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19 October 2021 | Hotels

Auction deadline in November for the sale of the ‘Castle of Parrano’ & surrounding assets in Umbria

On behalf of Bayview Italia, specialist business property adviser, Christie & Co is pleased to announce an auction deadline has been set for the sale of the Castle of Parrano and surrounding assets within the medieval village of Parrano, Italy.

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The exclusive collection, which is currently being marketed through Christie & Co’s Hotel experts and offers development potential, has been scheduled for auction in Orvieto on 23 November 2021, with a reserve price of €15 million. Bidders will be required to submit an offer in person in a sealed envelope, together with a cheque equivalent to 10% of the minimum asking price in Euros.
 
The full list of assets available for sale comprises:
  • The fully refurbished Castle of Parrano with 26 master suites and spa centre
  • 4 buildings located in the medieval village of Parrano
  • 23 casali/ farmhouses dotted around the village with potential for conversion into villas and fractional ownership; ranging in size between 1,600 and 150 sqm – potential for 75 additional accommodation units
  • 741 acres of hunting reserve
  • 12 small lakes
  • Various stables
  • Around 2,500 acres of agricultural land available for redevelopment
  • An outdoor shooting range spanning 25,000 sqm which requires redevelopment
  • Opportunity to develop a 130-key hotel with golf and spa facilities on 5,300 sqm of land
 
The secluded but easily accessible municipality of Parrano is located between Rome and Florence on a 2,700-acre estate amongst the Umbrian hills, in the Province of Terni, and is currently home to around 500 people. The picturesque village was developed around the Castle of Parrano, perched high in a strategic position on Roman ruins to control the valley below, and boasts a rich cultural heritage dating back to the year 1000.
 
Recognised by UNESCO as a unique biosphere, Parrano is an ideal base to explore the ancient Umbrian region, renowned for its historic and diverse range of landscapes, from rolling green valleys dotted with medieval towns, to dense woodlands, vineyards and fields of olive trees. Nearby attractions which draw visitors to the area include the “Tane del Diavolo” a complex system of caves which are thought to have been inhabited since the Upper Paleolithic era (30,000-10,000 years ago) and “Bagno del Diavolo”, a thermal park which sits at the foot of the village.
 
DATA ROOM: For further information about this opportunity please visit our virtual data room HERE.

LISTING VIDEO: You can also view a dedicated listing video which outlines the opportunity HERE

 
NOTES TO THE EDITOR:

Auction Details
When: 23 November 2021 at 4:30pm (CET)
Where: Avvocato Roberta Scarchini, Piazza del Popolo n.21, Orvieto, Italy
How: Bidders or a representative of the bidder will be required to submit an offer in a sealed envelope in person, together with a cheque equivalent to 10% of the minimum asking price in Euros.
 

For further information on this press release, contact:                                                                                                      
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
 
 
 
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