Golf Hotel Cavaglia, Piedmont, Italy For Sale
Name: Golf Hotel Cavaglia
No. of Keys: 37
The Property: The hotel is situated in the northern Piedmontese region of Biella, just 1km north of the arterial A4 route between Turin and Milan, and within a few kilometres of the strategically important A4 and A4/A5-A26 intersection. The A4/A5 heads north to France and Switzerland (making Cavaglia highly accessible to both countries), and south to Genoa on the Mediterranean coast.
Golf Hotel Cavaglia is located less than a one-hour drive from: Milan Malpensa and Turin-Cassel international airports, five of Italy’s best golf courses, Lago Maggiore and Lago d’Orta.
The estate includes a 18-hole par 68 golf course, covering 40 hectares, driving range with 20 bays, RossoCuoco Steak House restaurant, Rosso Cuoco Cafe and 7 meeting rooms – up to 250 people, outdoor pool, Tennis, 100 sqm spa.
The current golf course is around 5,000m long and could easily be extended to over 5,300m through the acquisition of adjacent land, thus creating a very comfortable par 70 course.
Additional land could be acquired if a par 72 course were preferred and the owner is very willing to assist in and support the new owners in such discussions with local land owners and permitting authorities.
The current club has over 200 members, each paying an average annual membership fee of €1,200 pa.
Tesla recognised the strategic importance of the resort’s location and has installed 8x Superchargers in the car park. The location has proved popular with drivers on the A4 and travelling north-south from Mont Blanc and the St Bernardo Pass. They are drawn by the chargers, but also because of the excellent facilities available at the resort (especially the bar and restaurant facilities). On average the resort charges some 20 Tesla cars per day, during which time their occupants generate F&B income at the resort. Tesla is likely to exercise options to add another 4x chargers and to extend their agreement for another 20 years.”
Options for the Future:
1. Extend the Hotel: the existing buildings could be retained and the hotel extended to the rear over the existing tennis court. An additional 7,500sqm could be constructed.
2. Demolish and Rebuild Hotel: the existing hotel building could be demolished and a new, fit-for-purpose hotel facility could be developed on the designated hotel land. The planning permission would allow a new building with a GFA of 10,100sqm, constructed over ground and four upper floors (offering up to say 200 potential keys).
3. Extend Golf: it is possible to acquire more land and to extend the golf to a full par 72 18-hole course.
4. Performance Improvement: the hotel is currently a member of Una Hotels & Resorts and is subject to a Franchise Agreement. The owner is not a professional hotel operator and the hotel would benefit hugely from professional hotel management given its strategic location between Milan and Turin.
Competition: There are very few hotels in close proximity to Golf Hotel Cavaglia and very few hotels along the A4 Turino-Milano.
Main Photo: The Golf Hotel Cavaglia
Tenure: Freehold
Brand/Management: Is marketed by Gruppo UNA under a short term franchise agreement, but hotel would be sold with vacant possession.
Current Owner: Private family
Yield/Financial: Previous audited (from 2015) accounts available upon signing an NDA/LOI
Guide Price: €9,500,000 (for hotel and golf and development rights)
Guide Price: €3,725,000 (for hotel and hotel-related development rights only)
Date Posted: June 2019
Agent: Whitebridge Hospitality is the exclusive agent appointed by the family
THPT Comment: The property can be acquired with or without the golf, and offers a great opportunity for performance improvement in a highly strategic location. THPT work closely with Whitebridge, the mandated agent.