Italy from €363,000:Luxury chalets in an Italian ski resort - run under the Kempinski brand - could tempt Irish investors, writes Jack Fagan
An Irish business consortium, which has developed a high quality ski resort in the Italian Alps, is to release for sale this week a new phase of chalets expected to appeal to buyers looking for both five-star accommodation and a good long term investment.
Kempinski Pragelato Village, located within 90 minutes drive of Turin, was one of the principal venues for last year's Winter Olympics.
From the very start, the resort has been aimed at the top end of the market, and it was no surprise when it was announced just before Christmas that the Kempinski Hotel Group - best known for its management of one of Europe's finest ski hotels in St Moritz - would also be taking over responsibility for Pragelato Village.
Kempinski is acknowledged as one of the top five-star hotel management companies in the world with a proven track record over 110 years of delivering success and quality of service.
Even with the great style and ambience of the village and the excellent range of facilities, many of the residential units are still quite affordable for Irish families.
One-bedroom chalets which can sleep four people will be priced from €363,000; two-bedroom chalets and apartments to sleep six will cost from €434,000; while three-bedroom chalets capable of sleeping eight will go on the market at prices starting from €902,000.
Purchasers have the option of putting their new holiday units in a rental pool to be operated by Kempinski when they are not required. Sales are being handled by London ski specialists Investors in Property. At most times there are at least half of the 204 chalets and apartments available to rent through Kempinski.
The attractive chalets are built in clusters around the hotel and the village centre where there are shops, a delicatessen, café, four restaurants and a bar.
The town centre also has a Daniella Steiner Spa which puts health care and fitness on a new level.
It has heated indoor and outdoor pools, saunas,Turkish bath, gym and treatment rooms.
There is also a separate nursery and children's club which allows parents with young children to enjoy the skiing while their offspring are being looked after.
A private cinema has also been provided on the campus which, incidentally, has been designated a car-free area.
Most impressive of all is the luxury fit-out of all the chalets which are primarily geared to suit families. Most have a livingroom and kitchenette.
All the furniture and fittings, down to the plasma TV screen, will be in place when buyers move in.
The resort also operates a concierge service to arrange for homes to be cleaned and stocked with food and wine. Otherwise food can be prepared in the hotel and delivered to the chalets.
Dublin businessman Alistair Tidey, who is leading the Irish consortium behind the development, says that given the high standard of the chalets, the hotel and other facilities, the residential units were good value.
Tidey and his wife, Jane, were the driving force behind the development of Pragelato Village.
Since its completion, it has been frequently cited as one of the best new developments in the Italian Alps.
Its location, in the Piedmont region, puts it on a good road network close to the French border.
Equally important for skiers is the fact that it has a cable car running from the resort to the Milky Way ski area.
0044 208 9055511 jessica@investorsinproperty.com
