Discounted italian development opportunity with 44% ROI

THE TWO PALACES
I DUE PALAZZI
Montalto delle Marche
ITALY
© Copyright Cocoon Sacconi Ltd 2015

Cocoon Sacconi group
Welcome to The Two Palaces, I Due Palazzi, investment proposition, an opportunity to own
and develop an important piece of Italian history in the beautiful, peaceful, affordable
and increasingly popular Le Marche region.
The Cocoon Sacconi group of companies owns Palazzo Sacconi and has recently added
the rights to market Palazzo Vescovile to offer a complete historic story.
Palazzo Sacconi, whilst a spectacular granary, is classified as storage (warehouse) and so
Cocoon Sacconi worked with its technical team and local authorities to gain approval for
its conversion into residential and/or commercial use. With Palazzo Vescovile, this now
creates a substantial and viable redevelopment opportunity.
British architects, EMC Ltd, have teamed with Cocoon Sacconi to create an option for
redeveloping and integrating The Two Palaces.
This brochure aims to share the historic story and to show the potential for this attractive
investment opportunity.
Fran Kruc
Chairman, Cocoon Sacconi Ltd

Location
The Marche region borders Tuscany and
Umbria to the west and the Adriatic
coast. Inland from Ancona and
Grottammare on the coast, Montalto is in
the province of Ascoli Piceno and sits
midway, some 30 minutes from both,
between the sea and the Sibillini
Mountains.
Whilst still considered undiscovered,
Le Marche is becoming more and more
attractive to people who wish to live or
holiday in the region’s stunning scenery.
The region provides many natural
attractions, like the remarkable
underground caves at Frasassi, as well as
offering a plethora of leisure activities –
from beach to skiing, history and culture
to hiking and cycling. Ready access is by
road via the Adriatic coast motorway, by
air from Ancona, Pescara and Rimini
airports, and by rail via the main rail hub
at San Benedetto del Tronto.
Marche was featured in the BBC’s
popular series Italy Unpacked (2015
Series 3:2 ‘To the centre of the earth’)
when historian Andrew Graham-Dixon
and chef Giorgio Locatellli explored the
culture and cuisine of the region.

INVESTMENT PROPOSITION
Purchase of the two historic,
inter-connected palaces,
Palazzo Sacconi
and
Palazzo Vescovile,
which are strategically
clustered at the top of the
medieval hillside town of
Montalto delle Marche,
to redevelop into residential
and/or commercial use, for
which outline planning has
been obtained.
THE TWO PALACES – I DUE PALAZZI
Montalto delle Marche, Italy

History
The two palaces, Palazzo Sacconi and Palazzo
Vescovile, form a spectacular heritage property
which dominates the medieval town of Montalto
delle Marche – the birthplace of Pope Sixtus V.
The Sacconi Counts settled in Montalto in the
late 1600s. They built Palazzo Vescovile around
1730 and it was the residence of Cardinal Carlo
Sacconi. Being wealthy agricultural landowners,
the family built a huge granary on four floors
(each with independent access). The project
was commissioned by the Count’s nephew,
Count Giuseppe Sacconi, the legendary
architect who designed the distinctive
monument to Vittorio Emanuele II in the centre
of Rome and, importantly, he was
Superintendent for Arts and Monuments for
Marche and Umbria 1891-1902. The granary,
Palazzo Sacconi, was completed in 1902.
PALAZZO SACCONI

PALAZZO SACCONI

History continued
Cardinal Carlo Sacconi wanted his residence,
Palazzo Vescovile, linked to the granary, the new
Palazzo Sacconi, and so a vaulted corridor was
created.
Since the mid 1900s, Palazzo Vescovile has been
owned by the Diocese of Montalto. It is
sometimes referred to as the Bishop’s Palace (BP).
link to
Palazzo Vescovile
Palazzo
Sacconi
PALAZZO VESCOVILE

PALAZZO SACCONI (PS) and PALAZZO VESCOVILE (BP) Plan

Development Options
There is outline consent to allow for a full range of development options including apartments,
hotel, retail, management centre, care home, offices – or a combination of uses.
The planning authority would entertain any proposition combining sensitive renovation with
effective occupancy and economic use.
Detailed plans are available for an optional proposition to combine the two palaces to create
26 apartments and a 25 guest-room hotel with shared leisure facilities. The assumptions and
costings which follow have been based on this development option.
The development proposition for ‘I Due Palazzi’ described here will continue to evolve as our British
architect and Italian technical team enhance the plan. Any data (measurements, figures, etc.) and
calculations are indicative – based on the current stage of the proposition and some assumptions. They
are intended for illustrative purposes only, given that a purchaser will have their own development
idea, business variables and assumptions to consider.

This optional study for the conversion of Palazzo Sacconi and Palazzo Vescovile in
Montalto delle Marche is based on the ideas provided by the managing team and
partially implemented in a preliminary architectural design. The aim of this study is to
explore the possibility of converting Palazzo Vescovile into a boutique hotel, preserving as
close as possible its historic features with minimal structural intervention. Fully respecting the
functional articulation of the existing complex structure, the proposed layout offers a high
standard of functional comfort. To compliment the spectrum of provided facilities
(reception, lobby, conference rooms, café and other service areas) a direct link to Palazzo
Sacconi’s ground floor spa facilities is secured via the existing passage across the
courtyard and an additional lift between the third and second floors of Palazzo Sacconi.
The main concept of this proposal regarding Palazzo Sacconi is the approach to
apartment design to ensure functionally - best use of the available spaces; proportion of
the functional zones - largely as open plan layout with special attention to optimising
daylight infusion; structurally - a statically reasonable construction and more
contemporary interior features.
Increasing the building surface area to 7,235 sq.m, this study aims to provide a refreshing
redevelopment project which is enhanced by re-connecting the two historic palaces to
create a combined architectural design – I DUE PALAZZI.
I DUE PALAZZI – optional development proposition

PALAZZO VESCOVILE proposition – ground floor
Link to
Palazzo Sacconi

PALAZZO VESCOVILE proposition – 1st floor

PALAZZO VESCOVILE proposition – 2nd floor

Hotel
Current plans are for 25 hotel rooms, in
Palazzo Vescovile.
The proposed development includes a
main entrance lobby and reception,
conference rooms, café as well as other
communal sitting rooms where guests may
relax and invite their friends to join them to
enjoy a morning coffee, afternoon tea, an
aperitif before dinner or simply to soak up
the atmosphere and views.
Access to leisure facilities, in Palazzo
Sacconi’s stunning vaulted ground floor, will
be provided through the existing passage
across the courtyard between the two
gardens. There will be lifts in both buildings.

PALAZZO SACCONI proposition – 1st and 2nd floors
Lower level
Upper level
Lower level
Upper level

PALAZZO SACCONI proposition – 3rd floor
Upper level
Lower level
Upper level

Apartments
Current plans are for 26 contemporary, stylish apartments, each having its own
uniqueness.
The apartments’ open plan layout offer contemporary interior features as well as
optimising daylight infusion.
The lower level flows from the main entrance past cloakroom, kitchen and dining area
then through to the lounge area which benefits from natural light from the historic
windows.
Palazzo Sacconi’s high ceilings allow for mezzanine levels to be included. Stairs from the
lower level lead to the upper level which provides one or two bedrooms and a
bathroom.

THE TWO PALACES – I DUE PALAZZI
A profitable investment
These indicative figures illustrate the project’s potential: costs and values are based on assumptions and may be negotiated.
Item Description Amount in €
Costs
Purchase of Palaces (incl. Expen.)
Current total 6,390 sq.m
2,318,000
Development - apartments, hotel 4,716,000
and spa
Post-dev total 7,235 sq.m
Marketing and selling 170,000
Total (B) 7,204,000
Value Sale of apartments and value of (A) 11,129,000
retained assets
Sale of apartments Apartments (26) 6,298,000
Retained asset Palazzo Sacconi Ground Floor 2,000,000
Retained asset Palazzo Vescovile Hotel (25 rooms) 2,831,000
11,129,000
Gross Profit Sale of apartments and value of (A-B) 3,925,000
retained assets
Less tax 775,000
Net Profit Sale of apartments and value of 3,150,000
retained assets
Net profit as a percentage on total costs 43.73%

COMPLETION OF
DEVELOPMENT
With their expertise, as well as local
knowledge and relationships, the project
management, technical team and the
building contractor, who have all been
involved in the project since inception, are
ready to work with the successful purchaser
or investor to see the project through to
completion.
Cocoon Sacconi Ltd
Fran Kruc, Chairman
(see my profile on Linkedin)
Drewe Lacey, CEO
(see my profile on Linkedin)
Dott. Mauro Michetti,
Project & Technical Team Manager,
Italy
in conjunction with
British architects
EM Corporation Ltd
Maria Batoeva, RIBA
Chartered Architect
(member EPF, President BPA)
Evgeny Batoeva
Head of Design

I DUE PALAZZI
Montalto delle Marche, Italy
INVESTMENT PROPOSITION
CONTACT
Fran Kruc
Chairman, Cocoon Sacconi Ltd
Mob: +44 7710 743276
Email: fk.cocoon@gmail.com

Discounted italian development opportunity with 44% ROI

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