Sale of Full Ownership to Private Investors

Palazzetto Balbi

Owner of the Public Asset

Region of Veneto.

Private Investor that Acquired/Leased the Public Asset

Canal Grande srl real estate company.

Location

San Marco district, Venice.

Original Destination of Use

The palace is developed on six floors with two independent entrances that lead to a part for public use (offices and shops) and one for private use (apartments). The building is composed of property units owned by the Region of Veneto and the State used as offices and apartments by the two authorities. The final destination of use compatible with the structure could be residential, retail  or office. Palazzetto Balbi, which served as the seat of Civil Engineering Offices until June 2016, belongs also to the Italian Public Property Agency by 12%.

Selling Costs

€6.3 million.

Maintenance Conditions

Good.