Villa Luginsland

Villa Luginsland, a historical palazzo in Rabat, originally placed on the market in September 2016 for more than €4 million has been sold, announced property broker Stefan Consiglio on Monday.

The building had fallen into disrepair after an extended period of time without occupation, and its new owners are expected to make a major investment to repair it.

Announcing the sale on social media, Mr Consiglio detailed how the building will undergo an “enormous restoration project, retaining all of its beautiful features and restoring it to its former glory with the addition of a perfectly landscaped garden.”

The property was built in 1887 by the German consul in Malta Baron Max von Tucker. Many of the rooms are furnished with works by Giuseppe Cali.

It is set on 11 acres of land, commanding unobstructed views. It features three main bedrooms, three staff quarters, three bathrooms, a separate cottage, stables, an olive pressing room and two garages.

Time stands still in Villa Luginsland. Located in Gorg Borg Olivier street (also known as Busketto road), Rabat,…

Posted by Kappa Vision on Thursday, 3 May 2018

In comments to BusinessNow.mt, Mr Consiglio explained some of the challenges he faced in brokering the sale.

He said that the heirs of the property were initially divided on whether to sell it, with some wanting to retain it and others keen on selling it.

Ultimately, he said, due to the fact the property needed so much work, “it was deteriorating basically”, with massive gaping holes persuading them it had to be sold.

Then, convincing the buyer, who according to Mr Consiglio, will have to invest a similar amount to the amount he purchased the property for in its restoration that this would be worth it was also a challenge.

Featured Image:

Kappa Vision / Jean-Paul Borg

Related

Ryanair

Ryanair launches Malta’s biggest ever summer schedule

March 15, 2023
by Arnas Lasys

The airline will operate 470 weekly flights, an increase of 26% from 2022

Maltese passport 11th most powerful in the world in 2023, study finds

March 13, 2023
by Arnas Lasys

Maltese can visit over 150 countries without a visa, and 42 countries with only an ID card

Money does actually buy happiness, new study finds

March 9, 2023
by Arnas Lasys

Only the unhappiest 15-20% saw their level of happiness plateau past a certain threshold due to 'miseries that remain'