Property Details

Corso Calatafimi, 378/380 – Palermo

  • 1280_01
  • 1280_02
  • 1280_03
  • P1050078 PA- Corso Calatafimi (Albergo delle Povere-Chiesa S.Maria della Purificazione)


Let 6.192.000€ - Negotiable
5715 Mq - Indicative gross area Print

Situated in a semi-central position with respect to the city’s historic centre. The zone features a regular road network and mixed-use constructions with buildings predominantly for residential use, with commercial use on the ground floors, offices on the mezzanine floors, garages or sports facilities on the basement floors and residential on the upper floors. Corso Calatafimi is one of the major thoroughfares of the city, providing a smooth connection to the rest of the city and joining the historic centre to the vast area of the Municipality of Monreale, situated in the south-west of the city of Palermo. In this area, we also find a number of barracks, a military hospital, various schools, monuments, palazzos and historic sites.

The property comprises an initial building consisting of a ground floor and mezzanine level, served by a stairwell, and a second building (portion of building, part of a condominium) on the basement level, separated from the first, for a total of 5,715 sqm (gross area);

The initial asking price of €7,160,000 has dropped to €6,192,000 and is negotiable.

Leasehold status:

– the buildings are fully let to Oviesse S.p.A. for a total annual rent of €300,225; contract expiry 31/07/2024;

Maintenance condition: fair;

Gross yield: €300,225;

Tax burdens on the property:

– Borne by the Pension Fund: “IMU” (imposta municipale unica – single municipal property tax);

– Borne by tenants: “TARI” (tassa rifiuti – waste disposal tax), “TOSAP” (tassa occupazione spazi ed aree pubbliche – tax on the occupation of public soil and areas);

Plant systems:

– Fire prevention system;

– Other systems: summer/winter air conditioning system (in the first building);

Insurance coverage: Third-Party Liability and All-Risks;

The buildings were constructed at the end of the 1970s; they have a reinforced concrete, framed load-bearing structure and floor slabs in mixed reinforced concrete and brick. The roof of the first building is both flat and barrel-vaulted;

A.C.E. (energy certificate): 01/02/2012 drawn up by Architect  Alessandra Alagna;

Connection to the major roadways:

the area is well served by services and public transport;

– Railway: 20 minutes by car from the Central Station;

– Port: 25 minutes by car from the Marine Station, port for shipping lines for Genoa/Naples and other domestic destinations, as well as for the smaller islands. The port of Palermo is also a stop for major cruise liners;

– Airport: 30 minutes by car from “Falcone e Borsellino” Airport; the airport is also served by frequent rail links (from Palermo Centrale and Palermo Notarbartolo) and bus lines;

– Motorways: 5 minutes away (Palermo-Catania, Palermo-Messina and Palermo-Trapani/Mazara del Vallo);

– Underground: 10 minutes by car from the Orleans Station.

Annual rent: 300.225€

Annual ISTAT increase: 75%