200 bedrooms residence, 9500 m²

Germignaga, Varese (province)

Lake Maggiore

Ex-Silk Factory owned for a 100 years by Swiss family STEHLI, in the center of town of Luino (Germignaga minicipality) on the left shore of the river Tresa, connecting Lake Lugano in Switzerland to the lake Maggiore in Italy, within walking distance from lake Maggiore parks and beaches, 500m away from Luino Railway station and 3 km from the Swiss border.

Luino acts the administrative, commercial and cultural center for the surrounding valleys. The Luino’s famous lake front promenade is very well taken care of and well serviced with many bars, restaurants, and rest areas.

Equipped beaches and the new marinas for yachts attract many tourists from Switzerland, Germany, Holland and France. By boat can be comfortably reached locations like Locarno (CH), Stresa, Borromeo Islands and other major points of interest on lake Maggiore.

The famous Luino Promenade extends for 1,5 km along the lake, starting from the new yacht marina
Today the Luino & Germignaga's promenade is the longest and the most well services lake shore
of public use of the entire Maggiore lake.

Property description:
- Land plot between the Tresa river and Huber street: 3.790 m2 / 40.795 sq.f.
- Area covered by the buildings:  2.850 m2 / 30.677 sq.f.
- Total covered area of indoor premises:  9.432,5 m2 / 101.530 sq.f.
- Total existing volume of the buildings:  28.500 m3 /  1,006,468.00 cubic feet
- 2 adjacent owned parking areas: 250 m2 in Via Huber + 533 m2 in Via Filzi

The change of intended use from Industrial to Residential/Commercial/Services/Welfare etc. has been approved by the Germignaga Municipalty and integrated into the adopted in 2022 Territorial Government Plan (PGT) and Integrated Intervention Plan (P.I.I.), ready for prompt realization.

The admitted functions are:
- Tertiary services,
- Tourist Facilities & Hotels,
- Residences,
- Social and Welfare Facilities (Retirement Home / Nursing home)
- Directinal functions (offices),
- Commercial (including medium size supermarkets up to 1.500 sq.m.),
- Integrated neighbourhood businesses,
- Infrastructure & Services for the culture, shows and leisure,
- Public spaces and facilities and/or of public use.

The choice of use is completely free within the above range and their distribution/combination is negotiable with the local Municipality.

The structure of the building is over 100 years old with thick brick walls and in healthy structure conservation state

Currently there are no heating systems installed.

The building is locked and unused for several years.

The property is completely free of any financial burdens, debts and mortgages.

It is 100% owned by a private Italian real estate company, shares of which can sold together with the property, or used as conferment to the share capital of a new joint venture, created for realization of the renovation project.

The change of destination of use is already approved by the local Municipality and construction permits can be promptly issued upon presentation of building conversion project. Distribution of internal spaces can be freely modified while the facade of historic value of the eastern part of the building, facing the river and the old bridge may be requested to keep as it is.

Based on the latest Government incentives for requalification of the old industrial buildings, there are government fees reductions and internal volume increase opportunities available.

Owner is available to evaluate proposals for sale/rent of the property "as it is", or entering into the partnership for joint renovation/requalification of the buildings into Hotel / Residense / Nursing Home / Apartments etc.

Renovation project ready for realization is available upon request.