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Redevelopment project aimed at creating 8 luxury apartments of a "pied dans l'eau" property located in Moneglia.
Property located on the beach "La Secca" in Moneglia
Second homes market in strong growth in Liguria
Operation with permits obtained and work already begun
Prospective annual ROI up to 15 percent, expected investment duration 18 months
Goal min 1 Mln€
Goal max 1,5 Mln€
Annual ROI Max
Sunset Apartments is a project involving the redevelopment and re-functionalization of a seafront building located in the resort of Moneglia(GE), located in one of the six bays of the Levant.
The sponsor of the initiative is Setha Group, present on the national and international territory for several years now with a significant track record of Real Estate developments in major cities including London, Milan, Rome, Florence, and Verona.
Since January 2020, Setha has owned the property through the special purpose company Memi Consulting Srl, with which it has obtained a 30-year construction loan agreement from Banca Monte Paschi di Siena, part of which has already been disbursed, and started work, which to date is at about 40 percent SAL. The goal is to finish the same by the first quarter of 2023.
Sunset Apartments is a "direct" type of investment: investors will enter the capital of Memi Consulting Srl, a special purpose company that owns the property and develops the project.
The properties will be marketed by Portofino Property, a partner of Knight Frank Group, one of the world's leading luxury real estate agencies.
The pre-existing property was demolished to make way for a two-story above-ground residential complex consisting of eight exclusive residential units of various sizes that include valuable accessories and appurtenances.
© 2023 SiamoSoci Srl a company of Azimut Group - VAT number IT07464370969 - Via Timavo 34, 20124 MI - SC € 87.248,12 fully paid up - Registr. 8, resolution 19002 of 06/08/14