Italian island up for grabs

An exclusive real estate opportunity is presented in the Italian property market for the island of San Spirito close to Venice.

The historical island dates back to the XII century when it was home to an order of monks. There are several existing structures steeped in historical folklore including a derelict convent where restorative work has already begun. Local planning regulations are in place for further developments including residential and hospitality venues.

The asking price is a cool 28 million Euros and the agents handling the sale suggests the location of the island, a ten minute boat ride away from San Marco Square, makes it an ideal opportunity for investors to move in and create a luxury hotel development or top of the range residential units.

The current owners a party of real estate enthusiasts who have an interest in bringing back to life historical buildings hope the new owners will continue to develop the restorative theme.