This is a rare opportunity for developers and real estate investors to buy Santo Spirito – last island available in the Venice Lagoon. Colliers International has received an exclusive mandate to market San Spirito with an asking price of €28 million ($38,6 million).
The island offers a unique opportunity to redevelop approximately 3,500 sqm of existing buildings, said Massimo Saporito, head of Investment Services for Colliers International in Italy. And it also offers an additional 4,500 sqm of new construction.
Santo Spirito Island is a ten-minute boat ride from San Marco Square and close to Giudecca and Lido. The island has a rich cultural history that dates back to the XII century when the island was the seat of a monastery. Later it became the gathering place of ambassadors, diplomatic delegations, royal families and noble travellers thanks to its unique charm. San Spirito can be easily customized to investors’ needs. It could become an ideal location for a prestigious hotel or luxury residential units.
The island is currently owned by Poveglia Ltd, a company run by a group of Venetian real estate entrepreneurs who focus on the recovery of local historical properties. They are looking for investors and developers willing to work on this exclusive project and to bring the island back to its ancient splendour.