This document summarizes an investment opportunity to develop a 350-hectare golf resort in central Italy, near Orvieto. It would include a 27-hole golf course, the largest in the region. The area has seen growing golf tourism and has favorable climate for year-round golf. Existing hotels and infrastructure could complement the development. Licensing has been approved for 48,000 cubic meters of new construction across villages, expanding the existing resort facilities.
1. Prime Golf development Investment
We are proud to present a prime Golf Investment Opportunity in the center or Italy, in the
Umbria Region.
For the wise investor group an investment in a 350 ha, 27 holes Golf Course in Europe
represent and intelligent objective, mostly if the project can be a new, unique, deluxe, stand
alone Golf Resort, in one of the most turistic regions of of Italy.
Before presenting you the project let’s review the landscape of such investments, and see the
reasons why an Investment in a stand alone European Golf resort in Italy, represents today a
valid choice, with an appealing tournover perspective.
Europe Golf course scenario
Europe’s 5,896 courses represent 47% of all courses not in North
America. Courses in the mainland have increased 80% in just ten
years and golfer numbers are growing at 5% annually.
Of the Western European countries, Italy (363,000), Portugal
(204,000) & Spain (170,000) are the most poorly supplied areas.
With a lot of unexplored potential for Golf Investments, in new
course development.
In the last 14 years (1997 to 2006) the number of golf players in
Europe (36 countries whose national Golf Federations are
organised in the EGA) grew substantially faster than the number
of golf courses.While the number of golf courses increased with about 21,3%, from 5.406 in
1997 to 6.555 in 2006, the number of golfers (organised in clubs) increased from 2.857.004 in
1997 to 4.275.935 in 2006, an increase of 49,7%.
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
2. Within Europe, the UK and Ireland claim 51%of all European golf courses and 43% of all
registered European golfers, yet only 15% of the European population. Actual numbers say that
on the continent, the “Big Four” in the golf market are Sweden, Germany, France and Spain.
These four countries have 68% of all golfers and 61% of all golf courses.
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
3. 2. Investing in an Italian Golf Course is Sexy
The KPMG Golf Benchmark Survey 2007 finds that the business performance of golf courses in the
Southeast Mediterranean region should be excellent (31%) or good (69%) versus that in Western Europe,
where results indicate a performance of good at 56% and excellent at 17%.
Globally, the number of golf courses is growing by 3% annually, with a 5% growth in the number of
players.
Year Round Golf
The climate in Italy is ideally suited to year-round golf. Average winter temperatures in southern Italy
average 14C.
Currently in Italy the turnover of the sector is
about 350 million euros.
Currently in Italy there are 200 golf courses,
a figure considered too small by the Government,
especially given that the international tourism linked
to the sport generates a
turnover of 28 billion euros and produces a
positive effect in terms of employment, with
about 700 thousand jobs created, providing a
revenue of 14 billion euros.
According to industry statistics, every golf course,
on average, provides job opportunities for 100
people, not to mention the employment
opportunities arising from the works of construction
of facilities and accommodation attached.
According to data from Palazzo Chigi, who chose
our country to take a golfing holiday is aged
between 54 and 65 years and spends an average
of 90 euros per day (excluding room and board)
against 53.83 of the other tourists.
The lovers of the green and holes are people who have considerable financial resources and
whose passion for this sport in Italy, produces a turnover of around 350 million euros, while in
Europe the figure is around 50 billion euros.
A tourist market, one related to golf, which grows continuously throughout the world, reaching a
rate of 8 per cent per annum, with 25 million tourists who annually travel to play.
In Europe, the increase in the number of players in the last 15 years shows an increase of 108%,
while, on the infrastructure front (made new fields) there is a +75 percent. In Italy there are over 180 golf
clubs with regulations 9 to 36 holes, 43 facilities that offer promotional fields from 3 to 9 holes and 59
practice fields.
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
4. Golf development Investment. Why a stand alone
Golf Course - A closer Look - Orvieto - the
landscape
Take Umbrians and Etruscans, both sides of the river
Tiber. And then – again – Romans, Lombards,
Guelphs and Ghibellines, mercenaries, kings and
emperors, popes and cardinals. Mix them together
well for three thousand years.
Add the most inspired artists, the sons of the land and
those who were attracted like a magnet to this land
and its beauties. Serve on a dish of hills covered with
vineyards and olive groves, bordered with the greenest mountains, these scored with
enchanting valleys.
Flavour with a few wild corners, where nature still dictates and animals roam free, quite
undisturbed by humans. Moisten all with the
impetuous waters of the Marmore Falls. Season
with the strongest and most genuine flavours your
palate can taste.
Decorate with the Chant of Francis, the Monk who
found here his deepest inspiration.
Here we are, everything is ready. The Province of
Terni, from the Nera Valley to Orvieto, is a
surprise recipe.
If Umbria is the green heart of Italy, the
Province of Terni represents its most
successful synthesis.
In a not so vast territory, within a few kilometres
from one another,are found the intense green of the Appenine mountain woods, those of ochre
tones, and the colours of the cultivated hillside lands typical of the countryside of central and
Southern Umbria.Then, in the middle, the valleys scored by the main rivers in the region – the
Tiber and the Nera- which, with the lakes, mark and distinguish the Province of Terni almost as
if it were water, surrounded by land. The river parks of the two most important water
courses, guarantee total immersion into the world of nature, with the Alviano oasis, the
valley below the Corbara Lake, kingdom of migratory birds, and above all the stunning
Marmore Waterfalls, created by the ancient Romans which, throughout the course of centuries
have enticed special tourists – artists, poets and writers who have sung of its “horrid beauty”.
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
5. Appealing tourist attractions:
Most relevant are: Pienza, Montepulciano, Torrita di Siena, San Quirico d'Orcia,Chiusi,
Cortona, to say few, while Orvieto remains the main attracion of the Terni provence
Orvieto
At about 25 km away. The city of Orvieto, in symbiosis
with the tuff cliff on which it stands, is an outstanding
example of integration between nature and man.
Awareness of this relationship between nature and
architecture is expressed explicitly, as the inscription
affixed to the famous well of St. Patrick which reads
"quod nature munimento inviderat industry adiecit"
clarifying precisely, that "What nature had denied to the
defense - in this case water - the added human activity. "
Visiting this city is like going through the story, because
we can find, layered and concentrated, the traces of all
ages for almost three millennia, from the findings that
testify to its Etruscan origins and medieval Renaissance to the many testimonies. In addition to the
Cathedral of Orvieto, a masterpiece of Italian Gothic, are to visit the Well of St. Patrick's was built
between 1527 and 1537 and designed by Antonio da Sangallo the Younger. The Fortress of
Albornoz was in 1364 and was built by the Cardinal of the same name. The Belvedere is the
Temple of the fifth century. BC, the People's Palace, built around 1157 is in Romanesque-Gothic
style. Seven of the Palace was built in the thirteenth century, one of the more important
magistracies of the city. The Town Hall was built during the establishment of the Free Town, in the
late '500 subjected to a radical restoration of Hippolytus by Barefoot. Numerous other buildings and
monuments, make this unique city.
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
6. 3.The core proposal
La casella project
Advantages of Investing in Golf
·Climate favourable for year-round golf
·Significant unmet demand, huge potential for growth
·Available land amid spectacular settings
·Well-developed tourism infrastructure to complement the golf experience
·Ideal location to attract both dedicated and recreational golfers
The Italian government has identified tourism infrastructure development as a priority
target and encourages the development of new golf courses throughout the country.
Golf is one of the most promising investment sectors in Italy today.
Three suburbs around the “la Casella” Area, have
accepted the development plan of the Golf
Course!
All is set and ready to let this investment grow
fast and stable.
… And There is a reason why it is called the Center of Italy.
The region is easly accesible from the main capitals and airports, becoming an easy
gateway for international golfers.
Roma: Km ca. 120 - Firenze: Km ca.120 - Milano: Km ca. 450 - Napoli: Km ca. 400
Halfway between Rome and Florence, along the motorway A 1 exit at Fabro, turn left towards Parrano. After 7
km, before beginning the ascent of this small medieval town on the right is a message for the mailbox. Again 6 km
of gravel road and you're there.
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
7. Golf competitors in the area.
Already chosen by other less unique golf resorts. This makes the marketing of a new project
easly accepted by the accostumed golf tourism, investing in an already developed Golf location.
At the moment 8 golf course all of 18 holes are populating the area.
Per se a unique 27 holes Golf resort with the possibility to have independet turistic venue will
have no competitors...
We know that investing in a Golf Course and a Golf Resort is like taking
care of a human being, and just like a human being can give
tremendous satisfaction, so if you are not in love yet with the idea of
investing and creating a Prime Golf Course and Golf Resort in the area,
continue reading to find out about the numbers...
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
8. The Project- core 2.
The creation of a Golf Course - 27 holes - located in
the valley of the river Chiani and in the municipalities
of Ficulle - is a unique opportunity for an investment:
The main features are:
● the central location compared to the main
international airports and cities of Italy;
● a large and luxurios terrain of 350 ha;
● the region which is well equipped to further
develop tourist infrastructures;
● the cooperation of the main regional public
organs;
● the already developed turistic private hotel “La
Casella” as part of the deal
On top of this features, it is well clear that the Territory will
benefit from this new realization, drawing direct advantages.
What comprises the area of Poggi, with the urban sectors
identified for some time and absent, and La Casella, whose
future tourism development accommodation has already been
programmed, makes them relevant planning instruments of the
respective municipalities.
In the City of Parrano, that new sports facilities will support the important initiatives of hotel and
tourism development on the territory of the Principality in the light of the expected and desirable
thermal activation.
Once in operation, will be a key element in tourism development receptive of the Orvieto
District.
The project in question essentially provides the first implementation of five villages each of
which express a different range of tourist accommodation both for quality and service and that,
together, these genereraimo offers an integrated offering.
The property in question covers about 350 hectares in the municipalities of Ficulle and Parrano
(TR) and includes the first. *see picture folder for landscape
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
9. MORE ON LOCATION, ACCESS ROADS
AND 'INSIDE
The property lies in the towns aforesaid, it Orvieto,
between the motorway exits (A1 - Autosole) Orvieto and
Fabro, halfway between Rome and Florence.
Aeroport reference: Perugia at 50 minutes, Rome
Fiumicino and Rome Ciampino 1 hour and 15 minutes.
Railway Stations: Chiusi and Orvieto intercyti to 25
minutes, Fabro / Ficuile for local and local fast 15 minutes
Access is:
a) through the first street called Box that coiiega Aila
provincial Ficulle (Umbria-Casentino) at step of the Monte
Kite, b] of the road called Mill Parrano that connects to
the provincial Fabro Scalo - Parrano The internal road
Company is provided by a set of local roads of medium
width, unmade, and maintained such that sufficient
enable transit in normal conditions for any type of vehicle.
From this network. you access to all the houses in the
same.
Deepening the Orvieto Golf & Country Club - Building possibility
Further more exist another agreed protocol/ 11 / 2009 and subsequent approval of the provincial
government of Terni - Resolution 249 of 3 / 12 (2009 and supplemental agreement dated 13 /
10 / 2010 and the Municipalities of Ficulle Parrano and Penta County to move on the grounds of
The Box and the provision of other construction of a 27-hole golf course assigning a volume the
same tourist-accommodation of approx. 25000 cubic meters. new construction.
The astonishing Total cubic area available for development is
48.000 cubic meters that will add to the existing one developed
on 4.300 m2, boosting the mixed existing infrastructure with
and potentially new private villas, suite, public places! - see
below for details.
Total value of the above mention area, already licensed for
construction of 48.000 mc + the existing 4.000 mq of
construction and the 350 ha is
20.000.000 euros.
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
10. The key point: Turnover
1.Assumptions
Let’s have a look at the assumptions created following the leader RCI standard
turistic stats, and with the maximum use of the available 43.000 m3 area for
buildings:
numbers of unit avg smq x unit
60 suite 45
30 ville 150
30 ville 120
80 suite 85
60 suite 80
40 suite 72
public areas includes: reception, bar, 3.800
restaurant, spa
Furter and more detailed assumptions:
80% occupancy rate for the year (52 weeks x y) and boarding of 0.60 per pers;
Maximising the investment and planning the sale of timeshare vauchers, we generated
total:
● 2086 beds x year
● 297.782 total timeshare vaucher;
● avg 17.44 sul/Pl (gross surface/person)
● avg 816 daily occupancy
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti
11. Assumptions on the golf course created a 50% use on occupancy projection, with
total 8660 golf users x year.
With this assumptions a gross1 Break
Even Point reached only at the
12.000 user of the timeshare&golf
ticket package! 2
A unique opportunity indeed to exploit the
untapped potential of Italian and European
stand alone Golf investment market.
Further details available on request.
Investment opportunity brought to you by:
1
maintainace and marketing excluded
2
see advanced files for details
Via Panama, 100 – 00198 Roma
Tel. +39 06.97.99.48.19 – FAX +39 06.97.99.48.21 – www.coldwellbanker.it/fleming - fleming@coldwellbanker.it
Una rete internazionale di agenzie immobiliari autonome ed indipendenti