prices for the property packages are as follows:
- Euro 15,000 – for a one bedroom property.
- Euro 20,000 – for a two bedroom property
- Euro 25,000 – for a three bedroom property
Owners Annual Event.
In the end we are creating a condominium and as such, under Italian law we need to have a yearly condominium forum. At Giardini di Borgo 69 we have a deep rooted philosophy based on important principles of balancing managing the investment, making profits for all whilst building a community. So at the beginning of each season, all cottage owners will be invited to attend the annual owner’s event; a party over one weekend in March at the beginning of each season to meet the other owners along with the GdB69 team and enjoy their Tuscan purchase in its full glory. This is also an excellent opportunity for the members of the owner’s committee to vote on any matters arising and have a much desired and valuable input.
Purchasing property within Giardini di Borgo 69
The schedule for making payment for the construction of the property is governed by a standard schedule of payments being made as each successive stage of the property construction is completed, and stage completion will be be verified and certified by the site surveyor.
A purchaser would be required to deliver the funds in a series of 4 standard % payments based on the agreed purchase price for each unit as follows:
- 10% (plus duty) upon the signing of the Proposal for Purchase
- 20% (plus duty) upon the signing of the Preliminary Sales Contract
- 10% (plus duty) upon completion of building the roof.
- 60% (plus duty) upon completion of the property and signing of the final purchase contract
We have estimated an 18 months’ construction period. However, on the “Sale and purchase agreement” (compromesso) we would insert an ample completion date to allow for the season in which the project commences, including unforeseen circumstances relating to weather or construction complications.
Mortgages are available, generally to a maximum of 70% loan to value.
Legal costs and stamp duties apply.
Giardini di Borgo 69, Tuscany
The Location: Tuscany
Giardini di Borgo 69 is situated in the Val di Chiana, the largest open valley in the Tuscan Appennines, providing spectacular views toward the historic “Under the Tuscan Sun” town of Cortona.
Its centrally located position, within 30 minutes of the main Italian arterial highway, offers a choice of 7 international airports within 2.5 hours.
The proximity of this exciting new venture to the medieval village of Pozzo della Chiana offers all the essential local amenities, whilst there are also many wonderful restaurants and treasures to be discovered in the many surrounding hill top towns.
For centuries Tuscany has been one of the world’s centres for art and culture, alongside its global reputation for outstanding cuisine and fine wine.
The region’s countryside is a perfect representation of a quintessential Italian landscape, with rolling hills complemented by olive groves, vineyards and cypress trees.
An outstanding investment proposition, the property market in Tuscany is exceptionally stable, as the region is extremely sought after amongst both domestic buyers and buyers from overseas.
Combined with the traditional stability of the Italian property market as a whole, Tuscany’s property values are further protected by strict planning laws that restrict new building and ensure that any restoration work maintains the region’s traditional style and character.
A significant aspect of Tuscany’s attractiveness as a property investment destination is the world’s unwavering desire to live here. One of the world’s most prestigious destinations, Tuscany offers a temperate climate, enviable quality of life, spectacular views, breath-taking countryside, and a beautiful Mediterranean coastline, plus world-renowned cultural centres such as Florence, Pisa and Siena. All of these features make this region a desirable location for overseas buyers looking for a home in Italy.Visit Italy
Townhouse | 2 Bedroom
Two/Three Bedroom Cottage, 3, Giardini di Borgo 69 Pozzo della Chiana | Province of Arezzo | Tuscany | Italy
Fantastic 2-3 bedroom cottage situated within an extension of the established village of Pozzo in Tuscany, Italy.Read More
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