PPP Business Plan 09 03

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appraisal 10 – A SEARCH FOR THE EVALUATION PARAMETERS FOR DIRECT PROCEDURE As Prof. Famularo stated as early as in 1942, as to the general principles of estimation: “from the logical point of view there is only one method to estimate the value of all goods, and that is the recognition that the given goods belong to a class of similar goods of a known price, based on a parameter which is common to all those goods” (Famularo, “Ancora sul concetto di dipendenza del valore dallo scopo della stima” / “Still on the concept of dependence of the value on the purpose of the estimation”, in Riv. Cadastre and SS.TT. EE., n. 2, 1942). These claims were, in principle, reformulated and shared by Prof. Marcello Orefice, who wrote: “Therefore, any estimative operation consists of the synthetic comparison between the goods being assessed and one or more groups of functionally similar goods, for which we have historical data about the prices that have already been applied in exchange operations.” (Orefice, Estimo / Appraisal, Utet, 1984). The retrieval of objective historical data to use for a comparison, can sometimes be tricky due to the constant habit of the persons involved in economics to reduce (often for taxation purposes) the actually agreed upon prices, although this phenomenon is declining as a result of the 2006 Budget (Act 266 of December 23, 2005, Art. 1, par. 497) that introduced the requirement of the declaration of the ‘real’ value of the transaction, supported with the documentary evidence and verifying means of payment. In the estimative practice though, a search for sales offers in the so called ‘homogeneous area’,considering the units with the same featuresand uses,still remains a good reference point; which, in case of scarcity of data, may also extend to similar areas; so that one may actually ‘assimilate’ the examined reality into the potential ‘price’ to offer in the course of free bargaining. As is known, the offer does not always match the demand in the market and, in any case, the “time” factor is inversely proportional to the entity of the offer. In fact, the more time passes by after some goods are launched onto the market, the more the financial claims of the tendering party decrease. In our case, since the area is of absolute value, the time factor has a very limited impact on the offer, given that prestigious economic goods remain unaffected by the usual market crises and, in contrast, experience even greater demand in periods like the present one, in which investors are looking for solid bases precisely in the property sector. For these reasons, in order to identify the parameter of estimation, we will refer to properties placed on the market in the area (or the wider area) for the same features and purposes of use, by applying - whenever applicable - “correction coefficients”, by reason of possible major and minor advantages of the goods we are comparing with the one being assessed.oweer considering the prudential and conseratie criteria that the property suggests such coefficients were not adopted. -91 -
appraisal In the course of our research we identified the following properties offered for sale: 1. Villino Giulia Villa at Piazza di Spagna Advertised by Christies Real Estate Surface: Interior: Garden: Cellar: Asking Price: Price/m2: Price/sq ft: 7.911 sq ft/735 m2 3.444 sq ft/320 m2 1.937 sq ft/180 m2 25.000.000 Euro 20.226 Euro/m2 1.881 Euro/sq ft 2. Luxury Penthouse in the Heart of Rome Penthouse over Piazza Venezia Advertised by Christies Real Estate Surface: Asking Price: Price/m2: Price/sq ft: 5.220 sq ft/485 m2 15.000.000 Euro 30.927 Euro/m2 2.873 Euro/sq ft 3. Apartment in Via dei Condotti Advertised by Christies Real Estate Surface: Asking Price: Price/m2: Price/sq ft: 3659 sq ft/340 m2 7.000.000 Euro 20.588 Euro/m2 1.913 Euro/sq ft 4. Apartment in Ludovisi Advertised by Sotheby’s International Realty Surface interior: Terraces (100% of the value) Asking Price: Price/m2: Price/sq ft: 5.489 sq ft/510 m2 2.325 sq ft /216 m2 20.000.000 Euro 27.548 Euro/m2 2.559 Euro/sq ft -92 -
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Three P privilege privacy prestige
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Three P privilege privacy prestige
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introduction We would like to take
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overview Virtues Of Rome - 10 -
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overview Visitors Of Rome - 12 -
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overview The Asset - 14 -
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overview Rome The building within w
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III Business Concept
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usiness concept business concept Th
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overview the utmost important facto
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- 25 - business concept
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usiness concept Oversight on behalf
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usiness model The Target - 30 -
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usiness model Target market Identif
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V Marketing Plan
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marketing plan Competition Features
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marketing plan Customer Satisfactio
Page 42 and 43: marketing plan It’s worthwhile to
Page 44: marketing plan Club & Membership P
Page 48 and 49: Value Of The Company
Page 50 and 51: value of the company The services a
Page 52 and 53: value of the company In recent year
Page 54 and 55: - 53 - value of the company
Page 56 and 57: value of the company In light of th
Page 58: value of the company Services Inclu
Page 61 and 62: appraisal -60 -
Page 63 and 64: appraisal 1 - Introduction First of
Page 65 and 66: appraisal Historical-critical repor
Page 67 and 68: appraisal Fig. 3 - The Albertoni co
Page 69 and 70: appraisal In the Palace there is st
Page 71 and 72: appraisal REFERENCES: AMAYDEN T., 1
Page 73 and 74: appraisal Before and after the work
Page 75 and 76: appraisal Left: a view from Piazza
Page 77 and 78: appraisal Left: main staircase, a d
Page 79 and 80: appraisal 3-GENERAL OVERVIEW OF THE
Page 81 and 82: appraisal 5-DESCRIPTION OF EACH REA
Page 83 and 84: appraisal SUB #4(today LARGE APARTM
Page 85 and 86: appraisal SUB #7(today OFFICE)’
Page 87 and 88: appraisal SUB # 13 (today STORAGE)
Page 89 and 90: appraisal COMMON AREAS Common areas
Page 91: appraisal However, the real archite
Page 95 and 96: appraisal Price requests (1) for va
Page 97 and 98: appraisal It should be clarified th
Page 99 and 100: appraisal 13 - SEARCHING FOR THE VA
Page 101 and 102: appraisal Appraiser Mr. Ivan Mammuc
Page 103 and 104: appraisal • Assignment Eng. Rober
Page 105 and 106: appraisal • Assignment to the fir
Page 108 and 109: Refurbishment Project
Page 110 and 111: efurbishment project The architects
Page 112 and 113: efurbishment project Rennovation Wo
Page 114 and 115: efurbishment project Art. 4 Descrip
Page 116 and 117: efurbishment project Art. 7 Descrip
Page 118 and 119: efurbishment project Art. 11 Descri
Page 120 and 121: efurbishment project Garden Suite R
Page 122 and 123: efurbishment project Garden Suite -
Page 124 and 125: efurbishment project Ambassador Sui
Page 130 and 131: efurbishment project Executive Suit
Page 132 and 133: efurbishment project Executive Suit
Page 134 and 135: efurbishment project Kitchens Descr
Page 136 and 137: efurbishment project Rooms Descript
Page 138 and 139: efurbishment project Wellness and S
Page 140 and 141: efurbishment project Tv’s Rooms D
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efurbishment project Landscape Desi
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tropp refurbishment project Landsca
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value of the company VII The Team -
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the team The overall development of
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who’s’ who
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the team Auditor Mr. Simone D’Amb
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PPP Business Plan 09 03

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