1. Are properties at the Pinelli Estate freehold?
Yes, each property is owned by a separate UK-registered company. The owners own the company through shares, the company owns the property.
2. What is the cost of collective share ownership?
There is an absolute maximum of 10 shareholders/owners for each property.
This allows for each owner to have 5 annual weeks exclusive use of their property for each share owned. Some current owners have multiple shares to provide them with 10 or more weeks exclusive use each year and the option of enjoying rental income for unused weeks.
Il Rifugio GBP 120,000 for each 10% share ownership
Casa Tramonto GBP 155,000 for each 10% share ownership
Vila Velius GBP 120,000 for each 10% share ownership
3. Are the 5 weeks offered variable?
Yes. The weeks are allocated each year on a rotating priority basis, to ensure each owner always receives 2 weeks in the peak season and 3 weeks in the off peak season. Weeks may be exchanged with co-owners, used by friends and family or rented to a third party,
4. What exactly does ownership include?
A 10% share in the Pinelli Estate entitles each member 5 weeks exclusive residence at their home, the captained use of The Pinelli (Rizzardi luxury motor yacht) during that time and use (but not ownership) of approximately 30 acres of olive groves and vineyards.
If you wish to rent part or all of your weeks, then the management company will assist you. The potential income from rental is very attractive and buying one or multiple shares allows you to take full advantage of the demand to stay at Pinelli Estate.
Current (2020) rental rates per week at the Pinelli Estate:
- Low Season Nov 01 2020 - Apr 30 2020 €5,000
- High Season May 01 2020 - Oct 30 2020 €10,500
- Christmas/ New Year Dec 01 2020 - Jan 06 2021 €7,500
5. What are the closing costs on my purchase?
There are no fees when purchasing your 10% share, but there are the costs of :
- Your legal counsel
- UK Government stamp duty currently 0.5% of the share purchase price
If you would like to discuss purchasing a share at the Pinelli estate with London based lawyer please contact :
Tanda Migliorini & Associates LLP
1 Temple Avenue
There is an annual maintenance fee which is equally shared between all of the members to cover the running costs of Pinelli Estate.
6. How can we visit the property before buying our share?
We strongly recommend an inspection visit and a trip to discover the secrets of Cilento as soon as possible. Naples International airport is approximately one and a half hours drive from Pinelli Estate.
8. Can I change my mind: if so, by when?
Yes. There is a mandatory 14 day cooling off period after you have paid your deposit which will be returned in the unlikely event you decide not to proceed.
9. Can I sell my Fractional Ownership share at any time in the future?
You are free to sell your share at any time, at a price that you agree with the purchasing party. Re-sale of a share in Pinelli Estate. must always be offered to existing shareholders first. The management company will assist owners in the sale of their share if they wish to.
10. Are there any ownership rules?
Yes. The holding of the owner’s share is subject to the terms of a subscription agreement, the articles of association of the company and a set of house rules and regulations. These documents will be made available as part of the acquisition process. We regret that pets cannot be accommodated and it is illegal to smoke inside any of the properties.
Please refer also to our FAQ page for even more FAQs