16th-century Florentine villa to be restored by American investor

16th-century Florentine villa to be restored by American investor

Farms will be created for producing wine and olive oil and sponsoring cultural activities in the area.

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Tue 20 Feb 2018 1:40 PM

Villa Bibbiani, the former historic residence of the noble Frescobaldi family, has been sold to an American investor. Located near the Montalbano hills in Florence’s surrounding countryside, the purchase of the property alone cost 10 million euro, while an additional 10 million will be dedicated to the restoration of its furniture and renovating the 19th-century botanical garden. This will also see the creation of farms for producing wine and olive oil, as well as sponsoring cultural activities in the surrounding area, particularly the archaeological excavations of the Etruscan city of Montereggi, which is located on the property.

 

Photo courtesy of Lionard

 

This is part of a trend of American interest in the Italian luxury property market, with investors not limiting themselves to turning them into habitable residences and protecting the country’s heritage, but also devoting resources to cultural and economic activities.

 

The villa was first mentioned in 1546 as part of the Frescobaldi estate, the powerful Florentine bankers who owned it until the 1800s. It consists of 380 acres of land, a scenic villa with two towers and a farm with wine cellars and stables. Its botanical garden, which alone covers an area of 20 acres, was conceived on the orders of Cosimo Rodolfi, who took over at the beginning of the 19th century, along with a Romantic park which includes 195 varieties of camellias.

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