Last Available Venice Lagoon Island To Sell For $28 Million

The luxury island is fast rising up the ranks on the must-buy lists of the superrich. The most recent little tidbit that we gathered has to do with a Venice lagoon island that is currently up for sale. Named Santo Spirito, this scenic little island is currently listed at a price of 20 million euros ($28 million). When you think about it, that is not that high a price for an entire island.

The Venice lagoon island was so far in the possession of holding company Poveglia Ltd. However, the Italy-based real estate investors have decided to sell Santo Spirito, and have roped in brokerage firm Colliers International to help them do just that. Santo Spirito is a 6.2-acre island, and it is a mere ten minutes away from St. Marks Square if you travel by boat. One of the prime attractions on this little island property is a ruined 12th century convent. The latter occupies 38,000 square foot of area on the island.

The ruined convent could turn out to be an interesting tourist attraction, but investors would be more excited to learn that planning consent for 4,500 square meters of new construction has already been received. The area and scope for new construction suggests that Santo Spirito would be an ideal site for a luxury hotel or a luxury residential complex.

Massimo Saporito, the investment head (Italy) for Colliers International, said that the island would offer investors the opportunity to “customize” the property according to their own needs. Colliers also revealed that after Santo Spirito, there are no other complete islands available for sale within the Venetian lagoon area.

Via: Bloomberg

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