Menu

Villa Michele, Florence, Italy

€14,300,000

This majestic Tuscan palace is one of the region’s, and indeed Italy’s, finest properties. Located just 10 minutes from central Florence in a private park the villa stands regally within its landscaped grounds.

The façade of this prestigious Tuscan villa dates back to the 17th century when one of the city’s ruling family’s built the property and today boasts beautiful original works alongside contemporary comforts for 21st century living.

Main Villa

The cloistered courtyard into which one enters the property immediately gives one a sense of the history and grandeur of the residence and also provides a shaded place for outdoor living and dining in the summer months. The three principal floors of the Tuscan palace are linked by an ornate stone and gilt stairway and a lift. In total the there are 1,800 sqm of floor area with state rooms on the ground floor and bedroom suites and further living rooms to the first floor. All the rooms to the ground floor boast high ceilings, superb frescoes, painted and coffered ceilings and majestic fireplaces. The quality of all the bathrooms is of the highest standard as well as generous dimensions. On each floor one finds kitchen facilities.

To the top floor of the property one finds further rooms ideal for children and staff which lead to the rear of the clock tower; the clock tower being the centre piece of the facade. The lower ground floor of the villa, with its vaulted ceiling and cobbled floors, is a charming space for rustic dinners and entertaining with wine cellars and gym facilities to the rear.

The level of restoration is truly exceptional due to the property’s full restoration in 2001. The contemporary features set alongside 400 year old features make this one of Tuscany’s most prestigious and unique residences.

Gardens and Grounds Accompanying the villa are 12 hectares of land. The land wraps around this prestigious Tuscan villa providing ordered gardens, arable land, olive groves, a swimming pool area, parkland and the tree-lined avenue.

Additional Accommodation In the grounds there are a three further residences totalling 1000 sqm in floor area. All three residences are restored to a very high standard and are also available for purchase.

Location Located just 3km from central Florence and a short distance from the motorways allows quick access to all services, amenities and transport.

Interior: 1800 m² Reception rooms: 2 Bedrooms: 8 Bathrooms: 8 Land: 12000 m² Pool: Yes

Please be aware prices may vary due to fluctuations in the exchange rate

A GUIDE TO BUYING IN ITALY

As with any property purchase in any country, it is always advisable to gain the help of reputable and independent legal and property advisers when you propose to buy in Italy.

MAKING YOUR OFFER

Purchasing property in Italy is usually a three-stage process. When you make an offer to buy, this needs to be made in writing by way of a formal Purchase Proposal and this should be accompanied by a deposit (which can be up to 5% of the purchase price). The deposit can be held in escrow. It can be a good idea to put a time limit on your offer and make it subject to due diligence.

THE PRELIMINARY CONTRACT

Once the formal details of the sale have been agreed between the buyer and vendor, and their legal representatives and the due diligence completed, the preliminary contract can be entered. This is a formal agreement drawn up by the agent, lawyers and, in some cases, this contract is also notarised. The contract stipulates all terms of the sale/purchase and is typically accompanied by a further deposit payment between 10%-20%. Again this deposit can be held in escrow or paid directly to the vendor. If the seller changes his mind, he will have to pay you double the deposit you have lodged.

THE DEED OF SALE (‘ROGITO’)

The public notary prepares the final deed of sale known as the rogito, whilst also carrying out land searches and so forth. The notary is a public legal body who represents both the buyer and the vendor, and collects the necessary taxes on the sale/purchase. It is the buyer who may choose which notary they wish to use.

THE COSTS OF BUYING

The main costs met by you, the buyer are:

Lawyer’s fees : 1-2% + IVA
Notary’s fee : Approx. £3,000 + VAT
Estate Agent’s fee : 3% + VAT
Tax on property : is calculated at 9% of the value according to the land registry. On resale properties the land registry value is typically lower than the sales price, often by as much as 30% to 50%.
Tax on land : is calculated at 12% of the land value. The notary will decide an appropriate value for the land in line with land prices in the area
NB:If you pay for your purchase with funds from outside Italy, be sure that the records are officially documented. Any later sale proceeds can then be repatriated.

ONGOING TAXES

Property owners pay income tax based on the theoretical rental income of the property. However, non-residents in Italy are subject to this tax only if the income exceeds a certain threshold.

Council tax (‘Imposta Municipale Unica’) is based on the land registry value of the property and is collected by the local authority twice a year.

You do not pay Capital Gains Tax if you sell the property more than five years after the purchase.

Please note: This article reflects Aylesford’s current understanding of property legislation in Italy. It is offered for general guidance only; specialist legal and tax advice should always be taken for any property transaction.

Brochure Lorem ipsum dolor sit amet, consectetur adipisicing elit. Numquam, itaque.
office contact

For further information or to book a viewing, please contact Louise King on

request a free valuation