Yours for $28 million: venice lagoon island complete with ruined convent

Santo Spirito, an island in Venice’s lagoon with a derelict convent, has been put up for sale by Italian real-estate investors for more than 20 million euros ($28 million).

Holding company Poveglia Ltd. hired Colliers International to sell the 6.2-acre (2.5-hectare) island, which is a 10-minute boat ride from St. Mark’s Square, the broker said in an e-mailed statement.

As well as the 3,500 square-meter (38,000 square-foot) ruined convent, founded in the 12th century, the property has planning consent for 4,500 square meters of new construction. Colliers said Santo Spirito is the last complete island available for sale in the lagoon.

“Investors have the unique chance to customize an island to their needs,” said Massimo Saporito, head of investment in Italy for Colliers. The site would best suit a luxury residential development or a hotel, he said.

Source: Bloomberg.com