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Il Podere The swimming pool at La Castellina apartments in Tuscany   Siena
The property is located in the Montagnola Senese national park and the secluded hilltop setting near Siena offers stunning views over the Tuscan countryside, whilst still being close to beautiful historic towns such as Florence and San Gimignano as well as the Chianti, Montalcino and Montepulciano wine regions.
Il Podere has an interesting history (dating back to 1204) and having been a convent until 1504 it was then bought by the important Sienese family of Tolomei. The present owners, are responsible for the sympathetic renovation of the buildings, retaining many of the original features such as beamed ceilings and terracotta floors. The main apartment building
Situated near Sovicille, the nearest shops, church and bank are at Rosia, 5 miles from the property and there is a 9 hole golf course only 15 miles away. Il Podere is 12 miles west of Siena and within easy reach of San Gimignano and Monteriggioni whilst Florence is only 45 minutes away by car. The swimming pool terrace at Il Podere holiday apartments


Il Podere offers a wide range of accommodation varying from self-contained studio apartments to a two bedroom detached villa. The beautiful location provides stunning views of the Tuscan countryside from the whole property, particularly from the terrace and swimming pool area.

 Each apartment or cottage/villa has one bedroom and sleeps 2-3 or two bedrooms and sleeps 4-6. All accommodation has a bathroom with shower and w.c. and a living/dining area with kitchen facilities. They are rented out on a  weekly basis. Heating is available on request at an additional charge payable locally.
The swimming pool is 12x6 metres and is 1.5 metres deep and is open from 10:00am to 7:00pm daily. The pool area provides breathtaking views over the Tuscan countryside and is the perfect place to unwind and plan your evening.
The shared terrace looks out over the countryside to the west and provides perfect views of the sunset over Volterra. If you choose not to eat out, many guests use the shared barbeque and spend the evening with other guests drinking a glass or two of the local Chianti Classico.

 



The Accommodation
 Fico, Grappolo, Bella Vista (Sleep 2+1): Located on the first floor of the main building. These apartments all have a double bedroom, bathroom with shower & w.c. and living / dining area with kitchen facilities. The living area has a double convertible sofa bed and the kitchen area has a fridge and two ring hob. These apartments are all reached by stairs (apartment 2 staircase shared with the Caminetto).Entrance to the main building

Cipresso, Le Volte (Sleep 2+1): These apartments, located on the ground floor of the main building have a double bedroom, bathroom with shower & W.C. and living / dining area with kitchen facilities. The living area has a sofa bed and the kitchen area has a fridge and two-ring hob. These apartments have shared entrances. Note: In apartment 6 the bathroom can only be reached by going through the main bedroom.

La Casina Cottage (Sleeps 2): The ground floor has a living room with kitchen area with a two-ring hob and fridge. The bathroom has a shower& W.C. An iron staircase leads to a small double bedroom.

Porcilaia  (Sleeps 4+2): This detached villa has one double bedroom, one twin bedroom and a sofa bed in the separate living room. The kitchen / dining area (connected to the living room through an archway) has a fridge with small freezer, four ring hob and oven. The bathroom has a shower and W.C.

Caminetto (Sleeps 4+2): This first floor apartment has a large living room with sofa bed, kitchen / dining area with 4 ring hob, fridge freezer and oven. There is one double bedroom with ensuite shower and one twin bedroom. The main bathroom has a shower / W.C.

Lecceto (Sleeps 3+2): Ground floor apartment with one double and one single bedroom (has an extractor fan in place of window). Bathroom with shower & W.C. Living / Dining room with sofa bed and kitchen area. Microwave oven, 2 ring hob, Television and fridge.

Uliveto (Sleeps 4+2): Ground floor apartment with one double and one twin bedroom (one with internal window only). Bathroom with shower & W.C. Living / Dining room with sofa bed and kitchen area. Microwave oven, 2 ring hob, Television and fridge.

 

 

Investment Potential
This property of 11 units and surrounding land in a prime tourist zone represents a real investment opportunity. Tourism is nothing new to Tuscany - people have been visiting the area for the past 600 years. It is the main industry of the area, and there is substantial support both from regional and local entities, and from central government. Furthermore, there is a possibility that the amount of land might enable the property to be reclassified as an 'agriturismo' if it were to be developed agriculturally, allowing substantial tax breaks., though this would require owner occupancy. The owner would pass on existing schedules, contacts and contracts.
Below is a table showing the rents of the units for holiday letting. It is let for a shorter period of the year than most comparable properties. This is a choice of the present owners, who are selling due to age. I have presented two scenarios based on the actual weeks let at two comparable properties in the Chianti/Senese area in 2008. We can recommend a local letting agency which is skilled at maximizing letting potential, having contacts all over the world. The owners are wishing to retire in the very near future, and  are therefore willing to accept a price substantially  below its recent valuation of 3.2 million euros. Offers around 2.5 million euros would almost certainly be acceptable.


Yield
10 of the 11 units are let at present, for a limited season.
2009 Rental Prices LS MS HS
4/4 - 15/5   19/9 - 3/10

156/5 -199/6 27/8 - 19/9

20/6 - 29/8
Porcilaia 4+1  €          890  €        990  €     1 090
Caminetto 2+2  €          890  €        990  €     1 090
Uliveto 2+2  €          750  €        850  €         950
Lecceto 2+1  €          650  €        750  €         850
Fico 2+1  €          650  €        750  €         850
Grappolo 2+1  €          650  €        750  €         850
BellaVista 2+1  €          650  €        750  €         850
Cipresso 2+1  €          490  €        590  €         690
La Volte 2+1  €          490  €        590  €         690
Casina 2  €          490  €        590  €         690

Full occupancy would produce
199 600 euros p.a.

Based on 2008 occupancy levels at a moderately popular comparable property it would produce
145 400 euros p.a.

Based on 2008 occupancy levels at a very popular comparable property, with an extended season it would produce
194 000 euros p.a

 

 

For more information, please contact Tuscan Investment Property Services.

       +44 2030168249 / 07846723807            
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