A look at the Tuscan village for sale for €40m

http://www.realestate.com.au/blog/look-tuscan-village-sale-e40m/

Ever wanted to own a whole village? For just €40 million, the gorgeous village of Poggio Santa Cecilia in Tuscany can be all yours.

Located near the medieval town of Siena, the Poggio Santa Cecilia property portfolio is a 700 hectare site.

It includes an organic farm, 20 farm houses, the church of Madonna Ferrata which has a bell tower, a 7,000sqm 18th century villa, partially restored stables, an olive mill, workshops and an underground cellar.

There are also orchards, vineyards, lakes and forest areas.

Market update: South Yarra trio sold for $33m

The village dates back to the 1100s and several of the existing buildings are thought to date back to the 16th century.

Some of the structures in the town feature coats of arms carved in stone or wood.

The village was owned by the Buoninsegni family whose grand villa is one of the more impressive buildings included in the sale.

The buildings are structurally sound, but many need to be completely remodeled and repaired. One expert says the potential buyer could need to spend up to €20 million to restore the place to its former glory.

The village was occupied up until the 196os when locals were lured away by jobs in other sectors like mining, as reported by Sky News Real Estate’s Prue Miller.

A group of investors bought the town 50 years ago and have established a successful organic farm on site, but are now selling as they wish to retire.

Design: Adelaide heritage home gets a jaw-dropping reno

The group wants the new owner or owners to buy the business and restore the village and they will only sell the properties together.

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