This property is of exceptional architectural interest and is located in the historic city centre of Milan, near Via Torino, Piazza Duomo and Piazza Affari. This free-standing and partially let building, with access fromH Via Santa Marta, can be used as residential apartments, retail units and offices. Due to its strategic location and use, this property is an excellent investment opportunity in the city of Milan.
The 7 units used as shops and offices are let with contracts of varying length, for a total rental value of € 145,754.71; 10 units are let as private homes, 6 of which are regularly cancelled and the relative rents are collected in compulsory purchase compensation, for a total rental value of € 103,021.69
The property consists of a free-standing L-shaped building with access on Via Santa Marta, 15 and 17. and develops long Via Santa Marta and the corner with Via San Maurilio, with a central body surrounded by two courtyards. The original building, built in the fifteenth century, was radically renovated in the seventies and is in a fair state of maintenance as well as being listed (Legislative Decree 22.01.2004 No. 42 part II – Title I as amended and supplemented). The property consists of an underground floor used as cellars for the flats and deposits for the shops, a ground floor used for shops and offices with shop windows on both streets.
The private homes are on the first through to fourth floors, with access to the two buildings with two separate stairwells and lift. There are a total of 29 real estate units, 22 for residential use and 7 for tertiary, commercial and office use. All the non-residential units are let, whilst 10 flats are let and 11 are vacant,as well as the porter’s flat. The general state of maintenance is fair.
The property is located in Via di Santa Marta, in the old city centre of Milan (1,337,155 inhabitants), which is the capital of the province (3,196,825 inhabitants),and the first municipality of the Lombardy region. Milan is the largest Italian municipality in terms of residents after Rome. The building is located near Via Torino, a commercial road that leads to Piazza which is only 650 metres away. The area is very elegant, with prestigious buildings and offices, residential complexes and shops, galleries, museums, a university and restaurants. The area is served by excellent public transport, with tram lines 2, 3 and 14 and Underground lines 1 and 3 (DUOMO stop).
The property is located in a restricted car access zone (AREA C).