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Podere Campanile, Radda, Chianti, Italy

€2,900,000

Impressive stone farmhouse with extensive grounds and views of Radda and the Chianti countryside.

Nestled into the hillside, in an elevated position and under ten minutes from the medieval hill-top town of Radda in Chianti. One arrives at the property down a short white road to find this charming traditional farmhouse which dates back over 400 years.

Main Farmhouse The main house is fully restored boasting large fireplaces, terracotta flooring and oak beamed ceilings. The accommodation is spread over two floors with a total floor area of 380 sqm. On the ground floor one finds a spacious living room which enjoys lots of natural light, a dining room, a kitchen, single bedroom and two bathrooms. On the first floor there are four bedrooms with two bathrooms.

Guesthouse To the east of the main farmhouse sits an independent barn which the owners have had classified as 'civil habitation', therefore meaning it may be lived in. The barn has been completed to a 'builders finish', meaning that the major works have been already done (foundations, roof, plants).

There is also a small agricultural building of 35sqm.

Gardens & Grounds The property boasts extensive grounds and gardens covering a total of 33 hectares including woodland and 2 hectares of olive groves. The gardens wrap around the main house and guest house providing ample places to sit and enjoy the views shaded under the mature pine and cypress trees or alongside the abundant beds of lavender and herbs.

A large dining terrace extends from the kitchen to the swimming pool area, positioned to face south allowing long hours of sunshine in the summer months and breath-taking views over the valley below. The swimming pool measuring 10mx8m has wide paved areas for sunbathing and relaxation and two small rooms beneath for the pumps and filtration systems.

Location The absolute tranquillity of this house is rare to find in a property which is so conveniently located to the Chianti region’s main attractions and villages. In under ten minutes one can be in the square in Radda and under 15 minutes to Castellina. For a larger range of shops and restaurants one can also visit Florence and Siena which are both located under 1 hour from the house.

Florence 45mins | Siena 45mins | Shops & Restaurants 5mins | Banks & Supernarkets 5mins | Pisa Airport 90mins

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.

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