Auction Date Announced For Sale of Castle of Parrano, Umbria, Italy

The exclusive collection, which is currently being marketed through Christie & Co’s Hotel experts and offers development potential, has been scheduled for auction in Orvieto on 23 November 2021, with a reserve price of €15 million. Bidders will be required to submit an offer in person in a sealed envelope, together with a cheque equivalent to 10% of the minimum asking price in Euros.

The full list of assets available for sale comprises:

The fully refurbished Castle of Parrano with 26 master suites and spa centre
4 buildings located in the medieval village of Parrano
23 casali/ farmhouses dotted around the village with potential for conversion into villas and fractional ownership; ranging in size between 1,600 and 150 sqm – potential for 75 additional accommodation units
741 acres of hunting reserve
12 small lakes
Various stables
Around 2,500 acres of agricultural land available for redevelopment
An outdoor shooting range spanning 25,000 sqm which requires redevelopment
Opportunity to develop a 130-key hotel with golf and spa facilities on 5,300 sqm of land

The secluded but easily accessible municipality of Parrano is located between Rome and Florence on a 2,700-acre estate amongst the Umbrian hills, in the Province of Terni, and is currently home to around 500 people. The picturesque village was developed around the Castle of Parrano, perched high in a strategic position on Roman ruins to control the valley below, and boasts a rich cultural heritage dating back to the year 1000.

Recognised by UNESCO as a unique biosphere, Parrano is an ideal base to explore the ancient Umbrian region, renowned for its historic and diverse range of landscapes, from rolling green valleys dotted with medieval towns, to dense woodlands, vineyards and fields of olive trees. Nearby attractions which draw visitors to the area include the “Tane del Diavolo” a complex system of caves which are thought to have been inhabited since the Upper Paleolithic era (30,000-10,000 years ago) and “Bagno del Diavolo”, a thermal park which sits at the foot of the village.

DATA ROOM: For further information about this opportunity please visit our virtual data room HERE.

LISTING VIDEO: You can also view a dedicated listing video which outlines the opportunity HERE

NOTES TO THE EDITOR:

Auction Details

When: 23 November 2021 at 4:30pm (CET)

Where: Avvocato Roberta Scarchini, Piazza del Popolo n.21, Orvieto, Italy

How: Bidders or a representative of the bidder will be required to submit an offer in a sealed envelope in person, together with a cheque equivalent to 10% of the minimum asking price in Euros”.