6 bedrooms historic apartment, 335 m²

Canelli, Asti (province)

Montferrat

Description
Located in very centre of Canelli, famous for the production of Bollicine and Moscato, this historic Palazzo was built in the late 1800’s and structurally restored by the current owner during 2022.   This villages offers a number of shops, markets and restaurants on your very own doorstep.

History

Canelli has a very old origin with the first inhabitants arriving during the Roman era. The town flourished between the end of the 18th and the beginning of the 19th century when the wine industry of Moscato d’Asti developed. Today the immediate area of Canelli hosts over 500 registered wine producers while the town itself is a UNESCO World Heritage Zone attracting large sways of visitors. The visitors are attracted by the food, wine, culture and – among other things – the breathtaking “Underground Cathedrals”, – a masterpiece of underground engineering spanning 20 kilometres used for the storage of millions of bottles of Bollicine.

It is in this thriving town and culture that the four storey “Palazzo della Bandiera” (Palace of the Flag) is located; offering a new owner several development opportunities as either a large private home, as a hotel/B&B or as a project by dividing the property into 3 or 4 flats.
It is said that the palace was one of the tallest buildings in the historic centre of Canelli, and that a flag was always displayed on the top floor, of which the flagpole holder still exists today, fixed on the railing – hence the name “Palazzo  della Bandiera” .

Current building

The recent works include a new roof and a total renovation of all the facades as well as balconies and railings. Also, the internal stairs, made with iron railing and handrails in worked wood as well as mosaic flooring, hand-painted doors and some windows and shutters have been renovated and retained – paying particular attention to the choice of materials, in order to safeguard the architectural elements and historic importance of the building.

Inside the apartments you will find, near perfectly preserved, three ceiling frescoes by the painter Giovanni Olindo, dating back to the early 1900.

The entire housing unit measures 335 square meters, arranged on four levels plus a basement. It is currently divided into three residential units, one which is laid out over the first and second floor and with an internal staircase, one on the third floor and finally an impressive area under the roof totally covered in glass giving you a 270° view of the red roof tiles and the hills surrounding Canelli. It is important to notice that this area is categorised as “habitable”.

One potential project

One of several ideas is to divide the building into four individual units, each with a vaulted ceiling or period frescoes. The first, second and third floor would then contain a kitchen / living room, one bedroom, a modern bathroom as well as some extra storage area.

On the fourth floor the area with visible (new) roof beams and floor to ceiling windows / glass doors on three sides and with access to two balconies – would be converted to a loft / penthouse type of area containing a combined kitchen / living / sleeping area.

The basement is visaged as common area for the residents.

Other ideas

Other ideas include combining the second and third floor as one unit which would then include 2 bedrooms. Yet another idea is to use the 4 flats idea for holiday lets, – maximizing the return of your investment. “Palazzo della Bandiera” has plenty of possibilities. 

Please contact me for a viewing of this historic property and a discussion of the development potential.