Turin: The famous historic residence on the hills of Turin, Villa Gualino, and 49 other buildings owned by the Piedmont Region have been put on the market to raise funds and alleviate the budget.
Villa Gualino was built in 1912 by the famous architect Alfredo D’Andrade for Riccardo Gualino, an entrepreneur from Biella and Italian patron. The panoramic position contributes to giving prestige to the building, constructed in a mix of neoclassical and Liberty styles.
Among the other 49 buildings for sale are Villa Javelli in via Petrarca, the building at corso Bolzano 44, the rear of the former Regional Palace in piazza Castello, the former Department of Environment in via Principe Amedeo 17, and the building at corso Principe Eugenio 36.
The plan for the acquisition is as follows: 30% of the value of the contribution is monetized at the time of the transfer to the fund and included in the regional budget; the remaining 70% is recognized in shares of the fund itself, which has a duration of thirty years. For all subsequent contributions, the shares held by the Region will increase, thus benefiting from any future sales or profits from rentals.
The operation for the sale of Villa Gualino is valued at 17 million euros.
