Legals - Appraisal

palazzettoalbertonispinola

Appraisal &

Redevelopment plan


- 122 - - 123 -


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TABLE OF CONTENTS

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– INTRODUCTION

– OBSERVATIONS ON THE BUILDING IN GENERAL AND ON THE

RESTORATION WORKS

– OVERVIEW OF THE REAL ESTATE PROPERTIES SUBJECT OF EVALUATION

– MARGINAL NOTES ON THE CRITERIA OF DESCRIPTION AND

MEASUREMENT

– DESCRIPTION OF EACH REAL ESTATE PROPERTY

– DESCRIPTION OF THE INTERVENTION OF REDEVELOPMENT

– ADDITIONAL REMARKS ON THE LOCATION OF THE REAL ESTATE

PROPERTY

– SUMMARY OF SURFACES

– SEARCHING FOR THE EVALUATION CRITERIA

– SEARCHING FOR THE EVALUATION PARAMETERS FOR DIRECT

PROCEDURE

– VERIFICATION OF THE NOMISMA OBSERVATORY ON ‘’EXCLUSIVE

RESIDENCES IN ROME’’

– SEARCHING FOR THE MARKET VALUE:FEATURES IN COMMON

– SEARCHING FOR THE MARKET VALUE:EXTRAORDINARY FEATURES OF

THE PROPERTY

– THE AVERAGE OF VALUES

– LIST OF ANNEXES


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1 – Introduction

First of all It is necessary to clarify that considering the historical significance, the absolute uniqueness and

the value of the property, any economic assessment is considered very difficult to reach, also due to the

absence of benchmarks with the features of these kind of ''trophy'' building projected and built by two of

the most important architects of the italian Reinassance:Giacomo Della Porta (https://

en.wikipedia.org/wiki/Giacomo_della_Porta) and Girolamo Rainaldi (https://en.wikipedia.org/wiki/

Girolamo_Rainaldi ).

The task entrusted to us is to complete the rough estimation of the property, considering an overall

intervention of functional redevelopment with the ‘turn-key’ formula.

This preliminary technical assessment is the culmination of a series of investigations, analyses and processing

the collected data. These enabled us to conclude findings and results of value hereby referred to,

at the issue date of this document.

The preliminary technical assessment was conducted on the basis of the available documentation and

information received from the client, which we considered to be true.

In some cases, it was necessary to find some information or documents otherwise not being available. In

particular, the land registry records and the hypocadestral records of the complex were traced through a

computer search, and preliminary investigations were carried out in order to identify the types of intervention

that are compatible with the governing town-planning regulations.

Therefore, in this document we have also indicated - in relation to the main topics discussed - the source

documents that have led to the conclusions presented here.

The state of affairs of the property is represented by the processed planimetric data that were available to

us from information we received and from what was established during the site visit.

The owners’ intention is to carry out a redevelopment, aimed at establishing three interdependent, yet at

the same time autonomous, luxury suites, each equipped with fitness, wellness, and relaxation areas. The

three residences will be equipped with shared security services, an office and a movie-theatre for private

screenings.

The decision to carry out this redevelopment – a rather simple one, for that matter, given the current

structure of the property – was made with the aim of alienating the property, taking exclusively the foreign

demand into consideration, from the ultra-high-net-worth (uhnw) segment.

As shown by the most renowned research of the sector conducted by credit suisse (https://www.Worldwealthreport.Com),

over the last five years there has been a steady increase in this segment, putting the

increase between 2000 and 2014 at no less than +300 percent.

Obviously, one may not get the meaning of the above statements without considering the unique features

of the property, its prestigious location in the very center of the capital of italy, and especially rome itself

– being the foremost city in the world as to the presence of monumental and historical-artistic treasures,

and global center of Christianity due to the presence of the Vatican City and the Apostolic See of the Pope.

In addition, there is the ‘network’ represented by the main characters of international show-business as well

as of public or private institutions, regularly visiting this city to enjoy its features as described above. Their

presence offers a live and global advertisement of such features, and it keeps spreading - within the UHNW

segments - a potential desire to possess a jewel of this kind.

In this regard, it is also necessary to remark on some important investments that in 2014-2015-2016

(ANN.14 press review) took place in Rome by Mid-Eastern and USA-based hotel chains, as well as on the

North American commitment towards the most important soccer club in Rome (A.S. Roma). Lastly, the

ever growing appeal for products ‘made in Italy’ and the Italian way of life in the ‘luxury brand’ and ‘luxury

food’ segments also played a role in strengthening this determination of the owners. In fact, this appeal

confirms that those who can afford to appreciate the use and consumption of Italian products and services

incurring high-end costs, want to experience these sensations themselves.

A proof of the above said, as well as a further confirmation of the ‘appeal’ experienced by buyers is the

comparison between the amounts of property taxes collected by the Italian tax authorities and those collected

by Anglo-Saxon countries, and in particular in the United States of America, where tax revenues on

properties of such value are at least 10 - or even 20 - times higher.


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PALAZZO ALBERTONI SPINOLA - PIAZZA CAMPITELLI, 2 - ROME

HISTORICAL NOTES AND DECLARATION OF INTEREST BY ITALIAN GOVERNMENT

A detail of the cross vault of the first mezzanine: the lion passant over the niche, the Albertoni coat-of-arms.

Prepared by:

Architect Alex Rossman

Architect Vincenzo Berardi


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Historical-critical report

The Albertoni Spinola Palace, with an entrances in Campitelli square n. 2, Capizucchi square,and

vicolo Capizucchi,is located in the 10th District (Rione Campitelli).

The building is protected by Italian Government.

Fig. 1 – Front of the Paluzzi Albertoni Palace from an engraving by Giovan Battista Falda (ca. 1675)

(Spinola 1995, tav. I)

The work was commissioned by Marquis Baldassarre Paluzzi Albertoni initially to Giacomo della Porta

(1532-1602), then continued and completed by Girolamo Rainaldi (1570-1655), in an area likely to be

rebuilt between the buildings De Rossi (later Cavalletti) and Capizucchi.

Della Porta's work concerned the construction of the bearing structures and the internal partitions of the

large building(generating the singular orthogonalityof the entrance gallery) in the late 1500s until its

sudden death in 1602. Subsequently, the project, completed by Rainaldi(who collaborated with Della

Porta since 1592), with the building facade (from 1603) and with the constructionof the overpass that

completed the integration between the two bodies of the building (1616), had the effect of generating the

following particularities:

A) having made possible the integration of the two bodies of the Palace allowing the Palazzetto(the

smaller unit) to extend into the new building without the person experiencing them finding themselved in

one or other unit;

B) to have maintained and to have generated a direct perspective from the Palazzetto gate on the

entrance of today's Santa Maria in Campitelli (site where there was the ancient birthplace of Blessed

Ludovica Albertoni). In fact, as mentioned, the entrance gallery of the building presents an orthogonal

trend in the colleagu between the square and the inner courtyard and determines a visual effect by

which moving backwards from the main entrance door of the Palace on Piazza Campitelli, the front

entrance of the Church begins to "move" from left to right until it coincides perfectly only when you reach

the threshold of the Palazzetto gate;

C) having made possible the use of the ''secret'' hanging garden of the Palazzetto with the first floor of

the Palazzo Grande, making this unit absolutely unique in its kind;


Fig. 2 Piazza Campitelli in an engraving by Giovan Battista Falda (1665)

In fact, in 1603 Knight Baldassarre Paluzzi Albertoni requested a permit to build the new facade, widening

the area of the existing property towards the square and aligning the new wall with the corner of the adjacent

Capizucchi palace. In 1616 he required an additional permit to construct, over the back door of his

palace and over the alley, an archway to allow passage to his “nearest neighbors” who were carrying out

further restructuring at that time (this is the archway built in the back, in the outside of the building, at the

height of the first floor).

So it is possible that the two buildings belonged to the same owner from the beginning, and then passed

from one family to another. Moreover, it is plausible that the facade was created at another time – on an

already existing renovated building – as witnessed by cartographers of the era: Cartaro, Du Peràc, and

Tempesta, whose maps indicate already existing houses in that area.

In addition, what also possibly indicates these two phases is the different alignment of the interior: it is orthogonal

to the courtyard and to the sides of the adjacent palaces, but it is off-axis with respect to the front

of the square. In fact, the entrance gallery of the building forms a diagonal connection between the square

and the inner courtyard.

The presence of the Albertoni family is recorded in Campitelli square: the family’s coat-of-arms, the lion

passant (Fig. 3) is to be found on the old fountain (1587-89) as well as in the palace, above the entrance,

over the lintels and niches along the stairs and in the frieze below the cornice of the main facade where we

see lions passant with roe deer.

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Fig. 3 – The Albertoni coat-of-arms

(Rendina 1993, p. 244)

Some of the minor palaces of the Paluzzi Albertoni family in Margana square, as well as under n. 36 of Via

de’ Delfini, were connected to the larger palace, both structurally and functionally.

The heirs of the Paluzzi Albertoni family adopted on October 21, 1671 the surname and the arms of the

Altieris together with the title of Princes by desire of Emilio Altieri (1590-1676) elevated to the Papacy in

1670 under the name of Clement X. Thus all the riches of the Altieris passed on to the descendants of the

Paluzzi Albertoni family renamed as Altieri. In fact, the Palace of Piazza Campitelli turned out to be a less

prestigious residence than the palace built by the Altieri al Gesù family which, together with the villa at the

Lateran, was to host the works of art of the family.

The Palace in Piazza Campitelli, remaining at the hands of the renewed offspring of the Altieris for more

than a century (Fig. 4), was elevated with a fourth floor on top of the attic, and was sold in 1808 approximately

by Prince Paluzzo Altieri to a famous Spanish General, Manuel Godoy y Alvares de Faria Ríos

Sánchez Zarzosa, Prince of Paz de Basano (1767-1851). Somewhat later, the building was handed over to

Cardinal Bartolomeo Pacca (1756-1844) who lived there from time to time at least from 1819. Upon Pacca’s

death, the palace of Piazza Campitelli belonged to his grandchildren for about fifty years, who rented

parts of it out to their acquaintances, including Cardinals Giacomo Piccolomini and Giacomo Antonelli.


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Fig. 4 – Piazza Campitelli on a map from 1731 (ASR, Maps and Drawings, 80, n. 239)

(Spinola 1995, tav. III, Fig. 4)

Subsequently, in 1886 the building was sold by the descendants of Pacca to Countess Carolina Portalupi

(1852-1891), who restored it, leaving it to her direct descendants, the Genoese Marquis Spinola [Maria

Antonietta Spinola was later to marry the well-known politician Mario Cingolani (1883- 1971), while Bonifacio

Spinola married his second cousin, Countess Marina Baldeschi (1895-1983)]. The restoration of the

Palace could not be postponed further since the complex was in a poor state of repair as a result of years

of neglect: the works concerned mainly parts of the courtyard, the stairs, and the interiors. Walls were

consolidated; arches, vaulted ceilings, and floors were reinforced or rebuilt; the eaves, roofs and terraces

were repaired; the stairs and the floors of the landings of the main staircase were completely renewed;

and many ceilings were renovated – especially the decorated ones – as were the upholstery of the interior

walls, with doors and windows. There are also some interventions documented in relation to a more proper

distribution of water and the renovation of the bathrooms. This period also witnessed the construction of

the new glass-covered gallery on the south-east, and probably the cant of the third floor towards Palazzo

Cavalletti. The work was substantial, but left the structure of the building unchanged.


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In the Palace there is still a small collection of six portrayed heads – one in the entrance hall past the courtyard

and the other five over the stairs – which were part of the collection of the Albertoni Paluzzi family,

collectors of ancient artwork. The Paluzzi Albertoni collection was merged in the 1600’s with the remarkable

Altieri collection, enriching the family mansion and other properties including villas on the Esquilino

and at Porta Salaria. The busts to be found today in the Albertoni Spinola palace are “two ancient marble

heads – one of a young woman and one of Antinous – mended in part; another ancient marble head – a

priest of Isis – reworked in the Renaissance era as a portrait of Publius Cornelius Scipio Africanus; two

marble portraits reconstructed during the Renaissance era – one of Julius Caesar and another probably of

Hesiod or Zeno of Elea –; and a plaster cast of the head of Julius Caesar (probably of the Pacca and not

of the Paluzzi family) taken from the statue preserved in the Senatorial Palace on the Capitoline Hill” (G.

SPINOLA 1995, p. 15) (Fig. 5, 6, 7).

Fig. 5 – Renaissance bust of Greek (Palazzo Albertoni Spinola): front view and profile

(Spinola 1995 TAV. V)

Renaissance bust of either Greek poet Hesiod or philosopher Zeno of Elea.


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Fig. 6 – Head of Antinous (Palazzo Albertoni Spinola): front view and profile

(Spinola 1995 tav. IX)

Fig. 7 – Head of a priest of Isis reworked as “Publius Scipio Africanus”

(Palazzo Albertoni Spinola): front view and profile (Spinola 1995 tav. VII)


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REFERENCES:

AMAYDEN T., 1910, Storia delle famiglie romane (History of Roman Families), Rome.

BENEDETTI S., 1995, Il ghetto di Roma. Progetto di recupero urbano e edilizio

(The Ghetto of Rome. A Project of Urban Renewal and Housing), Rome.

BENEDETTI S., 1992, I palazzi romani di Giacomo della Porta, in Roma e lo studium urbis.

Spazio urbano e cultura dal quattro al seicento (The Roman Palaces of Giacomo Della Porta in Rome

and the Studium Urbis. Urban Space and Culture From the Fourteenth to the Sixteenth Centuries),

Rome.

CARPANETO G., 2004, I palazzi di Roma (The Palaces of Rome), Rome, pp. 23-24.

HIBBARD H., 1967, Di alcune licenze rilasciate dai mastri di strade per opere di edificazione a Roma

(About Some Licenses Issued by Road Masters for Construction Works in Rome), 1586-’89, 1602-’34, in

Bollettino d’arte, LII, p. 109.

FASOLO F., s.d., L’opera di Hieronimo e Carlo Rainaldi (The Work of Hieronimo and Carlo Rainaldi), Rome.

FINELLI L., INSOLERA I, MARCIANO’ A.F., 1986, Il ghetto (The Ghetto), Rome.

GAVALLOTTI CAVALLERO D., 1989, I palazzi di Roma dal XIV al XX secolo (The Palaces of Rome From

the Fourteenth to the Twentieth Century), Rome.

PIETRANGELI C., 1992, Guide Rionali di Roma. Rione X Campitelli (District Guides of Rome. The Campitelli

10th District), I, Rome.

RENDINA C., 1993, I Palazzi di Roma (The Palaces of Rome), Rome, pp. 244-45.

SPINOLA G., 1995, Le sculture nel palazzo Albertoni Spinola a Roma e le collezioni Palazzi ed Altieri (The

Sculptures in the Albertoni Spinola Palace in Rome and the Palazzi and Altieri Collections), Rome.(Annex

n.2).

TIBERIA V., 1974, Giacomo della Porta, Rome.

TORSELLI G., 1965, Palazzi di Roma (Palaces of Rome), Milan.

ZANDER G., 1990, L’arte di Roma nel secolo XVI (The Art of Rome in the Sixteenth Century), Bologna.


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Recent restoration work

In 2006 we assessed the state of deterioration of the building caused by a prolonged lack of maintenance

over the years and - while after the project preparation, some conservative restoration work was carried

out. These mainly concerned:

– Controlling the disposal of rainwater by replacing eaves gutters and drainpipes;

– Controlling the maintenance conditions of the roof, replacing broken tiles and supplying the missing ones;

– Structural fortification of balconies and galleries;

– Verifying the stability of the decorative elements of the cornice and replacement of the protecting slate

elements in the upper part of the facade;

– Centralization of the water, gas, and electricity systems with the removal of pipelines and appliances in

disuse;

– Updating of the electrical system of the condominium according to current standards;

– Removal of the asphalt paving of the courtyard of the hallway and recovery of the cobblestone pavement

below;

– Conservative restoration of internal facades paying attention also to the Western facade;

– Cleaning the travertine door-posts of the entrance;

– Conservative restoration of the exterior facade;

– Restoration of the main staircase with the upgrading of the related facilities.

(Technical report entitled Situazione di rischio e priorità emerse dalle analisi effettuate. Proposta di massima

degli interventi di restauro conservativo / Risk and Priorities Assessment resulting from the analyses.

Tentative proposal for a conservative restoration, Engineer G. Carluccio, Architect A. Cerroti, Architect C.

Tantillo, May 2006.Annex 1)


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Before and after the works: comparing photos of the state of the building

General view of the facade as seen from Piazza Campitelli before the works

(photo: Cerroti, May 2006)

Detail of the facade as seen from Piazza Campitelli after completing the restoration works

(June 2012)


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General view of the courtyard before the completing the restoration works

(photo Cerroti May 2006)

Partial view from the courtyard after the works (June 2012)


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Left: a view from Piazza Capizucchi before the works (photo: Cerroti, May 2006).

Right: a view from Piazza Capizucchi after the works (June 2012).


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A view from Piazza Capizucchi, a detail of the facade before the works (photo: Cerroti, May 2006)

A view from Piazza Capizucchi, a detail of the facade after the works (June 2012)

A view from Piazza Capizucchi, a detail of the facade before the works (photo: Cerroti, May 2006)

A view from Piazza Capizucchi, a detail of the facade after the works (June 2012)


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Left: main staircase, a detail before the works (photo: Cerroti, May 2006)

Right: main staircase, a detail after the works (June 2012)

Left: main staircase, a detail before the works (photo: Cerroti, May 2006)

Right: main staircase, a detail after the works (June 2012)


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Gallery entrance to the courtyard, the left wall before the works

(photo: Cerroti, May 2006)

Gallery entrance to the courtyard, the left wall after the works (June 2012)


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3-GENERAL OVERVIEW OF THE UNITS OF REAL ESTATE PROPERTY, SUBJECT TO AS-

SESSMENT

In addiction to the point 2 firstly, one needs to set forth an overall description of the individual units

of real estate property in order to understand the interdependence - and at the same time the autonomy

- between them.

The three residential units occupy the entire ‘Palazzetto’ as well as the entire second mezzanine

floor of the great ‘Palazzo.’

They are connected but still independent, and they may be accessed either through the main monumental

staircase or through other independent entrances from Capizucchi alley, from Capizucchi

square, or from the entrance hall of the Palace through the spiral staircase that starts right in entrance

hall and leads up to the rooftop of the Palace.

This staircase separates two of the three above mentioned apartments, having direct access to it.

The ground floors of the building with an entry point on the left after the main entrance - and thus

accessible from the entrance hall - could also be reached from the same spiral staircase mentioned

above, if they were given access by simply opening the pre-existing door.

The rooms on the ground floor of the ‘Palazzetto’ are also contiguous with the apartment on the

ground floor which has a garden, and therefore this apartment could also be accessed by simply

opening the pre-existing door.

This way one could see a real estate property that is absolutely unique in its kind: not only with of

garden in the center of Rome, but also with a rooftop and adjoining attic rooms with view on the

city of Rome.

The owner - thanks to the options determined by the multiplicity of access points - can decide

which adaptations and uses are more suited to his needs at any time: whether to establish connections

within the whole property or to keep it divided.

In fact, the urban and land registry status would allow for the identification of thirteen totally autonomous

real estate units.

The whole ‘Albertoni Spinola’ Palace - with all internal and external decorations - represents historic

and artistic value attested by a decree of the Ministry of Culture and the consequent tax

benefits(Annex n. 3).

The project and the built were made from two of the most important architects of the italian

Reinassance:

Giacomo Della Porta (https://en.wikipedia.org/wiki/Giacomo_della_Porta)

and

Girolamo Rainaldi (https://en.wikipedia.org/wiki/Girolamo_Rainaldi ).


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4-MARGINAL NOTES

a) The following criteria were applied for the measurement of the areas of the property:

UNI 10750 standard on Real Estate Services. Requirements of Service.

4.4 Criteria for property appraisal

The UNI 10750 standard contains the following criteria for calculating “the surface of commercial

areas”. For further information we suggest considering to purchase the documentation of UNI

standards.

Calculating the surface of the commercial area, depending on whether the real estate it is intended

for residential use or for commercial use (offices, industrial or touristic use) the following should

be considered:

– the sum of passable covered areas including the surfaces occupied by interior and perimeter

walls;

– the weighted averages on surfaces for the exclusive use of terraces, balconies, patios and

gardens;

– the weighted surfaces of appliances (basements, indoor and outdoor car parking areas, boxes,

etc.).

The calculation of the covered surfaces must be based on the following criteria:

a) 100% of the passable surfaces;

b) 100% of the areas within internal non-bearing walls providing separation;

c) 50% of the areas within internal bearing walls and perimeter walls.

In the case of detached and / or single-family buildings, the percentage of point c) should be considered

as 100%. The calculation of the areas referred to in point c) shall not, however, exceed

10% of the sum referred to in points a) and b).

For the calculation of uncovered surfaces, the following weighting criteria are to be used:

25% of uncovered balconies and terraces;

35% of covered balconies and terraces (by covered we mean closed on three sides);

35% of patios and porches;

60% of verandas;

15% of apartment gardens;

10% of villa and cottage gardens.

The indicated percentages may vary according to the particular location of the real estate property,

and to its external surfaces which may be roughly at the same level as the overall external

sur-faces, and which may never exceed 30% of the covered surfaces - except for all those

incremental or decreasing factors that characterize their particular level of environmental quality.

Obviously, the property subject to estimation belongs to the category that would determine a

strong variation of the aforesaid percentage quotas. However,being about a ''trophy asset/

home/property'', the prudential and conservative criteria suggested by the property to the

professional in charge have not allowed for timely adoption.


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5-DESCRIPTION OF EACH REAL ESTATE PROPERTY NUMBERED CONVENTIONALLY IN

THE FOLLOWING SECTION OF THE REPORT AS CADASTRAL SUBORDINATES (hereinafter

referred to as ‘SUB’) #1–13 IN ACCORDANCE WITH THE FLOOR PLANS AVAILABLE AT THE

LAND REGISTRY (ANNEX 4 )

PLEASE NOTE THAT THE PROPERTIES HAVE N.4 CAR PARKING AREAS AT THE ENTRANCE

HALL OF THE PALACE

SUB #1 (today GARDEN APARTMENT)’’FOGLIO 492 PART.25-29-29’’

An apartment on the first floor of the ‘Palazzetto’ with entrances on the first floor of the monumental

scale of the ‘Palazzo’ and a separate entrance from Capizucchi alley.

The apartment extends over three floors connected by a circular staircase located between the

dining room and a bedroom on the first floor.

The first floor consists of an entrance hall, three living rooms, a dining room, three bedrooms,

three bathrooms and a hallway.

The garden is accessed from the living room with a central fireplace, which is covered – on its

outer part – by pinewood.

The garden is rectangular in shape and extends over a total of 177.65 m2.

Downstairs there are the premises for the kitchen, a working room, a utility bedroom, a pantry and

a closet. Finally, there is a cellar on the ground floor with the boiler room, a small bathroom and

another utility room. In total, there are 351.77 m2 of covered commercial areas of which 234.34 is

on the first floor, while 44.19 and 73.22 is on the middle floor and on the ground floor, respectively.

The ceilings of the entrance are made of walnut wood, painted in light green and cream colors.

The ceiling of the passage room between the ‘Palazzo’ and the ‘Palazzetto’ is decorated with

simple relief patterns. The ceilings of the living rooms and the large bedroom with windows overlooking

Capizucchi square are made of walnut and maple with cornices adorned with embossed

inlay imitations of roses and golden coats-of-arms.

The hallway, on the other hand, has a false ceiling, which hides a decoration similar to the one

present in the passage room, referred to above.

The floors of all rooms - except for the bathrooms on the first floor - are made of wide planks of

light wood parquet.

All doors of the rooms are made of light wood - dating back to the late 1800’s - featuring nine

original doors.

The condition of the small bathroom of the third bedroom does not adequately reflect the recent

renovations.

All windows have inner sash windows with glass panels.


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The apartment is heated with a gas boiler, with radiators installed in the 90’s.

It is to be highlighted that a staircase leads from the second bedroom to the apartment of the

‘Palazzetto’ above, its features we will describe later (SUB #4).

Major renovations were carried out in this real estate in the years 1961–1963, and most recently

in 2010.

The two main bathrooms were restructured while the ceiling of the passage room as well as the

decorations of the fireplace were restored.

The garden has undergone a complete redevelopment process too.

The electrical and plumbing systems have been brought into compliance with governing control

measures.

SUB #2(today OFFICE)’’FOGLIO 492 PART.25 , S. 503’’

Premises on the ground floor of the ‘Palazzetto’ with entrance from Capizucchi alley n. 12.

This apartment is currently intended for office use, and it extends over a commercial area of 43.71

m2.

It includes a bathroom, it has travertine floor, and has recently undergone some restructuring.

The ceiling is 5.2 m high.

This apartment is adjacent to the premises of the ground floor, the apartment with the garden, as

well as SUB #3 that is described as follows.

SUB #3(today WHAREHOUSE)’’FOGLIO 492, PART.25,S.3 (SCHEDA N.8872520)’’

Premises on the ground floor of the ‘Palazzetto’ with entrance from Capizucchi alley n. 13.

This apartment is currently used as storage space, and it has been recently renovated. It has

travertine floor.

This apartment extends over a commercial area of 42.3 m2, and is contiguous to the premises

already described as SUB #2.


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SUB #4(today LARGE APARTMENT AT SECOND FLOOR)’’FOGLIO 492, PART. 25 , S. 502’’

An apartment on the second floor of the ‘Palazzetto’ and the first mezzanine floor of the Palazzo,

with access from the monumental staircase and the spiral staircase that starts in the entrance hall

of the ‘Palazzo’.

The property extends over a commercial area of 325.75 m2 and 70 m2 of terraces: the terrace

above the master bedroom covers 41.9 m2, while the other one over the property referred to as

SUB #1, covers 28.05 m2.

This apartment is divided into three parts: the first one was originally intended as an entry hall, the

second one as a bedroom, and the third one as a kitchen, a dining area and as the premises for

servants, which is accessed through a gallery.

The apartment is accessed through a door in the middle of the fifth flight of the monumental staircase

and consists of an entrance hall, a lounge, a dining room and a study, completed by a bathroom

and another smaller toilet.

From the entrance, three steps to the left lead to the sleeping area preceded by a hallway that

connects the ‘Palazzo’ with the ‘Palazzetto’. This hallway has windows overlooking both Capizucchi

square and Delfini street.

The sleeping area is thus composed of the master bedroom, two other bedrooms and another

bathroom.

A wooden staircase leads from the master bedroom to the terrace overlooking the urban area of

the building, with the Altar of the Fatherland and the Capitol. From the bedrooms in this area one

has access to a terrace which corresponds to the ceiling of the apartment presented in SUB #1.

One gains access, to the right of the above mentioned main entrance, through another hallway, to

a bright gallery with iron cover and opaque glass which leads to the service area.

This area consists of a dining-ironing area, a large kitchen, and a room for servants with its own

bathroom.

From the dining room - through a door - one has access to the spiral staircase that starts in the

entrance hall of the ‘Palazzo’, and leads to the terrace with the adjoining attic which we will describe

as SUB #6.

The ceilings of the representative rooms are coffered in a simple manner, without the usual painted

decorations with light green and cream colors.

The floors are made of nailed oak parquet laid in a herringbone pattern.

The coffered doors are painted with the same light green and cream colors. They go back to the

restructuring in the late 1800’s, and are typical of the era.

The electrical and plumbing systems were fully implemented during the latest restoration, in

2002–2004.

The three main bathrooms are covered in travertine whereas earthenware floor tiles were laid in

both the bathroom for the servants and the small toilet with a sink feature majolica tiles.

The gallery has an antique red brick floor while the dining room, the kitchen, and the room for the

servants have recently laid ceramic floor tiles.

As already indicated in this description, the total renovation of the property took place in 2002–

2004, and was supervised by the architect Berardi.

It is worth noting that one can not access real estate SUB #1 from this area because the bathroom

of the master bedroom gets in the way.


appraisal

SUB #5(today SMALL APARTMENT AT SECOND FLOOR)’’FOGLIO 492, PART.29, S. 513’’

An apartment on the mezzanine floor of the ‘Palazzo’ with an entrance from the second floor of

the monumental staircase and from the spiral staircase that starts in the ‘Palazzo’s’ entrance hall.

The property extends over a commercial area of 159.79 m2.

One can access these premises from the second floor landing of the monumental staircase of the

building, and one gets immediately to the gallery built with sheet brick wall and supported by six

brackets of masonry.

On the right side of the entrance there is a closet room, currently used as a kitchen.

Walking the nine meters of the gallery one gets to a hallway that ends in three stair steps; these

lead to a living room with a window overlooking Piazza Campitelli. Immediately on the left, there

is a door that leads to a first bedroom.

Also on the left of the steps just mentioned, there is a passage that leads to a first bathroom and

another door leading to the second bedroom. There is then a second bath which belongs to the

latter bedroom.

Another hallway leads to the spiral staircase that starts from the Palazzo’s entrance hall.

The two bedrooms, as well as the living room have windows overlooking Piazza Campitelli.

The property was recently renovated in 2013. The two bathrooms are covered with travertine; the

floors of the living room and the bedrooms are covered with floor tiles while the coffered ceilings

are painted in white. The doors are also white and go back to the aforementioned restructuring of

the late 1800’s.

It has to be noted that in the living room, once one goes down three steps, there is a visible iron

beam supporting the ceiling of the building, installed during the renovation work, mentioned before.

The owners decided to adopt this original, aesthetic solution.

SUB#6(today ROOFTOP TERRACE,LITTLE CHAPEL,S. STAIRCASE)

‘’FOGLIO 492, PART.29, S. 507’’

A terrace with an attic on the same level, placed at the front of the ‘Palazzo’, and accessed from

a spiral staircase that starts in the entrance hall, with three doors of which two entrances to the

premises indicated as SUB #4 and SUB #5, as well as an additional third door leading to a small

frescoed chapel.

This real estate unit consists of a spiral staircase that leads from the entrance hall to the terrace

overlooking Campitelli square, and also provides access to units SUB #4 and SUB #5.

The terrace and the adjoining attic are part of the front structure of the ‘Palazzo.’ These can be

accessed from the spiral staircase and extend over a total commercial area of 102.3 m2 and 86.88

m2, respectively.

The attic has recently undergone some restructuring and consolidation. It has a bathroom with a

shower as well as an American-style kitchen.

The floor consists of rustic wooden parquet, while the terrace has been completely repaved.

As described above, the spiral staircase leads to a small oratory chapel that has undergone recent

restoration works.


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SUB #7(today OFFICE)’’FOGLIO 492, PART.29, S.2’’

A unit on the ground floor of the property under n. 1, with two entry points from the entrance hall

of the ‘Palazzo,’ adjoining the above mentioned spiral staircase.

This real estate unit extends over a commercial surface of 123 m2, and it consists of four rooms

as well as a bathroom with a closet.

The first and the second door to the left from the entrance hall provide access to the first two

rooms of this real estate unit.

One can also access - from the second door of the hallway, through a spare room - some marble

steps with a wooden balustrade that, in turn, provide access to a bathroom with a shower belonging

to these premises.

On the right of the marble steps, there is a door which is currently closed, through which one could

have direct access from these premises to the said spiral staircase.

The two main rooms have Venetian-style terrazzo floors with recently restored colorful bands and

cornices.

The ceilings are decorated with stucco ornaments and painted in chiaroscuro.

A fresco was hidden underneath the ceilings and revealed during restoration. When it was discovered,

the superintendent of the cultural heritage at Rome requested that it remain uncovered.

The doors of the two entry points are made of Norway spruce with copal designs while the interior

doors are painted in a dark color and equipped with locks and metal door handles.

The windows of the facade have glass panels and inner sash windows of Norway spruce.

The restoration of this property required some strong artistic and architectural commitment and

was completed only in 2012.

The electrical installations of heating and cooling are newer and in good condition.

SUB #8(today OFFICE)’’FOGLIO 492, PART.29, S.509’’

A property unit with a loft and with a large entrance from the hall of the ‘Palazzo,’ adjacent to the

premises presented as SUB #7.

This unit, extending over a commercial area of 61 m2, was assigned to be used as an office. Half

of its surface is lofted, making the unit 4.50 m and 2.6 m high, respectively.

The unit has no windows, yet it gets light through the large entrance door made totally of glass that

allows for a complete illumination.

This unit is also equipped with facilities found past the entrance, on the right.

The floor is made of faux wood.

It was also recently restored, including its utilities.

SUB # 9(today SMALL OFFICE)’’FOGLIO 492, PART.29, S.510’’

A frescoed ground floor unit with a single entry point from the entrance hall of the building.

This unit extends over a commercial area of 32 m2, and was assigned to be used as an office. It

consists of a single room with a recently restored fresco at the center of the ceiling, it has travertine

floors and its walls are equipped with a sink, now dismantled, but still with regular authorization

obtained in 2012. The height of the ceiling is 3.70 m.


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SUB # 10(today OFFICE) ’’FOGLIO 492, PART.29, S.512’’

A unit on the ground floor of the property with two entry points from the entrance hall of the ‘Palazzo’,

and with a basement.

As one enters the ‘Palazzo’, it is the third and fourth doorways on the right that give access to this

property. It consists of a first unit that takes light from the alley at the back of the ‘Palazzo’, which

is the private property of Sigma-Tau, an Italian pharmaceutical company.

From this unit one has access to three other rooms that are lit only by a French door opening onto

the same alley.

This property extends over a commercial area of 92 m2 excluding the basement which is accessed

via a steep staircase that is located in the entrance hall.

The underground consists of three rooms and a bathroom.

The floor of the ground floor is made of faux wood.

The vaulted ceiling is 5.20 m high in the first unit, and 4 m in all the other premises.

The electrical, plumbing and heating systems have been recently renovated.

SUB # 11(today OFFICE)’’FOGLIO 492, PART.29, S.508’’

A ground floor unit of the property with entry points from Capizucchi square and from the entrance

hall of the ‘Palazzo’.

This large unit extends over a commercial area of 114 m2, and it consists of a central space connected

to the services, which are doubled by means of a staircase and a loft of a second bathroom.

The entrance from Capizucchi square allows the use of this property independently from the doorway

and the entrance hall of the ‘Palazzo’ itself.

The height of the large room is 5.25 m.

It has marble floors, vaulted ceilings, and its outside door is rather large.

In the future, one might even want to bring a car through the front doorway if it is deemed necessary.

However, this unit, as of this day, is an elegant office restored in 2013.

SUB # 12(today STORAGE) ''FOGLIO 492, PART 25, S1''

A storage unit pertaining to the ‘Palazzo’, with an entrance from Capizucchi alley.

This small unit, with a small fresco inside, extends over a commercial area of 12 m2, and is used

today as a warehouse.

The entrance leads to Capizucchi alley and is part of the great ‘Palazzo’.


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SUB # 13 (today STORAGE)’’FOGLIO 492, PART.29, S.506’’

A storage unit on the ground floor of the ‘Palazzo’ with an entrance from the inside doorway of the

‘Palazzo.’

This small storage unit consists of two floors, each extending over a commercial area of about 12

m2, and is used today as a warehouse.

It belongs to the inner structure of the ‘Palazzo’.

SUMMARY

VALUABLE COMMERCIAL AREA IN SQUARE METERS, THE SUITES(SUB1,2,3,4,5,7,8) 1221,32

COMMERCIAL WAREHOUSE SURFACE IN SQUARE METERS:(SUB 12,13) 24

SURFACE OF GARDENS:(SUB 1) 177,65

SURFACE OF ROOFTOP &TERRACES WITH VIEW (SUB 4,6) 259,19

SURFACE OF SUITE'S EXTERNAL UNITS (SUB 9,10)

CAR PARKING AREAS AT THE ENTRANCE HALL OF ‘’THE PALAZZO’’

124

4

Certification and cadastral floor plans

The cadastral status of all units appear to have been recently updated and are compliant with

the current state of affairs (ANNEX 4). 9,10)

Compliance certification of utility systems

The appropriate certification has been obtained for all housing units (ANNEX 5).

Documentation on compliance with town-planning regulations

The works carried out on all the buildings were in conformity with the authorizations received from

the competent bodies of the Ministry of Culture and the Council of the City of Rome (ANNEX 6).

Other permissions for conducting various activities

The property referred to as SUB #5 received authorization to perform touristic activities (in line

with Regional regulation of October 24, 2008, n. 16 BUR; and of November 7, 2008, n. 41, S/130,

“Directives for accommodation facilities,” see ANNEX 7).

Documentation certifying the origin of the property

As evidenced by the attached proceedings, the full ownership is legitimately represented by

Filippo Bartolotta Cingolani for the properties referred to as SUBS #1, 2, 3, 4, 7, 8, 9, 10, 11, and

12; as well as by

Margherita Montefusco for SUBS #5, 6, and 13 (ANNEX 8).

Building regulations and tables

The new regulations on condos have been recently altered and enhanced by the addition updated

millesimal tables (ANNEX 9).


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Dossier of the conditions of the building prior to the renovations

During the renovation of the building, a dossier was drawn up, highlighting the structural and infrastructural

shortcomings to be urgently rectified (ANNEX 10).

Floor plans and maps of the entire property

During the renovation of the entire building new maps and floor plans were issued that minutely

reflect the property in its entirety (ANNEX 11).

Photographic documentation (ANNEX 12).

6- DESCRIPTION OF REDEVELOPMENT

Total amount: Euro 2 MM. All redevelopment included, considering the detailed design and

construction supervision. (ANNEX 13).The intervention involves the construction of three

luxury suites, following criteria of high-end finish. The luxury suites are equipped with fitness

and wellness facilities, and public areas that include: private security, private business office,

and a theater with a projection room.The owners published also a book and a video that show

the property after the redevelopment(ANNEX 12).

GARDEN SUITE

The Garden Suites is developed on three floors, featuring Sub 1, Sub 2 and Sub 3. The ground

floor of the Garden Suite are going to became private gym and wellness directly connected with

the apartment at the first floor of the Garden Suite, through a spiral staircase. Between the ground

and the first, there is an intermediate/mezzanine floor.

The ground floor of the apartment sub.1 will be connected with sub.2 and that connected with

sub.3. Sub.2 and sub.3, today contiguous, will be made communicating through the opening of a

simple door.

AMBASSADOR SUITE AND EXECUTIVE SUITE

The Ambassador and the Executive Suites are located at the second/mezzanine floor of the Palazzetto,

at the Sub 4 and Sub 5, respectively.

These areas will be connected to sub.6, spiral staircase, simply restoring the functionality of an

existing door, The connection with Sub.7 will take place by restoring an old existing door, while the

connection with Sub.8 will take place opening a new door.

In this way, the Ambassador and Executive Suites will have a big fitness and wellness area that

can be stunning and fascinating because original frescos and ceiling with vaults. The same spiral

staircase, equipped with motorized seat, will also connect the two suites to a little chapel and the

stunning rooftop terrace, Sub. 6.


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COMMON AREAS

Common areas feature Sub 9, Sub 10 and Sub 11 respectively as a Management Office, the Private

Entrance from p.za Capizucchi and the Theater; at the ground floor of the Palazzetto.

The Office, Sub.9, consists of a single room with a recently restored fresco at the center of the

ceiling, it has travertine floors and its walls are equipped with a sink, now dismantle. It will be necessary

to install the heating and air conditioning system.

The Private Theater, Sub.10, consists in a specious unit of three rooms and a bathroom. The floor

of the ground floor is made of faux wood. The electrical, plumbing and heating systems have been

recently renovated. Install a cutting-edge movie projector, a security system, refurbishment of the

bathroom in the basement, and other adjustments.

The Private Entrance. Sub.11, the entrance from Capizucchi square allows using it independently,

becoming a private and securing entry for the guests. It needs to be equipped.

CONCLUSION:

Implementation of security and home automation systems for all premises, according to the latest

technological standards. As well as the development of a sophisticated “landscape” and a botanical

and architectural intervention at the garden of the first floor and the rooftop terrace.

7 – ADDITIONAL REMARKS ON THE LOCATION OF THE REAL ESTATE PROPERTY

The property in question is located in Rome, in the historic Rione Campitelli, the tenth district, between

Via dei Fori Imperiali, Via di San Gregorio, Via dei Cerchi, Via San Teodoro and the stretch

of streets and squares near the Theatre of Marcellus. The small size of the area and, above all, its

richness in prominent archaeological sites and museums make it the least populous district of the

City: with very few residential buildings and less than one thousand residents.

The coat of arms of the District bears a black head of a dragon against a white background: it goes

back to the medieval legend of an evil monster which in the fourth century was threatening to the

Roman Forum until it was driven out through the intervention of Pope Sylvester I, also renowned,

by tradition, to be an exorcist. There are conflicting opinions about the origin of the name of the

district, ‘Campitelli’: some say it derives from Capitolium, the highest of the seven hills, on top of

which stood the most important ancient Roman temple dedicated to the worship of the triad of

Jupiter, Juno and Minerva. Another opinion attributes the etymology to the Latin name Campus

Telluris (‘dirt field’), in consideration of the fact that the name ‘Campitelli’ is also found in other cities.

Before the founding of Rome, until the ninth century BC, the area was only a marshy valley:

only later, when some tribes settled on the surrounding hills, did the area begin to function as a

meeting place for commercial purposes. Then, it became the throbbing heart of the public life of

the ancient agglomeration.


The very name ‘Foro’ probably comes from archaic Latin ‘Foras’, meaning “outside, away from

home”, indicating the neutral character that the place had for strangers who came here merely to

visit the marketplace here. During the Middle Ages and the Renaissance, ruined Ancient sculptures

and religious buildings remained submerged underneath the debris, and thus the area remained,

until the nineteenth century, devoted to the sale of livestock, taking the name of Campo

Vaccino.

In 1921, a part of the original area of the Campitelli was detached to form the newly constructed

Celio district. Nonetheless, since it contains the Capitol, the Palatine Hill and the Roman Forum,

it has certainly preserved its greatest touristic importance among the districts of the capital city.

Moreover, it can be said that up to Vittorio Emanuele II, Rione Campitelli was consecrated by

tradition to the Founding Fathers: just think of Romulus on the Palatine, Camillus on the Capitol,

the emperors in the Forum, and Cola di Rienzo. Moreover, one could also evoke the legendary

memories of the patron saints of Rome, all connected to this district: Saints Peter and Paul, Santa

Francesca Romana, San Sebastian, and St. Michael the Archangel. The remaining one of the

seven hills included in Campitelli, the Palatine, and it is indeed the soul of the oldest trades and

settlements that led to the founding of the city. Unlike the Capitol, the Palatine is not adjacent to

the Tiber: with its maximum height of 51 meters above sea level, it is located between the Roman

Forum and the Circus Maximus, and welcomes visitors as an authentic open-air museum. Walking

along the Via Sacra that starts near the Arch of Constantine is a unique experience every single

time. But the essence of the city, the center of prominent political life, trade and rites, as well as religious

practices was the Forum, which we now call the ‘Roman’ Forum but at the time was known

as Forum Magnum.

The Piazza del Campidoglio is still considered - just like it was two millennia ago - the geographical

center of Rome, the reference point to count all road distances with respect to the city. One goes

up there from Piazza Ara Coeli, via a staircase designed by Michelangelo in the mid-sixteenth

century: the square is surrounded by a number of buildings of great historical and institutional

prestige. The square itself was built following the design of Michelangelo, in terms of both its layout

and the geometric pattern of the pavement. Moreover, the current structure of the Capitol is the

result of a complex series of projects, constructions, conversions and renovations that took place

between the fifteenth and the seventeenth centuries. On the northern side of the hill - impressive

in its dazzling whiteness - emerges the Vittoriano, built between 1885 and 1911, and dedicated to

Vittorio Emanuele II and the unification of Italy in 1870. Designed after the First World War also as

a military memorial and home to the Tomb of the Unknown Soldier, it receives constant attention

from tourists, and indeed precisely for this reason, nowadays it has been the target of heated criticism:

since its visual impact is too massive and aggressive compared to the Antique monuments

behind it, some have labeled it with allusive nicknames like ‘the typewriter’, ‘the wedding cake’, or

‘the inkpot’. A few years ago some even came up with the idea to demolish it; but the outcome of

the controversial debates arising was to finally accept the bulky monument as an entity adopted

on its own right into the urban landscape of the capital.

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However, the real architectural distortion in that area was due to the opening of the Via dei Fori

Imperiali - in the beginning called Via dell’Impero - according to the fascist project of modernizing

monuments and celebrations. It was inaugurated in 1932 by erasing entire historic streets, demolishing

church buildings, gutting hills and pulling down old structures and statues of the Roman

republican and imperial age. So what was built in the early days of the city, and what was designed

and built in recent times, coexist in Campitelli more than in any other location in Rome. It took ten

months’ work to change all of the features of the area: the new large gap emerged between Piazza

Venezia and the Colosseum – beyond any possible ideological consideration – presented itself

from the start, on the aesthetic, functional, urban levels, as the most visible symbol of the eternal

conflict that seems to caress the soul of those who live or pass through the walls of the City. That

intermittent and arcane dilemma, which is ultimately impossible to solve, inextricable, and for this

reason darkly fascinating; that doubtful hesitation between the admiration of the ancient and the

need for modernization – that dilemma lingers and spreads in Rome in a unique way within the

whole world. And that is not a limit, but rather a continuous source of new vitality – like the needle

of an imaginary compass of time, vibrating between the remains of the early days, the recent

echoes of the day before yesterday, and the deafening calls of today.

8 – SUMMARY OF SURFACES IN SQUARE METERS

ALUABLE COMMERCIAL SUITES SURFACE 1221,32

STORAGE SURFACE 24

SURFACE OF GARDENS 177,65

SURFACE OF ROOFTOP & TERRACES WITH VIEW 259,19

SURFACE SUITE'S EXTERNAL UNITS 124

CAR PARKING AREAS AT THE ENTRANCE HALL OF THE ‘PALAZZO’ 4

9 - A SEARCH FOR THE EVALUATION CRITERIA

According to a general definition, “evaluation is the discipline that aims to provide the methodological

tools for the assessment of those assets that can not be assessed in an unambiguous fashion”

(“Estimo. Teoria, procedure di valutazione e casi applicativi” / “Appraisal. Theory, assessment and

case studies”, Grillenzoni Maurizio, Grittani Giovanni – Calderini – 1994).

For the proper preparation of an estimate, it is necessary to establish, in the first place, the principle

of ‘objective assessment’ whose absence will inevitably make the estimate depart from market

realities – which, in fact, is a substantial and determining feature when seeking to ascertain a

value.

In the present case, the purpose of the estimative report is to identify “the most probable maximum

market value” to be allocated to the building, taking into consideration the optimum conditions resulting

from a radical functional redevelopment as described in the previous chapter.

Having said that, we have been focusing - as per our mandate - on establishing the Market

Value applying the processes of direct estimates.


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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 features and 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.


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In the course of our research we identified the following properties offered for sale(see chapter 12 about the

most important notes):

,2,3,4. Palazzo Maffei dei Borghese (ANN.14)

Sold by Sotheby's Realty

V = Penthouse apartment 258 sqm at € 9,500,000 (euro 36821 /sqm)

Loft = 174 sqm at € 4,400,000 (euro 25287 /sqm)

N1 = 170 sqm at € 3,600,000 (euro 21176 / sqm)

: N2 = 85 sqm apartment at € 2,300,000 (euro 27058 /sqm)

The above prices include all fittings with floors and ceilings and top home automation system and

the most advanced

technologies.

The property has a doorman and 24h security service.

Price/m2: 28820 Euro/m2

Price/sq ft:2677 Euro/sq ft

5. 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

6. 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

. 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


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Considering these four units of real estate property, one may conclude that our parameter

is 26,000 Euros per square meter.

However, one should not overlook the fact that the measurements of these units of property are

certainly not as rigorous as the measurements adopted for the present report of assessment. One

may notice, in fact, that in most cases cellars or terraced surfaces are included in full to the

square meter values.

In addition is very important to consider that the aforesaid properties are not comparable to the

property in estimation in terms for the formers' individual combinations of

features(chapters12,13)

11 – A VERIFICATION OF THE NOMISMA OBSERVATORY ON ‘’EXCLUSIVE

RESIDENCES IN ROME’’

Since 2003, Nomisma has been publishing a monitoring report on the most exclusive segments of

the residential market. The Observatory of Exclusive Residences - a rather unique publication in

Italy of its kind – is published twice a year, and is intended to provide an economic outlook and

a perspective on the quantities, values, trends and the opinions expressed by professionals of

Nomisma/Tirelli & Partners regarding a segment that presents characteristics and trends being

very different from the rest of the residential market.

The Observatory is published in late February and in late September of every year at a press

conference to which the major Italian newspapers are invited.

You can download all issues of the Observer published to date, by clicking on “Download” on the site:

http://www.tirelliandpartners.com/showPage.php?template=download&search=Categoria2


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Price requests (1) for valuable housing properties in Rome - first half of 2014

Urban

Areas

Min. Average

Price for m2 (2)

€/m2

Change

during the

first half in %

Max. Average

Price for m2 (3)

Average

Price for m2 (4)

Highest

Price (5)

Average

Total

Price (6)

Max.

Total

Price (7)

Change

Change

€/m2

during the

€/m2

during the

€/m2 €/m2 €/m2

first half in %

first half in %

Historical 7.042 -6,7% 13.789 -4,7% 10.303 -5,9% 25.833 2.507.556 31.000.000

Center

Pinciano 7.440 -3,7% 10.208 9,9% 8.909 5,1% 16.667 2.140.909 5.000.000

Veneto

Parioli 6.214 -8,0% 11.271 -2,5% 8.518 -5,4% 16.364 2.546.304 9.000.000

Salario Trieste

Prati 6.875 2,6% 10.522 -6,2% 8.551 -3,4% 12.857 1.840.769 4.500.000

Vigna Clara 5.817 3,8% 9.365 -7,4% 7.284 -2,5% 10.000 1.983.333 6.500.000

Camilluccia

Average 6.678 -2,8% 11.031 -2,6% 8.713 -2,7% 16.344 2.203.774 11.200.000

Price requests (1) for valuable housing properties in Rome - first half of 2015

Urban

Areas

Min. Average

Price for m2 (2)

€/m2

Change

during the

first half in %

Max. Average

Price for m2 (3)

Average

Price for m2 (4)

Highest

Price (5)

Average

Total

Price (6)

Max.

Total

Price (7)

Change

Change

€/m2

during the

€/m2

during the

€/m2 €/m2 €/m2

first half in %

first half in %

Historical 6.907 -6,8% 12.760 -7,4% 9.657 -0,6% 21.667 2.423.333 18.000.000

Center

Pinciano 6.937 -2,5% 11.025 3,5% 8.846 -0,7% 16.667 2.150.000 11.000.000

Veneto

Parioli 5.535 -2,8% 10.804 -3,7% 7.894 -3,1% 16.444 2.348.421 7.800.000

Salario Trieste

Prati 6.459 0,3% 10.643 -0,1% 8.151 -0,2% 12.857 1.752.941 4.500.000

Vigna Clara 5.184 2,3% 8.532 -1,9% 6.616 1,0% 10.000 1.787.222 6.500.000

Camilluccia

Average 6.204 0,6% 10.753 -2,3% 8.233 -0,8% 15.127 2.092.384 9.560.000


appraisal

Price requests (1) for valuable housing properties in Rome - second half of 2015

Urban

Areas

Min. Average

Price for m2 (2)

€/m2

Change

during the

first half in %

Max. Average

Price for m2 (3)

Average

Price for m2 (4)

Highest

Price (5)

Average

Total

Price (6)

Max.

Total

Price (7)

Change

Change

€/m2

during the

€/m2

during the

€/m2 €/m2 €/m2

first half in %

first half in %

Historical 7.059 2,2% 13.098 2,6% 9.880 2,3% 21.667 2.494.444 2,9%

Center

Pinciano 7.102 2,4% 11.292 2,4% 9.059 2,4% 16.667 2.225.000 3,5%

Veneto

Parioli 5.611 1,4% 10.521 -2,6% 7.742 -1,9% 14.444 2.288.000 -2,6%

Salario Trieste

Prati 6.488 0,4% 10.835 1,8% 8.280 1,6% 12.857 1.823.529 4,0%

Vigna Clara 5.087 -1,9% 8.466 -0,8% 6.548 -1,0% 10.000 1.769.474 -1,0%

Camilluccia

Average 6.269 1,0% 10.842 0,8% 8.302 -0,8% 15.127 2.120.090 1,3%

Average

(1) Values in the table are calculated on the basis of the requested price for both sold properties and properties

announced for sale.

(2) The average value per m2 of valuable residential units, having a lower price than the first quartile of the real estate

price distribution per m2.

(3) The average value per m2 of valuable residential units, having a higher price than the third quartile of the real

estate price distribution per m2.

(4) Average price value per m2 of the real estate properties.

(5) Highest price value per m2 of the real estate properties.

(6) Average total price value per m2 of the real estate properties.

(7) Highest total price value registered during this half of the year.

Source: data provided by Nuova Attici & processed by Nomisma


appraisal

It should be clarified that under the unequivocal designation of “exclusive residences” one must

identify at least two different categories with potential differences between them, in terms of markets

and trends.

On the one hand, there are the real estate units with the highest profile: large and very large residences

(250 m2 and above, sought by a narrow range of users. On the other hand, there are

real estate units in the category of “exclusive” as per their size and cost, which however are still

accessible to a wider range of users.

To make categorization easier, the first segment hereafter will be referred to with the adjective

“top”, while the second with “medium”.

We will resort to this categorization whenever the correct analysis, or the explanation of the observed

phenomenon so requires. If not mentioned explicitly, all aspects must be considered valid

for the segment as a whole.

Clearly, in the first half of 2014 and in 2015 the top price for the category - which without a doubt

includes the described real estates, in our estimation - was an average of 23,055 euro per

square meter.

On January 7, 2015 we witnessed an important transaction in the heart of Rome. Here is the

statement released to the press by the major international news agencies:

“Yesterday, PSG striker soccer player Edinson Cavani completed the purchase of a penthouse

in the center of Rome for the amount of 8.7 million Euros – reveals a statement released by the

British association. The property - located on the third floor of a building from the 1700’s - consists

of four bedrooms, a three living rooms, 3 bathrooms, a private gym and relaxation area

extending over a total of 450 square meters. The deal was completed in a few days and was

formalized by the Notary Giuliani in Rome.”

Therefore, as you can see, even though we do go into the details, there was a transaction for a

per square meter amount around 20,000 Euros.


perizia

12-SEARCHING FOR THE MARKET VALUE:FEATURES IN COMMON

The features of the property compared to the features of the units that we have considered as

parameters for evaluation criteria, are:

- 3 units-apartments with maximum flexibility of use, which are independent real estate units.

- The general prestige of the property and its common monumental areas.

- The location at the historic heart of Rome, in a historically and architecturally unique city zone.

- The structure has been subject to thorough remodeling.

- The amenities available to each suite-apartment and the rarity of such offering.

- The condition of the individual units after remodeling.

- 4 parking spaces available in the courtyard of the building.

- The recent roster of prestigious residents.

- Low property taxes based on Italian tax law.

- 43 -


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13 – SEARCHING FOR THE VALUE:EXTRAORDINARY FEATURES OF THE

PROPERTY

First of all It is necessary to clarify that considering the historical significance, the absolute

uniqueness and the value of the property, any economic assessment is considered very difficult

to reach, being about a ''trophy asset/home/property''(see note below*).

The extraordinary features of the property that are not comparable with the features of the units

that we have considered as parameters for evaluation criteria, are:

1-An architectural masterpiece erected by men of genius. Both the project and its execution bear

the mark of two great 17th century architects in Rome: Giacomo della Porta and Girolamo

Rainaldi. The property features the following exclusive characteristics:

A) They integrated the new construction into the ancient preexisting Palazzetto, allowing this

unit to extend and merge into the new construction without being able to recognize that you are

in one side or in the other part of the Palazzo;

B) They created and maintained a direct view of the entry of Santa Maria (which is the

Campitelli Church located in front of the Palazzo Albertoni Spinola) from the original door of the

Palazzetto, despite having built the great Palazzo in front of what preexisted building;

C) They have made possible the use of the old roof secret garden of the Palazzetto with the

first floor of the Palazzo, making this unit a unique property of its kind.

2- The “chameleonic” quality of a property, both at the urban-legal and the physical levels,

that features multiple entrances and thus constitutes one and at the same time multiple units that

are completely autonomous, hence the emphasis on “privacy” but at the same time the usability

of the common monumental areas.

3- In regards to such setup, the possibility of touristic-residential use and therefore of the

development of projects that are particularly profitable and that, thanks to current regulations on

the matter, can be carried out without altering the urban physiognomy, thus allowing for private

residential use at any moment.

*Note from the book :THE SINGLE FAMILY OFFICE By Richard C. Wilson , Columbia, SC 08 May 2018, (pages 197-199)

Trophy Assets and Cross-Purpose Properties

I know several wealthy families who have overpaid for various assets, particularly real estate properties, in order to secure a “trophy.” By this I

mean to say that a family may pay a premium for a property that has unique social or prestige benefits, such as the Empire State Building in New

York or the Raffles Hotel in Singapore.

A single family office that purchases one of these trophy assets will take advantage of the branding and prestige benefits in hosting business

meetings, social gatherings, and other events at their property. Most real estate developers would appreciate the trophy aspect, but they might not

be willing to spend to the same degree that a single family office would in some cases. Of course, a single family office will not simply buy an

overpriced asset just to show off, but the team may adopt a longer time horizon for the investment with the understanding that the short-term

benefits will be largely the trophy aspect, branding, and other less tangible assets..........

...if a family can use the propertyas a business asset, much like you would a private jet, or a complementary prestige asset,then it might be worth

acquiring the asset, even at a premium. It is important to consider the long- term benefits, whether it is the trophy aspect or another use of the real

estate, when evaluating real estate investments.


appraisal

14 – THE AVERAGE OF VALUES

In the previous sections we were conducting a search for the value of the redeveloped real estate

property. Based on statements made in the preceding paragraphs, the evaluation of the consistency of

the property goes as follows(in euros):

VALUABLE COMMERCIAL SURFACE SUITES IN SQUARE METERS(SUB 1,2,3,4,5,7,8,11) 1221,32

1221,32 x 24000 = 29311600

COMMERCIAL STORAGE SURFACE IN SQUARE METERS (SUB 12,13) 24

24 x 4000 = 96000

GARDEN SURFACES (SUB 1) 177,65

177,65 x 8000(one third of the full price per square meter) = 1422880

SURFACE OF ROOFTOP & TERRACES WITH VIEW(SUB 4,6) 259,19

259,19x 12000 (half of the full price per square meter) = 3110280

SURFACE OF SUITE'S EXTERNAL UNIT(SUB 9,10) 124

124x 8000=992000

CAR PARKING AREAS AT THE ENTRANCE HALL OF THE ‘PALAZZO’

n. 4 x100000=400000

Value of property redeveloped as real estate NON CONSIDERING features on Chapter N.13: 35332760

However, considering the characteristics of the property from the standpoint of it being a work of art and

having other uncommon features (see ‘Historical notes’ and Chapter N.13), I would not be surprised if the

value of such a rare property were to appreciate to the point to suffer a strong price increase.

15 – ANNEXES

1- RESTORING THE WHOLE PALAZZO:LAST WORKS

2- CATALOG OF THE SCULPTURES

3- GOVERMENT LAW OF 1933

4- CADASTRAL CERTIFICATE AND FLOOR PLANS

5- POLLUTION AND ENERGETICH CERTIFICATE

6- ALL THE PERMITS

7- HOSPITALITY PERMITS

8- TITLE OF PROPERTIES

9- CONDO RULES

10- BOOK ABOUT THE BUILDING IN ACCORDANCE WITH PAST LAW

11- ALL THE FLOOR PLANS AND DESIGNES

12- PICTURES AND VIDEOS

13- DESCRIPTION INTERVENTION OF DEVELOPMENT

14- RECENT PRESS REVIEW AND PALAZZO MAFFEI BROCHURE

Ivan Mammuccari


appraisal

Appraiser

Mr. Ivan Mammucari

Professional qualifications

Licensed to practice the profession of Surveyor obtained in Rome;

Enrolled in the Surveyors’ Provincial Association of Rome with the no. 8293 on 1/27/1999.

Enrolled in the Architecture Course of Study at the University of Rome “La Sapienza” since 1981.

Registered with the Velletri Court under no. 1101 of the civil Register, as consultant;

Computer skills

Excellent knowledge of hardware and software (Autocad 2004, Autocad 2000, Autocad 14, Autocad LT, Word 7.0, Excel,

Publisher, Leonardo), programs of the Ministry of Finance for cartographic updates of the Ministry of the Territory: Pregeo,

Docfa, Docte, Volture; accounting program, Primus jobs.

Refresher courses

At the Land Register to register through the new Docfa procedure version 3.04 and key for telematic transmission.

At the Land Register to insert the constructions on the map through the Pregeo procedure version 9.01;

Work experience

Took part as Data Collector to the 3rd Agriculture Census of 1983 in the Municipality of Velletri.

In 1998 collaborated with the “A & L Associati” office of Mr. Paolo Annavini of Rome as Coordinator for the province of

Rieti and Northern Rome for cadastral works with the Ministry of Finance – A.I.M.A. FINSIAL – and Ministry of the

Territory for the photo interpretation of unrecorded property, not indicated on the map.

Professional experience

From 1983 to 1985 and from 1987 to 1995, carried out collaboration with the Architect Massimiliano Bombetti registered

with the Architects Association of Rome under no. 3913, with office in Velletri (Rome), Trento and Trieste Square no. 3,

and specifically took part to the drafting of the following projects:

General local strategic plan of San Giorgio Lucano (MT);

Recovery plan of the historic center of the Municipality of Oriolo Calabro (CS);

Production site plan (P.S.P.) of the Municipality of Oriolo Calabro (CS);

Consolidation and restoration of the Medieval Castle of Oriolo Calabro (CS);

Consolidation and restoration of the Mother Church of Oriolo Calabro (CS);

Consolidation of Pieruban mountainsides of the Municipality of Rocca di Neto (CZ);

Drafting of 4 sports venues in the Municipalities of Belvedere Spinello – Rocca di Neto – Oriolo Calabro – Roseto Capo

Spulico (not financed);

Private projects and agreed arrangement of building plots in the Municipalities of Oriolo Calabro – Amendolara – Roseto

Capo Spulico – Trebisacce (province of Cosenza), in the municipalities of Rocca di Neto – Belvedere Spinello (province of

Catanzaro) and in the municipalities of Velletri – Genzano of Rome (province of Rome).

Has been working independently since 1996, collaborating with other surveyor colleagues, especially in carrying out the

following assignments:

For public works contracts in collaboration with other technicians:

Municipality of Velletri:

• Dimensioned plan and rectification of the borders in Velletri in source locality Santa Maria dell’Orto with end report in

collaboration with surveyor Massimo Di Fabio;

• Splitting up of Municipality of Velletri: public road Via XXIV Maggio, Via Padre Mariano Colagrossi, via Oreste Nardini

in collaboration with surveyor Massimo Di Fabio;

• Municipality of Velletri rectification of boundary and division of some properties built by Cooperatives in Zoning

Map167 in collaboration with surveyor Massimo Di Fabio;

• Municipality of Velletri plano-altimetric survey of the local road of Colle Formica;


appraisal

• Municipality of Velletri plano-altimetric survey of the local road of Poggi D’Oro in collaboration with surveyor Massimo

Di Fabio;

• Municipality of Velletri plano-altimetric survey of the local road of the Vascucce in collaboration with surveyor Massimo

Di Fabio;

• Survey, division and staking out of Vascucce locality junction.

• Municipality of Velletri planning and survey of the Hospital Connector which connects the via Appia with the Velletri

hospital in collaboration with surveyor Andrea Andreozzi;

• Municipality of Albano Laziale survey and planning of two street segments in Albano Laziale adjacent to the Public Hospital

in collaboration with Eng. Giulio Nardini;

• Municipality of Velletri planning and Management of the Works for extension and hydraulic installation-local road of

the Vascucce in collaboration with surveyor Massimo Di Fabio.

For private customers:

• Topographical surveys with electronic theodolite “Geotronic” for other technical studies of Rome and province and Latina

and province:

• Registration of buildings with inclusion on the map at the Land Register through “Pregeo” procedure and at the Urban

Land Register through “Docfa” procedure;

• Division of Land;

• Dimensioned plans (contour lines, sections …) with rendering of the same in Autocad 14 – autocad 2000, 2004, topographical

program “Leonardo Classico”;

• Cadastral transfer registration land register and urban register;

• Regularization projects Law 47/85, law 724/94, law 326/2003 and R.L. no. 12/2004 even on areas subject to the restriction

in accordance with law 1497/39 and subsequent amendments and additions and with law 431/85;

• Planning of new constructions, authorization to unload, hygienic sanitary suitability of business premises etc.

Private construction projects carried out during the period going from the year 1999 up to today.

• Assignment no. 587/98/8001 by “SILEC S.p.a. – Planning and Constructions” of Leini (TO) for the dimensioned plans

and support to the enterprise during the execution of the works pertaining to the drainage system and the purification

system of the city of Velletri (Rome);

• Assignment for topographical surveys by the company “M.T.C. S.p.a.” headquartered in Rome for the realization of a

hospital in Sacrofano (Rome) Rimessa della Fame locality and survey of the Spolverini di Ariccia hospital for a sum of €.

1.291,14;

• Assignment by Arch. Agapito Fornaro on 1/8/2001 for the topographical survey in the municipality of Velletri with dimensioned

plan, contour lines and cadastral addition on Via Guido Nati and Via Menotti Garibaldi;

• Assignment by Arch. Bruno Fede on 9/10/2002 for topographical survey in the municipality of Velletri with dimensioned

plan contour lines and cadastral addition on Via del Fontanaccio, via Martiri delle Fosse Ardeatine Viale Oberdan, Piazza

Mazzini;

• Computerization on aerial photogrammetry of the toponymy, boundary delimitation of the territory, districts, population,

green areas, hygienic services, cemetery area, location of the dumpsters to collect urban solid waste of the entire area

of the Municipality of Velletri, on behalf of the Company Volsca Ambiente Spa. with assignment in December 2000;

• Joint assignment with surveyor Massimo Di Fabio by Eng. Marco Arcieri for the plano-altimetric surveys of the abandoned

railroad Velletri-Colleferro tract internal to the Municipality of Velletri;

• Assignment of surveys for Contest–Contract for Eng. Raffaele Colosimo by the GEA s.p.a. company headquartered

in Naples in the municipality of Civitavecchia for the realization of a drainage system on via Braccianese, locality of

Madonnina;


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• Assignment Eng. Roberto Naso of Rome as engineer of the “C.T.L. s.r.l.” company for contract-contest surveys municipality

of Pomezia locality of Castagnetta – Via Naro and 3 current purification installations;

• GEA S.p.a. assignment by Eng. E. Marino headquartered in Naples on 2/6/2004 for surveys and dispossessions in the municipality

of Pomezia: locality of Castagnetta, Torvaianica Alta, Campo Jemini, Laurentina central connection and Pomezia

Sud Reservoir;

• Court of Latina Assignment (bankruptcy division) Judge Michele Cataldi bankruptcy no. 31/04 on 11/10/2004 for the

topographical surveys of an abandoned Mine municipality of Fondi (LT);

• Assignment by Piazza Garibaldi Professional Association – arch. Orsola Gazzanica for plano-altimetric survey in the

municipality of Velletri of Piazza Garibaldi;

• Assignment by arch. Giampaolo Ercolani for plano-altimetric survey of the public garden of Viale Marconi in the municipality

of Velletri;

Personal assignments Municipality of Velletri, Nettuno, Pomezia, Marcellina carried out in the period going from 1999 up

to today

• Received assignment on 9/20/1999 to divide a plot of land on which a public artesian well persists in Colle Scarano District

Municipality of Velletri;

• Assignment to divide and terminate the area for transfer to the Ministry of the Interior for the construction of the Fire

station, Municipality of Velletri Decision C.E. no. 449 of 12/31/1999;

• Assignment of the Municipality of Velletri Decision of C.E. no. 492 of 8/10/2000 for land register certificates of no. 4

public areas in the local territory;

• Municipality of Velletri assignment Measure no. 67 of July 17, 2001 division of land subject to dispossession Municipality

of Velletri area Zoning Map 167;

• Municipality of Velletri assignment Measure no. 365 of 10/18/2001 division for rectification and termination Source area

Santa Maria dell’Orto;

• Municipality of Velletri assignment Measure no. 385 of 10/22/2001 Cadastral Variations ex “Eca” Property in Via del

Corso della Repubblica;

• Assignment from Carano Aqueduct Consortium Municipality of Nettuno area division Acciarella locality for lift sewage

system Board of Directors of 4/3/2001;

• Municipality of Velletri assignment, technical and graphical instrumental survey of the road of Paganico Determination

service VT no. 368 of 10/26/2000;

• Appointment of Criminal Police Aid on 3/3/2003 by the Financial Police (Velletri Company) following the assignment

conferred by the Public Prosecutor’s Office of Velletri signed by the Deputy Public Prosecutor Ms. P. Della Vecchia for the

exact identification of the boundaries of an area located in the Municipality of Velletri near the Hospital;

• Professional assignment together with another technician surveyor Massimo Di Fabio in the Municipality of Velletri

to plan and manage the construction of two parking lots of P.R.G. in via dei Volsci Appia State Road Measure no. 415 of

12/14/2001;


appraisal

• Municipality of Velletri professional assignment to re-establish the borders and end the covered market Measure no. 34

of 10/7/2002;

• Municipality of Velletri assignment to stake out and divide a local road called Via di Troncavia Measure 309 of July 23,

2002 and addition of Measure no. 106 of 3/31/2004;

• Municipality of Velletri assignment to re-establish the borders and end the dumping of the urban solid waste in Lazzaria

District Estate Area Measure no. 35 of 10/10/2002;

• Municipality of Velletri assignment through measure no. 233 of 11/11/2003 in collaboration with the Director of the

Municipality of Velletri for the realization of a parking lot in regard to the Velletri Public Hospital;

• Municipality of Pomezia assignment to define dispossessions and easements areas for the normalization of public sewage

drainage of the Northern Area of the Capital – I extract Measure no. 129 of August 1, 2003;

• Municipality of Velletri joint assignment together with another technician to end and register the elementary school

of Colle Palazzo and Tevola District Measure no. 85 of 7/1/2005; and additional assignment through Measure no. 260 of

12/27/205;

• Municipality of Marcellina assignment (Rome) through Measure no. 353 of 11/23/2006 to divide and verify the area

subject to dispossession of the Congregation for the Evangelization of the People – Voluntary Transfer of Areas for the

Santa Palomba reservoir and Conduits;

• Municipality of Velletri assignment as Operational Director and Construction Site Inspector within the Works Management

Office of the Colle Perino junction Appia S.R. Area V Measure no. 44 of 2/7/2006;

• Municipality of Velletri assignment for plano-altimetric survey and planning proposal of the junction of Colle Ottone

through Measure no. 22 of 2/12/2004 Transportation Area;

• Municipality of Velletri assignment together with another technician for plano-altimetric survey of the following junctions:

Via dei Volsci-Via Lata; Via Appia-Via Fontana delle Rose; Via Appia-Piazza Garibaldi; Via Appia-Via Santo Tomao;

Via Appia-Via di P.R.G.; Viale Rome-Via dei Laghi; Via Campo sportivo-Via A. Fanfani – Via E. De Filippo – Via Circonvallazione;

Via Appia-Via dei Cinque Archi-Viale Salvo D’Acquisto; Measure no. 133 of 6/20/2003;

• Municipality of Velletri assignment to divide public utility extension area school of Colle Carciano Measure no. 229 of

9/31/2006;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Pomezia

referenced in Measure no. 55 of 5/25/2007l for the “Division and Dispossession Procedure – Zoning map 167/62 Section

1”. (contract on 9/19/2007 index no. 6377). Amount €. 12.000,00.

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Pomezia

referenced in Measure r.g.n. no. 1568 of 5/18/2007 for “Dispossession Procedures and for the land register division relating

to public works carried out prior to the coming into effect of the Consolidation Act on the dispossession of public Utilities”

– (contract on 9/19/2007 index no. 6378). Amount €. 25.000,00.

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

referenced in Measure area IX no. 86 of 12/21/2007 for plano-altimetric survey and extension of the public Cemetery –

(contract dated 2/8/2008 index no. 1808);


appraisal

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri referenced

in Measure no. 235 of 11/28/2008 Area V for inclusion in the map and registration of sports center and enel electricity cabin;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

Public Works Reference no. 407 of 3/30/2009 assignment for transcription, registration and transfer of acquisition decree

Santo Tomao junction area;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

Public Works Reference no. 50 of 4/14/2009 for topographical surveys, unit plans, routes, typing and printing of Detour

route Via delle Fosse – Viale Oberdan-Via Appia, on the route of the Velletri-Rome railroad;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

referenced in Measure no. 100 of 7/20/2009 area V Identification of boundaries between public and private property in the

locality of Ponte Bianco;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

referenced in Measure no. 190 of 7/23/2010 area V coordination of safety in the execution stage for the extraordinary

maintenance of Via Vascucce;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

referenced in Measure no. 232 of 12/24/2010 area V division for dispossession and inclusion in the map and registration

of the school building of Ponte di Mele;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

referenced in Measure no. 248 of 10/12/2010 area VI Public Works. Addition of drafting of Survey of the Vascucce Velletri

public road Variation;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

referenced in Measure no. 223 of 9/9/2011 area VI. Survey to identify Colle Palazzo road;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri

referenced in Measure no. 110 of 6/15/2011 area IV Public Works. Division of the work areas for the development of the

traffic circle in the Papazzano locality;

• Assignment to the firm of surveyor Ivan Mammucari and surveyor Massimo Di Fabio by the Municipality of Velletri referenced

in Measure no. 245 of 11/13/2012 area IV Public Works. Assignment of stake out of the new road in preliminary

to the carrying out of the geological investigations in Via Circonvallazione di Ponente;

• Assignments from the Court of Velletri Property Execution Office. Executions numbers: 204/02 – 30/06 – 419/04 –

306/02 – 42/00 – 46/01 – 287/96 – 689/96 – 237/05 – 374/02 – 161/04 – 514/03 – 4/02 – 8/00-196/07 – 403/03 – 502/03

– 156/07 – 450 and 451/02 – 21/08 – 305/08 – 267/03 – 305/07 – 436/08 – 409/08 – 151/08 – 189/05 – 132/05 – 325/8

– 377/09 – 474/09 – 527/08 – 523/09- 284/10 – 247/10 – 401/10 – 427/10 – 410/10 – 753/10 – 809/10 – 358/11 – 648/11

– 906/11 – 449/12-

• Assignments from the Court of Velletri – separate section of Albano Laziale, Anzio and Frascati civil suits: number

40473/01 – 67/2004 – 40334/06 – 40250/07 – (554, 552 and 549/05)- 616/06 – 4517/10 – 2017/10 – 7072/2008.


- 53 -

value of the company


Refurbishment

Project

appraisal

attachment n.13


efurbishment project

Intervention of redevelopment

The construction of three luxury suites to be carried out with the highest standards. The design of the furniture is

by Philippe Starck. These suites are to be equipped with fitness and wellness areas, as well as shared common areas

with se-curity facilities, an office and a movie-theatre.

Garden Suite

The Garden Suites is developed on three floors, featuring Sub 1, Sub 2 and Sub 3. The ground floor of the Garden

Suite are going to became private gym and wellness directly connected with the apartment at the first floor of the Garden

Suite, through a spiral staircase. Between the ground and the first, there is an intermediate/mezzanine floor.

The charming private garden provides serenity, harmony and peace. Thanks to the floor to ceiling windows the

spacious rooms of this apartment have an incredible amount of natural light. The antique hand painted wooden

ceilings and the cozy fireplace can create the comforting atmosphere of a real home.

The ground floor of the apartment sub.1 will be connected with sub.2 and that connected with sub.3:sub.2 and sub.3

are going to became private gym and wellness directly connected with the ‘’garden apartment ‘’

Ambassador Suite and Executive Suite

The Ambassador and the Executive Suites are located at the second/mezzanine floor of the Palazzetto, at the Sub 4

and Sub 5, respectively.

The spiral staircase sub.6 will be connected (opening the old existing door) with sub.7 and that one with sub.8, opening

a completely new door this time. In this way, the Ambassador and Executive Suites will have a big fitness and wellness

area that can be stunning and fascinating because original frescos and ceiling with vaults. The same spiral staircase

will also connect the two suites to a little chapel and the rooftop terrace, Sub. 6.

Common Areas

Common areas feature Sub 9, Sub 10 and Sub 11 respectively as a Management Office, the Private Entrance from

p.za Capizucchi and the Theater; at the ground floor of the Palazzetto.

The Office consists of a single room with a recently restored fresco at the center of the ceiling, it has travertine floors

and its walls are equipped with a sink, now dismantle. It will be necessary to install the heating and air conditioning

system.

The Private Theater consists in a specious unit of three rooms and a bathroom. The floor of the ground floor is made

of faux wood. The electrical, plumbing and heating systems have been recently renovated. Install a cutting-edge movie

pro-jector, a security system, refurbishment of the bathroom in the basement, and other adjustments.

The Private Entrance consists of a central space connected to the services, which are doubled by means of a staircase

and a loft of a second bathroom. The entrance from Capizucchi square allows using it independently from the entrance

hall of the ‘Palazzo’ itself, becoming a private and securing entry. Needs to paint the premises.

Conclusion

Moreover, for all the premises, the implementation of security and home automation systems according to the latest

tech-nological standards all the area as well as the development of a sophisticated “landscape” and a botanical and

architectural intervention at the garden of the first floor.

Total amount: approximately EUR 2,000,000 with the ‘turn-key’ formula.


efurbishment project

The architects

Arch. Luisa Cortese

Via Tiraboschi n.8, Milano (MI)

The Architect Luisa Cortese has born in Turin on the 3rd of September 1956.She studied at the Faculty of Architecture in Florence and he graduated in

1978/79 with a thesis in urban planning "Dynamics of economic and popular building in Milan from 1945 to the present: analysis of a case history zone

(zone 18)." Since 1980 she is enrolled in the Professional Association of Architects planners, landscape architects and restorers of Milan and she works

as Architect at her own studio, specialized on public and private construction sectors. She lives in Milan with office in Via Tiraboschi n. 8 - 20135

Milan.She is dedicated to the development and construction of sports facilities projects, environmental restoration and urban renewal. In architectural

design she has paid special attention to the restoration and functional recovery of large portions of the urban fabric, in particular within the "Nucleus of

Ancient training" in Milan.Numerous interventions of "renovation" and of "new building" within the consolidated urban fabric but not only. She has

participated as consultant of the mayor Mr. Albertini to innovative drafting of the “Building Code of the City of Milan” (1998-1999).

The Architect Luisa Cortese is currently:

• Member of the Landscape of the City of Milan;

• Member of the Office of the CTS Territory and Urban Planning - Lombardy Region (2008);

• Representative of the Lombardy Region in the commission of the Prime Cup at the Milan Triennale (2007).

Among the most significant projects of Existing Heritage Recovery, Restoration, Conservative Restoration and Renovation, include:

• Tolcinasco Castle Golf Club, Milan 3;

• Villa Grimani Morosini Ca’ Della Nave Golf Club in Venice Martelago;

• Housing Development in Piazza Santo Stefano, Milan;

• Housing Development in Via Santa Maria Alla Porta 5, Milan;

• Cascina Merlata, Expo 2015, Milano;

• Complex Via Guastalla, Milan;

• Roman Amphitheatre Park, Milan;

Gaia Rebecchini

Born in Washington 1988, lives in Washington, Paris and Rome New York. Later she studies Architecture UE at the Uni-versity La Sapienza of Rome, with

academic year at the New York Institute of Technology, graduating in 2012. Inscribed to “Register of Architects of Rome and Province”, she works in the

field of architecture and exhibition.

Laura Mochi Onori

Born in Rome in 1986, she graduated in 2012 in Architecture UE at La Sapienza University of Rome, and specialized in Home Decoration at Central

Saint Martins in London. Inscribed to “Register of Architects of Rome and Province”, has worked with several architectural firms in Rome.

Alex Rossman

Is the founder & CEO of Metrostudio, an international marketing and design firm that specializes in the unique communi-cations and branding needs of the

real estate industry. Alex is a dynamic professional architect and entrepreneur with 17+ years’ experience in concept to completion of marketing strategies

for real estate developers, brokerage firms, architects and top designers.

Alex holds an Architecture & Urbanism degree from the University of Buenos Aires, he is a former faculty member at Pratt Institute in New York and

former Professor at the Art Institute of Miami.

“Metrostudio” is an international marketing and design firm that specializes in the unique communications and branding needs of the real estate industry.

At Metrostudio we deliver all the resources, talent, creativity, and strategy of boutique advertising agencies, but with a specialized focus aimed at

generating strong leads and sales within the competitive world of the real estate market. Some featured projects include: Chateau Beach Residences, Le Parc

at Brickell, Porsche DesignTower Miami, and Brickell Flatiron, among others.


efurbishment project

Total Investment Chart

TOTAL INVESTMENT CHART

Rennovation works

Furniture and Kitchens

Bathrooms

Kitchen Items

Bedroom and Bath Linen

Gym equipment

Welness & Spa

Common Space

TVs

Landscape Design

Total

$656.038,00

$602.718,00

$173.000,00

$94.736,00

$49.317,00

$118.311,00

$20.185,00

$20.138,00

$66.474,00

$267.973,00

$ 2.068.890,00


efurbishment project

Rennovation Works

Art.

1

Description

Garden Suite

Room

U.m.

Quant.

Price

Tot.Partial.Euro

Tot.Gen.Euro

1.1

Revision and Remake of the

plaster in damaged areas.

Entire apartment

sqm

1

25

25

1.2

Total bathroom renovation,

according to the project, hot

and cold water supply

connected to the boiler.

All that is needed for the

complete installation of the

bathroom equipment and its

water sockets. Including the

network of mechanical

ventilation supply and

installation of suitable

vacuum cleaners.

B1_first floor

B2_mezzanine

n

2

1.500

3.000

1.3

Renovation of the whole air

conditioning system

throughout the entire

building.

Entire apartment

a c.

1

25.000

25.000

1.4

Replacement of the brick

floor with the new one for

the middle and ground floor.

Dismantling of the old

flooring , supply and

installation of the new is

included.

Kitchen

sqm

118

180

21.240

1.5

Break down of 2 partitions

on the ground floor.

Kitchen

sqm

22

20

430

1.6

Waterproofing and

insulation of the cellar on

the ground floor.

Cellar

sqm

1

80

80

1.7

Opening for a door

connecting the ground floor

and SUB 2, including

demolition and supply of a

new frame in solid wood.

a c.

2.800

2.800

Total Garden Suite

52.575


efurbishment project

Art.

2

Description

Gym Garden Suite

Room

U.m.

Quant.

Price

Tot.Partial.Euro

Tot.Gen.Euro

2.1

Construction and renovation

of hygienic and sanitary

services for fitness and

relaxation to serve the

property SUB3.

Entire apartment

sqm

352

5.000

5.000

2.2

Air conditioning and heating

system suitable for the

above services.

a c.

34.496

34.496

2.3

Tempera painted ceilings and

veils including its preparation,

by shaving and primer :

for three hands to cover.

Entire apartment

sqm

36

18

648

2.4

Painting with water-based

paint for three hands to

cover the walls of existing

and th new, including

grouting, shooting sharp ,

shaving and preparation.

Entire apartment

sqm

1.056

20

21.120

Total Gym Garden Suite

61.264

3

Garden Suite Spa

3.1

Tempera painted ceilings and

veils including its preparation,

by shaving and primer :

for three hands to cover.

Entire apartment

sqm

36

18

648

3.2

Painting with water-based

paint for three hands to

cover the walls of existing

and th new, including

grouting, shooting sharp ,

shaving and preparation.

Entire apartment

sqm

100

20

2.000

3.3

Construction of heating and

cooling systems which allow

to use the area as a fitness

and relaxation area .

Entire apartment

sqm

36

98

3.528

Total Spa Garden Suite

6.176


efurbishment project

Art.

4

Description

Ambassador Suite

Room

U.m.

Quant.

Price

Tot.Partial.Euro

Tot.Gen.Euro

4.1

Painting with water-based

paint for three hands to

cover the walls of existing

and th new, including

grouting, shooting sharp ,

shaving and preparation.

Entire apartment

sqm

975

20

19.500

4.2

Painting of the walls of the

terrace above the master

bedroom.

Terrace

sqm

35

20

700

4.3

Opening for a door for the

spiral staircase, including

demolition and supply of a

new frame in solid wood.

a c.

2.800

2.800

4.4

Supply and installation of a

canalization system for air

conditioning with a single

engine and 6 machines.

Entire apartment

34.000

34.000

4.5

Realization of 2 Jacuzzis

with renovation of its

hyginic and sanitary

systems.

B1, B2

a c.

3.000

3.000

Total Ambassador Suite

60.000


efurbishment project

Art.

5

Description

Executive Suite

Room

U.m.

Quant.

Price

Tot.Partial.Euro

Tot.Gen.Euro

5.1

Revision and Remake of the

plaster in damaged areas.

Entire apartment

sqm

480

20

9.600

5.2

Tempera painted ceilings and

veils including its preparation,

by shaving and primer: for

three hands to cover.

Entire apartment

sqm

160

18

2.880

5.3

Painting with water-based paint

for three hands to cover the

walls of existing and th new,

including grouting, shooting

sharp , shaving and preparation.

Entire apartment

sqm

480

20

9.600

5.4

Floor Rennovation by the

supply of new fine wood

parquet with wide boards

(Listone Giordano) nailed

directly to the ground.

sqm

80

150

12.000

5.5

Rennovation of the bathrooms

by installation of a system that

allows jacuzzis.

B1, B2

n

2

1.000

2.000

5.6

Supply and installation of a

canalization system for air

conditioning with a single

engine and 4machines.

Entire apartment

a c.

15.000

15.000

Total Executive Suite

51.080

6

Attic and Spiral

staircase

6.1

Revision and rennovation of

plaster walls of the spiral

staircase of the terrace and the

attic.

Stair

sqm

500

20

10.000

6.2

Realization of 2 platform stair

lifts for spiral staircase with

radio-controlled electric motor.

Stair

a c.

40.000 To verify

Total attic and spiral staircase

50.000


efurbishment project

Art.

7

Description

Ambassador and

Executive Suite Gym

Room

U.m.

Quant.

Price

Tot.Partial.Euro

Tot.Gen.Euro

7.1

Revision and Remake of the

plaster in damaged areas.

Entire apartment

sqm

370

20

7.400

7.2

Adaptation of health services

for Fitness use.

Entire apartment

a c.

1.500

7.3

Opening for a door connecting

SUB 8, including demolition

ans supply of a new frame in

solid wood.

a c.

2,500

2.500

7.4

Mosaic cover for the precious

floor done with a shatterproof

glass/polycarbonate.

Entire room

sqm

55

240

13.200

Total Ambassador and

Executive Suites Gym

24.600

8

Ambassador and

Executive Suite Spa

8.1

Tempera painted ceilings and

veils including its preparation,

by shaving and primer : for

three hands to cover.

Entire room

sqm

61

18

1.098

8.2

Painting with water-based paint

for three hands to cover the

walls of existing and th new,

including grouting, shooting

sharp , shaving and preparation.

Entire room

sqm

180

20

3.600

8.3

Rennovation of hygenic and

sanitary systems which allow to

use the area as a fitness and

relaxation area.

Entire room

a c.

1

1.500

1.500

Total Ambassador and

Executive Suites Spa

6.198


efurbishment project

Art.

9

Description

Office

Room

U.m.

Quant.

Price

Tot.Partial.Euro

Tot.Gen.Euro

9.1

Supply and installation of

heating and conditioning

system.

Entire room

a c.

1.500

1.500

9.2

Tempera painted ceilings and

veils including its preparation,

by shaving and primer: for

three hands to cover.

Entire room

sqm

32

18

576

9.3

Painting with water-based paint

for three hands to cover the

walls of existing and th new,

including grouting, shooting

sharp, shaving and preparation.

Entire room

sqm

100

20

2.000

Total Office

150

12.000

4.076

10

Theater

10.1

Realization of professional

cinematographic system.

a c.

120.000

To verify

10.2

Total bathroom renovation,

according to the project, hot and

cold water supply connected to

the boiler. All that is needed for

the complete installation of the

bathroom equipment and its

water sockets. Including the

network of mechanical

ventilation supply and

installation of suitable vacuum

cleaners.

Underground

n

1

1.600

1.600

10.3

Other adjustments of security

systems.

a c.

3.500

3.500

Total Theater

125.100


efurbishment project

Art.

11

Description

Entrance

Room

U.m.

Quant.

Price

Tot.Partial.Euro

Tot.Gen.Euro

11.1

Tempera painted ceilings and

veils including its preparation,

by shaving and primer : for

three hands to cover.

Entire room

sqm

114

18

2.052

11.2

Painting with water-based paint

for three hands to cover the

walls of existing and th new,

including grouting, shooting

sharp , shaving and preparation.

Entire room

sqm

300

20

6.000

Total Entrance

8.052

12

Others

12.1

Supply of a new elevator with a

modern glass transparent door.

a c.

55.000

55.000

12.2

Implementation of security

systems and home automation

according to the most advanced

technological standards.

Entire building

80.000

80.000

N.B.

Further investigation is needed to verify more accurately some of the mentioned items.


efurbishment project

Furniture and Kitchens

Total Suites and Garden Suite

Rooms

Description

$Total Price

3 Suites

Garden Suite

199.533

Ambassador

Suite

280.357

Executive

Suite

122.828

Total supply of furniture and kitchens 602.718

Brand Name

N Description €UnitPrice

€Total Price

Master

Bedroom

Bedroom

Small

Bedroom

Entrance

Lobby

Lounge

Driade Neoz 1 King Size Bed 180x200 H200 (P.Starck) 4.404,00 4.404,00

Kartell Ghost 2 Bedside Tables 40 X 57 H X P.47 (P.Starck) 259,00 518,00

Flos Miss K 1 Table Lamps H 43.2 X Diam. 23.6 (P. Starck) 250,00 250,00

Cassina Sled 1 Desk By Dordoni 170 X42/60 H 65 3.015,00 3.015,00

Driade Neoz 1 Armchair 58 X57.5 X H 85 Tess. Cat.0 (P.Starck) 1.672,00 1.672,00

Flos Archimoon K 1 Table Lamp H. 57xdiam. 11 Cm 420,00 420,00

Flos Super Archimoon 1 Floor Lamp H. 214x L.242 X Diam. 55 Cm 6.900,00 6.900,00

Textile (Courtain 150 X300) 1.500,00 1.500,00

Cassina L22-l23 S.W.B. 1 King Size Bed 4.971,50 4.971,50

Cassina L22-l23 S.W.B. 1 Bedspread 805,20 805,20

Cassina L22-l23 S.W.B. 2 Bedside Dx, Sx With Drawer Oak Finish 1.104,10 2.208,20

Flos Romeo Soft 2 Lamps 1.049,20 2.098,40

Tog Light Rock 1 Armchiar 83x71,5, H. 102 Cm 671,00 671,00

Flos Romeo Soft 1 Floor Lamp H160 X Diam. 50 Cm (P. Starck) 1.250,00 1.250,00

Textile (Courtain 150 X300) 1.500,00 1.500,00

Poliform Bangkok 1 Wardrobe* (L. 292xh. 259 Cm) 12.612,00 12.612,00

Poliform Graffiti 1 Wardobe*(L. 292xh. 259 Cm) 8.708,00 8.708,00

Cattelan Westin 1 Extraclear Glass Consolle 160x45xh.76 Cm 1.621,38 1.621,38

Kartell La Boheme 2 Stools Diam.33 H. 46 Cm 157,38 314,76

Driade Kosmo Egeso 5 Mirror Egeso Driade Kosmo 1.835,00 9.175,00

1 "L" Wadrobe 2.00x1.00m H 3.00 5.000,00 5.000,00

Cassina Lady 720 2 Armchiar "Lady 720" Cassina Marco Zanuso 3.490,00 6.980,00

Icon Edition

B&b Mera 1 Coffe Table With Glossy 2.108,00 2.108,00

Chrome Base And White Carrara Marble Top

D=90 H. 40cm

Flos Arco 1 "Arco Di Castiglioni "Lamp 1.950,00 1.950,00

Maxalto Pathos 1 Chromed Framed Consolle Glossy Laquered 3.052,00 3.052,00

Finish 150x45x H.73 Cm


efurbishment project

Garden Suite

Rooms

Brand Name N Description €UnitPrice

€Total Price

Small

Bedroom

Living

Room

Dining

Room

Kitchen

Flou Plaza 2 Twin Bed With Adjustable Slats 2.450,00 4.900,00

(Dim. Mattress 100 X200)

Dim. 109 X227 H 44/118 O 143

Kartell Ghost 2 Clear Bedside Tables 40x37xh.57 Cm 259,00 518,00

Flos Chapo 2 Bedside Lamps H. 40 Cm 360,00 720,00

Textile (Courtain 150 X300) 1.500,00 1.500,00

Driade Neoz 2 Sofa 146x82xh.85 Cm With 5 Cushions 5.343,60 10.687,20

Driade Neoz 1 Sofa 206x82xh.85 With 5 Cushions 7.057,70 7.057,70

Cattelan Dielle 1 Coffe Table 100x100cm 1.137,00 1.137,00

Kartell Top Top 2 Table Diam.60 H. 72 Cm 382,00 764,00

A.B.C. Gio Ponti Carpet 1 Carpet Dim 200 X300 4.000,00 4.000,00

Textile (Courtain 200 X300) 1.500,00 1.500,00

Flos Table Gun 2 Table Lamp H.92,4 Cm, Diam. 51 Cm Chrome 1.890,00 3.780,00

Poliform Wall System 1 Wall Bookcase And Tv L 260 H210 6.000,00 6.000,00

Driade Neoz 1 Table With Marble Top 210x90 Cm 3.825,00 3.825,00

Driade King Costes 12 Chairs 50,5x57x H.81 Cm 1.070,00 12.840,00

Cattelan Hilton 1 Extraclear Gloss Madia H74x184 3.500,80 3.500,80

A.B.C. Gio Ponti Carpet 1 Carpet Dim 200 X300 4.000,00 4.000,00

Textile (Courtain 200 X300) 1.500,00 1.500,00

Driade Kosmo 3 Vases "Kosmo" Driade 175,00 525,00

Flos Cicatrices De Luxe 8 1 Chandelier H. 120/150 Cm 4.950,00 4.950,00

Driade Kosmo 2 Candelabra "Kosmo" Driade 877,00 1.754,00

1 Varenna Kitchen * 14.080,00 14.080,00

4 Stool - H 76 Cm - Emeco Des.p.s. 1.086,00 4.344,00

Total

€ 177.587,14

* Kitchen with glossy lacquered doors, stainless steel top, sink with 1 welded tank in the top, stainless steel back, lights,

composed by: 1 removable sink base 60 cm, 1 dishwasher Miele, 1 oven base Foster, 1 base with two drawers ad one extractor,

1 Miele fridge/freezer, 1 dish drainer wall unit, 1 cabinet kitchen hood, 2 cabinets with swing doors, 1 New Form mixer, 1

Foster induction hob, 1 cutlery tray, 1 waste bins (300x60x H. 208 cm).


efurbishment project


Garden Suite

refurbishment project


efurbishment project

Ambassador Suite

Rooms

Brand Name N Description €UnitPrice

€Total Price

Master

Bedroom

Bedroom

Small

Bedroom

Studying

room

near

bedrooms

Driade Neoz 1 King Size Bed 180x200 H200 (P.Starck) 4.404,00 4.404,00

Flou Mattress 1 Matress Dim. 180 X200 1.785,00 1.785,00

Adaptive H 22

Kartell Ghost 2 Bedside Tables 40 X 57 H X 47, (P.Starck) 259,00 518,00

Flos Miss K 1 Table Lamp H 43.2 X Diam. 23.6 (P. Starck) 250,00 250,00

Cassina Sled 1 Desk By Dordoni 170 X42/60 H 65 3.015,00 3015,00

Driade Neoz 1 Armchair 58 X57.5 X H 85 Tess. Cat.0 (P.Starck) 1.672,00 1672,00

Flos Arkimoon K 1 Table Lamp H. 57xdiam. 11 Cm 420,00 420,00

Flos Super Archimoon 1 Ground Lamp H. 214x L.242 X Diam. 55 Cm 6.900,00 6.900,00

1 Textile (courtain 150 x300) 1.500,00 1500,00

Poliform Bangkok 1 Wardrobe * 12.612,00 12.612,00

Minotti Powel Bed 1 Bed King Size 206x224 Cm, Cat. G 6.405,00 6405,00

Flou Mattress 1 Dim. 180 X200 1.785,00 1.785,00

Adaptive H 22

Kartell Ghost 2 Bedside Tables Trasparent 40x37xh.57 Cm 259,00 518,00

Flos Romeo Soft T1 2 Bedside Lamps H 67, Diam. 34 Cm 698,00 1.500,00

Maxalto Recipio '14 1 Desk With Drawer With Shellac Finish Dim 130 X60 3.712,00 3.712,00

Cassina Caprice 1 Leather Chair Cat. Y 909,00 909,00

Flou 1 Tessile Set Biancheria Letto 1.500,00 1.500,00

(Piumino, Copripiumino, Federe Guanciali, Sotto Teso)

Poliform Graffiti 1 Wardrobe * 8.708,00 8.708,00

Flou Plaza 2 Twin Bed With Adjustable Slats 2.450,00 4900,00

(Dim. Mattress 100 X200)

Dim. 109 X227 H 44/118 O 143

Flou Matress Adaptive 2 Matress Dim. 100 X200 1.070,00 2.140,00

Kartell Ghost 1 Clear Bedside Tables 40x37xh.57 Cm 259,00 259,00

Kartell Light Air 1 Table Lamp H 32 X 17 X14 162,00 162,00

Poliform Graffiti 1 Wardrobe * 8.708,00 8.708,00

1 Textile (Courtain 150 X300) 1.500,00 1.500,00

Cattelan Qwerty 1 Desk 120x72 Cm 1.310,00 1.310,00

Cassina Caprice 1 White Leather Chair Cat. Y 909,00 909,00

Flos Ara' 1 Table Lamp Diam. 17,5xh. 56,5 Cm 650,00 650,00

Cassina 212 L.W.S. 1 Armchair Sheathing Cat. L 4.130,00 4.130,00

Kartell Ghost Buster 2 Box 68 X 42 X H80 695,00 1.390,00

A.B.C. Gio Ponti Carpet 1 Carpet Dim 200 X300 4.000,00 4.000,00

1 Textile (courtain 150 x300) 1.500,00 1.500,00


efurbishment project

Ambassador Suite

Rooms

Brand Name N Description €UnitPrice

€Total Price

Entrance

Lounge

Living

Room

Living

Room

Dining

Room

Maxalto Pathos 1 Chromed Framed Consolle Glossy Laquered Finish 3.052,00 3052,00

150x45x H.73 Cm,

Dedon Play 1 Floor Lamp "Play With Dedon" Philippe Starck 9.785,00 9.785,00

Fiam Caadre 1 Mirror "Caadre" Fiam Philippe Starck 155x76 1.680,00 1.680,00

Kartell Uncle Jack 1 Small Sofa 190x75xh.99 Cm In Tranparent Polycarbonate 1.025,00 1.025,00

Driade Costes 2 Small Armchairs "Costes" Driade Philippe Starck 902,80 1.805,60

Kartell Abbraccio 2 Candelabra Polished Chrome Finish 20x11xh.25 Cm 139,00 278,00

A.B.C. Gio Ponti Carpet 1 Carpet Dim 200 X300 4.000,00 4.000,00

Cassina Lazy Working Sofa 1 Sofa With Ground Plane Sx And Dx 9.570,00 9.570,00

(280x128xh.53/87) Cat. 0

With 4 Cushions 55x55 Cm Cat. 0

Dedon Play 1 Lampada Da Terra "Play With Dedon" 9.785,00 9.785,00

By Philippe Starck

Kartell La Boheme 4 Clear Stools Diam. 34xh.46 Cm 129,00 516,00

A.B.C. Gio Ponti Carpet 1 Carpet Dim 200 X300 4.000,00 4.000,00

1 Textile (Courtain 150 X300) 1.500,00 1.500,00

Cassina My World 244 31 1 Sofa With Two Armrests "240", Fabric Cat. 0 7.810,00 7.810,00

With 4 Cushions

Cassina My World 244 31 2 Sofa 240x95xh47/80 With 2 Armrests, Fabric Cat. 0 7.810,00 15.620,00

With 4 Cushions

Driade Lou Read 2 Poltrone 70x76xh.120 Cm, Pelle Cat. Z 6.244,70 12.489,40

Cassina Mex 1 Transparent Glass Coffe Table 108x36xh. 24 Cm, 760,00 760,00

With White Painted Base

A.B.C. Giò Ponti Carpet 1 Carpet Dim 200 X300 4.000,00 4.000,00

1 Textile (Courtain 150 X300) 1.500,00 1.500,00

Kartell Tip Top Mono 2 Side Table By P.S. Diam. 48 H 51 (White Or Black) 172,00 344,00

Flos Romeo Soft T1 2 Bedside Table Lamps H 67, Diam. 34 Cm 698,00 1.396,00

Kartell La Boheme 2 Orange Stools Diam. 34xh.46 Cm 129,00 258,00

Cattelan Valentinox 1 Consolle Dim 250 X 50 H 75cm 2.200,00 2.200,00

Driade

Kosmo Wells Ii E Wells Iii 2 Glass By Boris Sipek 660,00 1.320,00

Xo Oreil Qui Voit 5 Mirror "Oreil Qui Voit" By Philippe Starck

(Various Dimensions) 2.000,00 10.000,00

Cattelan Carioca 1 Table " Carioca" Cattelan Andrea Lucatello 2.690,00 2.690,00

300x120

Cassina Caprice 1 White Leather Chair Cat. Y 909,00 909,00

1 Textile (Courtain 150 X300) 1.500,00 1.500,00

A.B.C. Gio Ponti Carpet 1 Carpet Dim 200 X300 4.000,00 4.000,00

Flos Skygarden 1 2 Golden Pendant Lamps Matt Diam. 60 Cm 1.870,00 3.740,00


efurbishment project

Ambassador Suite

Rooms

Brand Name N Description €UnitPrice

€Total Price

Service

Room

Breakfast

Room

Kitchen

Flou Plaza 2 Twin Bed With Adjustable Slats 2.450,00 4900,00

(Dim. Mattress 100 X200)

Dim. 109 X227 H 44/118 O 143

Flou Adaptive 2 Dim. 100 X200 1.070,00 2140,00

Kartell Ghost 1 Clear Bedside Tables 40x37xh.57 Cm 259,00 259,00

Flos Miss K 1 Table Lamp H 43.2 X Diam. 23.6 (P. Starck) 250,00 1.500,00

1 Textile (Courtain 150 X300) 3.000,00 3.000,00

Lema 1 L Wardrobe 2.00x H 260 3.000,00 3.000,00

Driade Cugino 1 Table D=120 H 72; 1.732,00 1.732,00

With Steel Base Painted Anthracite;

Tempered Glass Top 12mm; E.Mari

Driade Lago' 6 Sedie "Lagò" By P. Starck in Vari Colori 610,00 3.660,00

1 Varenna 1 Kitchen* 14.080,00 14.080,00

Emeco 4 Stool - H 76 Cm - Emeco Des.p.s. 1.086,00 4.344,00

total

€250.319,00

* Wardrobe with leather-panelled sliding doors, oak interior, with 3 shelves, 1 chest of drawers 4 drawers, glass front, 5 coat

hook and lights (L. 292xh. 259 cm).

* Kitchen with glossy lacquered doors, stainless steel top, sink with 1 welded tank in the top, stainless steel back, lights,

composed by: 1 removable sink base 60 cm, 1 dishwasher Miele, 1 oven base Foster, 1 base with two drawers ad one extractor,

1 Miele fridge/freezer, 1 dish drainer wall unit, 1 cabinet kitchen hood, 2 cabinets with swing doors, 1 New Form mixer, 1

Foster induction hob, 1 cutlery tray, 1 waste bins (300x60x H. 208 cm).


Ambassador Suite

refurbishment project


efurbishment project


Ambassador Suite

refurbishment project


efurbishment project

Executive Suite

Rooms

Brand Name N Description €UnitPrice

€Total Price

Closet

Small

Kitchen

open

on the

living

Room

Bedroom

Bedroom

Poliform Bangkok 1 Wardrobe with leather-panelled sliding doors, 12.612,00 12.612,00

oak interior, with 3 shelves, 1 chest of drawers,

4 drawers, glass front, 5 coat hook and lights

( 292xh. 259 cm)

Poliform Graffiti 1 Wardrobe with leather-panelled sliding doors, 8.708,00 8.708,00

oak interior, with 3 shelves, 1 chest of drawers,

4 drawers, glass front, 5 coat hook and lights

(292xh. 259 cm)

Varenna Matrix 1 Kitchen with glossy lacquered doors,

stainless steel top, sink with 1 welded tank in the top, 17.080,00 17.080,00

stainless steel back, lights, composed by:

1 removable sink base 60 cm,

1 dishwasher Miele, 1 oven base Foster, 1 base

with two drawers ad one extractor,

1 Miele fridge/freezer, 1 dish drainer wall unit,

1 cabinet kitchen hood, 2 cabinets with swing doors,

1 New Form mixer, 1 Foster induction hob,

1 cutlery tray, 1 waste bins (300xD. 60x H. 208 cm )

Emeco Icon by Stark 4 Stool polished- 40x54x h. 75/106 cm 1.716,00 6.864,00

Cassina Volage 1 King Size Bed, headboard h 190 cm, leather coating cat.O 9.530,00 9.530,00

Cassina Romeo 2 Appliques "Romeo"for Volage 330,00 660,00

Per Letto Volage

Cassina Comodini 2 Crystal bedsides 33x.33XH. 57 cm 835,00 1.670,00

per Letto Volage

Flos Romeo Soft 1 Floor lamp mod Piantana 50 H. 160 cm 1.230,00 1.230,00

Maxalto Sidus 1 Dark stained oak desk 110x.46 2.822,00 2.822,00

Cassina Passion 1 Armchair with conchrome legs scotland 1.220,00 1.220,00

quilted leather, leather shell 58x57xH.45/79 cm

A.B.C. Gio' Ponti Carpet Carpet 300x200 cm 4.000,00 4.000,00

1 Courtain 150x200 cm 1.008,00 1.008,00

Cassina L22/L23 1 King Size Bed fabric coating, wired + bedsides dx e sn 4.380,00 4.380,00

with drawers maple finish +2 "Romeo Soft" T1 by Flos

Cassina Top 1 Maple top 1.085,00 1.085,00

Cassina 2 Bedsides with drawers maple finish 1.085,00 2.170,00

Cassina Romeo Soft By Flos 2 Table lamp 867 1.734,00

Flos Romeo Soft 4 Floor Lamp diam. 50 H. 160 cm 1.230,00 4.920,00

Fiam Caadre 1 Mirror.105XH.195 cm 2.350,00 2.350,00

Kartell Heros 1 Chair with chrome base 62X79XH.70cm 308,00 308,00

A.B.C. Gio' Ponti Carpets 1 Carpet 300x200 cm 4.000,00 4.000,00

1 Courtain 150x200 cm 1.008,00 1.008,00


efurbishment project

Executive Suite

Rooms

Brand Name N Description €UnitPrice

€Total Price

Living

Room

Living

Room

Cassina Mister 1 Sofa, with feather padding and fabric, 234x104 7.502,00 7.502,00

Cassina Mister 2 Cushion fabric 45x37 cm 340,00 680,00

Cassina Mister 2 Cushion fabric 62x62 cm 495,00 990,00

Cassina Passion 2 Armchair with wood legs and leather coating cat. O, 690,00 1.380,00

58x57xH. 79

Kartell Top top 1 Square table 130x130 cm 2.080,00 2.080,00

Tog Saint John 6 Chair not yet in production cost indicative 1.000,00 6.000,00

With Steel Base Painted Anthracite;

Dedon Rayan 1 Coffe table 88x88 H. 25 cm 1.720,00 1.720,00

Dedon Rayan 1 Coffe table 176x88 H. 25 cm 2.825,00 2.825,00

Flos Biblioteque National 2 Floor lamp 40 h. 150 cm 1.650,00 3.300,00

A.B.C. Gio' Ponti Carpets 1 Carpet 300x200 cm 4.000,00 4.000,00

1 Courtain 150x200 cm 1.008,00 1.008,00

total

€109.311,00


efurbishment project


Executive Suite

refurbishment project


efurbishment project

Bathrooms

Rooms

Description

um

n

$UnitPrice

$Total Price

3 Suites

Full

bathrooms

n 9

17,667.00 158,996,00

Half

bathrooms

n 2

7,074.00 14,137.00

Total bathrooms supply 173,000.00

Description

um

n

€UnitPrice

€Total Price

Full

Bathroom

Globo Forty 3 Wc Wall-hung 57x36 n 1 360,00 360,00

Globo Forty 3 Bidet Wall-hung 57x36 n 1 360,00 360,00

Globo

Forty 3 Wc Cover

n 1

128,00 128,00

Punto Tre Furniture With Double Mirrored Cabinet n 1 3.250,00 3.250,00

Novellini Nexis A 100x80 Hammam n 1 5.943,00 5.943,00

Eiffelgres Floor And Wall Coating 30x60 Mq. 25 65,00 1.625,00

Capannoli

Sink Towels Hanger

n 1

79,00 79,00

Capannoli

Roll Holder

n 1

39,00 39,00

Capannoli

Brush Holder

n 1

75,00 75,00

Capannoli

Hanger

n 1

22,00 22,00

Capannoli Bidet Towels Hanger n 1 70,00 70,00

Geda Sink Mixer Polished Stainless n 2 312,00 624,00

Geda Bidet Mixer Polished Stainless n 1 312,00 312,00

Total

Price + Vat ( 2.835,14) 15.722,14

Half

Bathroom

Globo Forty 3 Wc Wall-hung 57x36 n 1 360,00 360,00

Globo

Forty 3 Wc Cover

n 1

128,00 128,00

Punto Tre Furniture With Mirrored Cabinet n 1 2.450,00 2.450,00

Eiffelgres Floor And Wall Coating 30x60 Mq. 25 65,00 1.625,00

Capannoli

Sink Towels Hanger

n 1

79,00 79,00

Capannoli

Roll Holder

n 1

39,00 39,00

Capannoli

Brush Holder

n 1

75,00 75,00

Capannoli

Hanger

n 1

22,00 22,00

Capannoli Bidet Towels Hanger n 1 70,00 70,00

Geda Sink Mixer Polished Stainless n 1 312,00 312,00

Total

Price + Vat ( 1.135,20) 6.295,20

N.b. By "Full bathroom" it is considered: the complete supply of furniture, including toilet and bidet, double sink with

suspended cabinet and mirror cabinet, shower/sauna, faucets and bathroom accessories, lighting, floor and wall coatings.

N.b. By "Half bathroom" it is considered: the complete supply of furniture, including toilet, sink with suspended cabinet

and mirror cabinet, faucets and bathroom accessories, lighting, floor and wall coatings.


efurbishment project

Kitchens

Description

n

$UnitPrice

$Total Price

Complete Set Of Professional Cooking Pots 4 1,442.00 5,768.00

Complete Set Of Professional Cooking Tools 4 1,103.00 4,412.00

Complete Set of Plates Glasses and Silverware n. 12 pax 4 19,893.00 79,572.00

Tablecloths and napkins n. 12 pax 8 630.00 5,040.00

Total

kitchen items supply

94,792.00

Firm

Code Description q

€Price

Sambonet

Lagostina

R.Ginori

Baccarat

Sambonet

Love Tiffani

Menù

battery pots 23 pcs 1

1.283,00

I Cucinieri set 67 pcs kitchenware 1 982,00

Giò Ponti service plates 53 pcs 1 4.285,00

"Catena o Labirinto" coffee service 15 pcs 1 1.807,00

the

service 15 pcs 1

1.949,00

Vega 1365102 water glass 12 1.560,00

Vega 1365103 wine glass 12 1.560,00

Vega 1365109 flut 12 1.560,00

Giò Ponti silverplated flatware 75 pcs 1 3.097,90

table

fork

12

418,80

teaspoon mocha 12

250,80

fish fork

12

418,80

fish knife

12

418,80

dessert

fork

12

378,00

Country Cream 8826635 tableclot cm.175x280 2 320,00

towel

24

240,00

Total € 20.529,10


efurbishment project

Bedrooms and Bath Linens

Rooms

Description

um

q

$UnitPrice

$Total Price

Executive

suite (4 pax)

Garden

suite (6 pax)

Ambassador

suite (5 pax)

N.B.

3 Suites

N.B.

Spa and gym

Complete

Set King Size Bed

n 3

1,170.00 3,510.00

Complete

Set Twin size Bed

n 6

867.00 5,202.00

Complete

Set King Size Bed

n 6

1,170.00 7,020.00

Complete

Set Twin size Bed

n 6

867.00 5,202.00

Complete

Set King Size Bed

n 6

1,170.00 7,020.00

Complete

Set Twin size Bed

n 3

867.00 2,601.00

The Complete sets include: bed sheets, pillow cases, duvet covers, duvets 100% goose feathers cushions in 100% goose feathers.

Complete set of personalized bathroom towels n 30 377.00 11,310.00

The complete Bathroom sets include: Personalized Bathroom towels in Natural Sponge.

Complete Set Wellness Towels n 30

75.00 2,250.00

Total

bed linen supply

49,317.00

Description

um

q

€UnitPrice

€Total Price

Executive

Suite

Garden

Suite

1 King size Bed

Top sheet

2

158,00 316,00

Bottom fitted sheet

2

103,00 206,00

Pillow cases

8

45,00 360,00

Duvet

cover

2

250,00 500,00

Duvet 100% goosedown gr. 100/mq cm. 250x215 1 238,00 238,00

Pillow cases 100% goosedown

4

28,00 112,00

2 Single Beds

Top sheet

4

120,00 480,00

Bottom fitted sheet

4

66,00 264,00

Pillow cases

8

45,00 360,00

Duvet

cover

4

190,00 760,00

Duvet 100% goosedown gr. 100/mq cm. 155x215 2 159,00 318,00

Pillow cases 100% goosedown

4

28,00 112,00

2 King Size Beds

Top sheet

4

158,00 632,00

Bottom fitted sheet

4

103,00 412,00

Pillow cases

16

45,00 720,00

Duvet

cover

4

250,00 1.000,00

Duvet 100% goosedown gr. 100/mq cm. 250x215 2 238,00 476,00

Pillow cases 100% goosedown

8

28,00 224,00


efurbishment project

Rooms

Description

q

€UnitPrice

€Total Price

Garden

Suite

Ambassador

Suite

2 Single Beds

Top sheet

4

120.00 480,00

Bottom fitted sheet

4

66.00 264,00

Pillow cases

8

45.00 360,00

Duvet

cover

4

190.00 760,00

Duvet 100% goosedown gr. 100/mq cm. 155x215 2 159,00 318,00

Pillow cases 100% goosedown

4

28,00 112,00

2 King size Beds

Top

sheet

4

158,00 632,00

Bottom fitted sheet

4

103,00 412,00

Pillow cases

16

45,00 720,00

Duvet

cover

4

250,00 1.000,00

Duvet 100% goosedown gr. 100/mq cm. 250x215 2 238,00 476,00

Pillow cases 100% goosedown 8 28,00 224,00

1 Single Bed

Top sheet

2

120,00 240,00

Bottom fitted sheet

2

66,00 132,00

Pillow cases

4

45,00 180,00

Duvet

cover

2

190,00 380,00

Duvet 100% goosedown gr. 100/mq cm. 155x215 1 159,00 159,00

Pillow cases 100% goosedown

2

28,00 56,00

Bathrooms

Spa and Gym

White terry cloth towel cm. 150x130 30 43,00 1.290,00

White terry cloth towel cm. 110x60 30 28,00 840,00

White terry cloth towel cm. 60x40 30 16,00 480,00

White terry cloth towel cm. 30x30 (face towel) 30 9,00 270,00

White terry cloth bath mat cm. 60x90 15 50,00 750,00

White terry cloth bathrobe size L 15 95,00 1.425,00

White terry cloth bathrobe size M 15 95,00 1.425,00

Spa x 9

White terry cloth towel cm. 150x100 18 40,00 720,00

White

towels cm. 70x40

18

18,00 324,00

Lavette

towels 30x30

18

9,00 162,00

Spa x 6

White

towels. 150x100

12

40,00 480,00

White terry cloth towel cm. 70x40 12 18,00 216,00

White terry cloth towel cm. 30x30 (face towel) 12 9,00 108,00

Total


22.885,00


efurbishment project

Gym Equipment

Rooms

Description

um

q

$Total Price

Executive and Ambassador suite

Complete

Gym Furniture

mq 55

70,348.00

Garden suite

Complete

Gym Furniture

mq 36

47,905.00

T otal gym supply

118,253.00

€ Total Price

Executive

and

Ambassador

Suite

T echnoGym Treadmill Standard

n. 1

Cardio Line 16.240,00

TechnoGym Vario Standard n. 1 Cardio Line 11.990,00

TechnoGym Recline n. 1 Cardio Line 7.890,00

Technogym Rubber Mat n. 4 Strength Line 120,00

Technogym Plurima Wall n. 1 Strength Line 10.490,00

Technogym Crunch Bench n. 1 Strength Line 1.040,00

Technogym Adjustable Bench n. 1 Strength Line 750,00

Technogym Rack n. 1 Strength Line 590,00

Total

Items

50.360,00

Delivery and Installation

971,12

Total

+ vat

62.623,97

Garden

Suite

Technogym Run machine 700

n. 1

Cardio Line 9.517,00

Technogym Recline 700

n. 1

Cardio Line 6.775,00

Technogym Cross 700

n. 1

Cardio Line 8.691,00

Technogym Rubber Mat

n. 1

Strength Line 30,00

Technogym Wellness Rack

n. 1

Strength Line 560,00

Vision Kinesis Vision

n. 1

Kinesis 8.056,00

Total

Items

33.609,00

Delivery and Installation

1.325,91

Total

+ vat

42.644,99


efurbishment project

Wellness and Spa

Description

um

q

$Unit Price

$Total Price

Executive and Ambassador suite

mq 38

Beauty Bed

2

5,043.00 10,089.00

Garden suite

mq 36

Beauty Bed

2

5,043.00 10,089.00

Total

spa supply

20,178.00

N.B.

The selected beauty beds, model Gemya EVO brand Lemi Starpool, have been chosen for their pleasing aspect considering

their use of a suite.


efurbishment project

Common Space

Description

um

q

$Total Price

Pool Table Restaldi Mod. Palatino

For American Pool (254x127cm) n. 1 10,561.00

Theater

seatings

n. 15

9,570.00

Total

20,131.00

Pool Table Details

Pool Table Restaldi Mod. Palatino For American Pool 100% Made In Italy Game Lamp Cm 254x127,

For Competitions Total Measurments - Cm 289x162 - 9’ft - Wood Color At Your Choice -

Custom (Customized Pool Tables) Grinding Centesimal Game Plan - Unique In The World

Game utilities included: (Pictures on: www.giochi.restaldi.com).

1 Pool cues holder, same color.

4 Pool cues

1 Pebbles set Pool Aramith S. diam. Mm. 57,2

1 Wood triangle

1 box of chalks. Six cubes

1 Bridge

1Brush

1 Pool table cover

Total 9.400,00

€Unit Price

€Total Price

Theater details

S eat Holly 1

n. 20

251,90 5.038,00

Straight

Armrest Holly 2

n 25

72,60 1.815,00

Magazine

Rack Holly 4

n 10

15,80 158,00

Total

7.011,00

Discount

- 361,00

Transportation Costs

332,00

Total

6.982,00


efurbishment project

Tv’s

Rooms

Description

um

q

$Unit Price

$Total Price

Executive

Suite

Garden

Suite

Ambassador

Suite

Smart tv 55” mod. Samsung Smart TV - 55h6670szxzt n. 2 1,488.00 2,976.00

Smart tv 85” mod. Samsung - Qm85d monitor led 85” lh85qmdplgc/en n. 1 12,012.00 12,012.00

Smart tv 55” mod. Samsung Smart TV - 55h6670szxzt n. 2 1,488.00 2,976.00

Specchio Cadre TV / Televisore -

Schermo lcd 42” sony integrato - 155 x 140 cm - fiam n. 1 7,666.00 7,666.00

Smart tv 85” mod. Samsung qm85d monitor led 85” lh85qmdplgc/en n. 1 12,012.00 12,012.00

Smart

tv 55” mod. Samsung smart tv - 55h6670szxzt

n. 1

1,488.00 1,488.00

Specchio caadre tv / televisore - schermo lcd 42” sony integrato - n. 2 7,666.00 15,332.00

155 x 140 cm - fiam

Smart tv 85” mod. Samsung qm85d monitor led 85” lh85qmdplgc/en n. 1 12,012.00 12,012.00

Total TV's supply 66,474.00


efurbishment project

Landscape Design

Rooms

Description

um

n

$Total Price

Garden

Suite

Ambassador

Suite

Rooftop

Fully furnished garden, with construction of a sophisticated mq 200

140,445.00

and appropriate intervention of landscape green design.

Complete

terrace 1 furniture

mq 37

34,403.00

Complete

terrace 1 furniture

mq 9

12,191.00

Complete

Rooftop furniture

mq 90

80,934.00

Ambassador Terrace 1

Total

landscape supply

267,973.00

The complete landscape design furniture includes: plants shrubs and garden irrigation system.

The complete garden furniture includes the following elements: tall trees, furniture and garden irrigation system.

Description Code q €UnitPrice €Total Price

Complementary Furnishing

Tuscan Terracotta Vases terraetrusca 70 9 299,00 2.691,00

Tuscan Terracotta Vases terraetrusca 82 5 299,00 1.495,00

Tuscan Terracotta Cones terraetrusca 0,75 5 383,00 1.915,00

Soil for pot 80 lt. 55 9,00 495,00

Expanded

clay

big

8

14,00 112,00

Toothsie

in terracotta

terraetrusca

76

3,00 228,00

Total

6.936,00

Plants

Eugenia

M. Newport

Ø 32

18

65,00 1.170,00

Punica

G. Wonderful

Ø 62

2

850,00 1.700,00

Citrus

L. 4 Seasons

Ø 62

3

420,00 1.260,00

Mediterranean plants*

Ø 30

5

35,00 175,00

Battery irrigation system Price-to-hand 1 2.000,00 2.000,00

Total

6.305,00

Furnishing Elements

Table

armchairs

Metal

9

195,00 1.755,00

Patio umbrella 4x3 Lateral support 1 1.900,00 1.900,00

salotto

Wicker L.

1

5.600,00 5.600,00

Chaise

longue

Metal

2

370,00 740,00

* Lavandula, Helichrysum, Rosmarino, Salvia

Total 9.995,00


efurbishment project

Landscape Design

Ambassador Terrace 1

$Total Price

Ambassador Terrace 2

Total

supplies

23.236,00

Carriages

800,00

Manpower

3.980,00

Lighting

2.600,00

Total

Terrace Ambassador 1

30.616,00

Description Code q €UnitPrice €Total Price

Complementary Furnishing

Tuscan Terracotta Vases terraetrusca 77 2 299,00 598,00

Tuscan Terracotta Vases terraetrusca 37H 2 310,00 620,00

Tuscan Terracotta Cones terraetrusca 0,75 3 383,00 1.149,00

Soil

80 Lt.

24

9,00 216,00

expanded

clay

big

3

14,00 42,00

T oothsie in Terracotta

terraetrusca

28

3,00 84,00

Total

2.709,00

Plants

Phillostachys.

X Bamboo Ø 32

4

65,00 260,00

Abelia

G.

Ø 24

2

30,00 60,00

Mediterranean plants

Ø 30

3

35,00 105,00

Battery Irrigation System Price-to-Hand 1 900,00 900,00

Total 1.325,00

Furnishing Elements

armchair

58

metal

3

195,00 585,00

Patio Umbrella 3x3 retractable lateral support 1 1.900,00 1.900,00

Round

table metal

1

960,00 960,00

chaise

longue

metal

1

370,00 370,00

Total 3.815,00

Total supplies 7.849,00

Carriages 400,00

Manpower 1.800,00

Lighting 800,00

Total

Terrace Ambassador 2

10.849,00


efurbishment project

Landscape Design

Common Rooftop Terrace

Description Code q €UnitPrice €Total Price

Complementary Furnishing

Tuscan Terracotta Vases Terraetrusca 77 26 285,00 7.410,00

Tuscan Terracotta Vases Terraetrusca 90H 3 310,00 930,00

Tuscan Terracotta Vases Terraetrusca 90 3 269,00 807,00

Tuscan Terracotta Cones Terraetrusca 0,75 8 383,00 3.064,00

Border

Vases

Terracotta 60

8

399,00 3.192,00

Soil

for pot 80 Lt.

160

9,00 1.440,00

Expanded

clay

big

20

14,00 280,00

Toothsie in terracotta terraetrusca 170 3,00 340,00

Total

17.463,00

Plants

Phyllostachys

X. Bamboo Ø 60

16

65,00 1.040,00

Punica

G. Wonderful

Ø 62

1

850,00 850,00

Citurs

L. 4 Seasons

Ø 62

4

420,00 1.680,00

Mediterranean Plants

Ø 30

8

35,00 280,00

Viburnum Lucidum T.

Ø 30

20

48,00 960,00

Eugenia

M. Newport

Ø 32

36

65,00 2.340,00

Battery Irrigation System Price-to-hand 1 2.800,00 2.800,00

Total

9.950,00

Furnishing Elements

Table

Armchairs 58

metal

9

195,00 1.755,00

tavoli

ovali

metal

3

946,00 2.838,00

Patio Umbrella 3,5 x 7,0 V lateral Side Support 1 3.650,00 3.650,00

Patio Umbrella 4,0 X 8,0 V lateral Side Support 1 4.150,00 4.150,00

sofa

rattan

1

2.800,00 2.800,00

sofa

Wicker L.

1

5.600,00 5.600,00

Table

metal

1

6.250,00 6.250,00

Table

Armchairs 58

metal

14

195,00 2.730,00

chaise

longue

metal

2

370,00 740,00

Total

30.513,00

Total supplies 57.926,00

Carriages 1.200,00

Manpower 8.300,00

Ligthing 4.600,00

Total common Terrace 72.026,00


efurbishment project

Landscape Design

Garden

Description Code q €UnitPrice €Total Price

Complementary Furnishing

Flooring cubes porfyry 10x

finished in Trani stone Porfyry 10X 135,00 18.900,00

Tuscan Terracotta Vases terracotta 90 14 310,00 4.340,00

Tuscan Terracotta Cones terracotta h 0,75 6 383,00 2.298,00

Tuscan Terracotta Vases terracotta 60 48 399,00 19.152,00

Soil

acid soil 50 lt

90

9,00 810,00

Soil

soil for pot 80 lt.

60

9,00 540,00

Lapillo

Vulc. Lapillo 0,60 m 4

90,00 360,00

Wooden support

Ø 15

16

18,00 288,00

Battery irrigation System Price-to-hand 1 2.800,00 2.800,00

Total

49.488,00

Plants

Camellia J. Mrs Tingley For partition Pot Ø 46 14 280,00 3.920,00

S mall

Threes

Pot

Ø 60

16

600,00 9.600,00

Pieris Forrest Flame Pot Ø 62 16 160,00 2.560,00

Camellia J. Debutante Pot Ø 62 20 450,00 9.000,00

Azalea J. Blue Danube Pot Ø 46 12 380,00 4.560,00

Total

29.640,00

Furnishing Elements

Patio umbrella 4x4 lateral support 4 1.900,00 7.600,00

C ouch

Wicker

3

4.500,00 13.500,00

T able

8

places

Metallo

1

2.900,00 2.900,00

Table armchairs 58 Metallo 8 195,00 1.560,00

Total

25.560,00

Total supplies 104.688,0

0

Carriages 1.600,0

0

Manpower 9.500,0

0

R estoration work

3.200,00

Ligthing 6.000,0

0

Total Garden 124.988,00

In addition, on request, we can predict the predisposition for a future installation of a HiFi sound system global and also in

its implementation. In this case we would be ready to submit a project with its budget.


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