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

office party

Man in France wins the right to not be ‘fun’ and ‘promiscuous’ at work

November 29, 2022
by Arnas Lasys

The man was fired in 2015 for refusing to participate in after-work drinks and team-building activities

Toyota Malta launches 10-year warranty car care service

November 8, 2022
by BN Writer

All Toyota models qualify as long the age and mileage criteria are met, including passenger cars, light commercial vans and ...

€45 million wooden sailing ship to dock in Malta as it retraces historic voyage to China

September 6, 2022
by Robert Fenech

The 18th century replica took 10 years to build