Fractional ownership means that you share the full ownership of a property with other co-owners and is as much an asset as a traditional Italian house purchase.

The Pinelli Estate

Fractional ownership in Italy

The Pinelli Estate - or La Tenuta Pinelli, as it is known locally - is exceptional in every sense. Realpoint Property has been awarded the exclusive right to sell the estate that currently consists of three properties: Il Rifugio, Vila Velius and Casa Tramonto, set apart, in positions that ensure maximum privacy.

Located on rolling hills, the Pinelli Estate enjoys breathtaking panoramas over the Cilento National Park in Campania, Southern Italy. The estate extends over an area of 30 acres and is dotted with olive groves, vineyards, lemon and fig trees, providing a visual feast for the owners.

Naples International Airport (115 km) and Amalfi/Salerno Airport (40 km) allow you to be poolside a couple of hours after landing. If you prefer, you could head for the golden beaches and crystal waters of the Cilento coast just 10 km away which can be seen from the estate. Discover more about the location and history of the Pinelli Estate here.

The interiors of the houses have bags of old world charm. Everything you would expect from traditional stone properties: timber beams, exposed stone, parquet floors, open fireplaces, and at the same time, elegant furniture and every modern convenience to make your time at Pinelli as relaxing and carefree as possible.

Outside, shaded terraces make al fresco dining a must, and heated infinity pools enhance the languid atmosphere, offering luxury living at a fraction of the usual cost.

Collective Ownership at the Pinelli Estate

Fractional Ownership at the Pinelli Estate Campania ItalyProperties on the Pinelli Estate are sold as collective (or fractional) ownership.

Through collective Ownership, you can be one of an exclusive group of ten owners; each with a 10% share in the UK registered company that owns the property.

From GBP 120,000, you will enjoy 5 weeks annual residency in your own home. You will have all the upsides of ownership without the year-round costs of maintenance or the worries that go with it. The other nine owners enjoy the same benefits, and all repairs and maintenance are conducted in one 2 week period every year.

Each property is fully managed and includes:

  • Services and utilities
  • Fully furnished throughout (including all dining and kitchen equipment, bathroom towelling, hand towels and swim towels etc)
  • cleaning and laundry
  • Pool management
  • Gardening and estate management of olive groves and vineyards.
  • Local taxes and full property insurance.
  • Every aspect of the running and management of the properties is organised and managed for you.

The estate's management organise the occupation of the property to ensure each and every owner arrives to just relax during their stay. They also manage rentals on your behalf should you choose to offer any of your weeks for rental to paying guests. Best of all, you can personalize your property as much as you like. Prior to your arrival, the estate manager will remove your personal possessions (family pictures, artwork, ornaments, etc.) from their on-site storage and place them exactly where they were when you were last at the estate. On departure, they are removed and placed back into storage. 

American clients will be familiar with the well-established and popular concept of collective ownership, found across US resorts and the Caribbean, but it is still a relatively novel approach in Europe. It is totally different to time-share, as your shared ownership of the property is freehold; an asset that can be re-sold or passed to a family member at a future date.

Enjoy a luxury life style by buying a share of the collective ownership at the Pinelli Estate - sold exclusively through Realpoint.

Advantages of Collective Ownership

Being a collective owner of the Pinelli Estate offers:Collective and Fractional Ownership in Italy

  • Economic sense - A luxury lifestyle in superb properties at a fraction of the ownership cost.
  • An efficient, well run management company to take care of all aspects of the running of the estate, including rental, so all you have to do is relax by the pool and soak up the sun.
  • Your share is a property asset like any other that can be transferred and sold.
  • Personalisation - when you arrive your own personal effects will be waiting for you
  • You'll never tire of the views: the Mediterranean, olive groves, vineyards and the Cilento national park!
  • A proven model - happy owners that will tell you about the benefits of collective ownership at the Pinelli Estate.
  • You can enjoy use of a fully captained and crewed Rizzardi 50 Top Line motor yacht, licensed for up to 12 guests plus the crew.
  • Buying multiple shares is also possible.

Properties of the Pinelli Estate

There are currently three unique properties on the Pinelli estate, nestled amongst the olive groves and lemon trees, each totally private from the other, above the historic town of Agropoli and just 90 minutes south of Naples and its international airport, and 40 minutes from the new Sorrento/Amalfi airport opening in late 2020.

Il Rifugio

Il Rifugio Fractional Ownership property at Pinelli Estate

Il Rifugio - the refuge 

4 bedrooms 

Il Rifugio is a four en-suite bedroomed villa featuring a cool lounge, hall, state of the art kitchen and decadent dining room. Step outside to over 150m2 of immaculate private terracing and the infinity pool.

Casa Tramonto

Casa Tramonto Fractional Ownership property at Pinelli Estate

Casa Tramonto - sunset house

5 bedrooms

Casa Tramonto offers spectacular views of the sea and the National Park. Five double ensuite bedrooms, underfloor heating, air conditioning and hand picked 18th century antique furniture - an absolute gem.

Vila Velius

Vila Velius Fractional Ownership property at Pinelli Estate

Vila Velius - the hidden gem

4 bedrooms

Pinelli architects have designed Vila Velius so that embraces the classic and traditional look of Cilento stone houses, using modern techniques to create a sumptuous four bedroomed hideaway with infinity pool.

Top Ten Questions About The Pinelli Estate

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
Hamilton House
1 Temple Avenue
London
EC4Y 0HA
www.tmalegal.com

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

 

RealPoint Property Ltd.
Registered in England and Wales.
Registered Number: 4753346

 

Web: www.realpointitaly.com
Beverley, East Yorkshire, UK
Tel: +44 (0)800 883 0460 (free call within UK, standard UK landline rates for international calls)


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