Naples, the Terme di Agnano for sale: «Relaunch or on the market»

The Agnano spa And Palazzo Moscati in via Cisterna dell’Olio – where he was born and lived holy Joseph – there are two new assets that will feed the “Naples Fund” in Invitation, a MEF real estate company, perhaps already from the budget adjustment maneuver. The discussion will certainly be concretized with the formal establishment of “Naples heritage” which will take place by the autumn, this is the new in-house company that will have to manage the real estate assets of Palazzo San Giacomo by taking over the business branch from NapoliServizi. Therms of Agnano And Palazzo Moscati they will be given to Invimit with the primary purpose of valorising them or possibly selling them.

The essence is that the Municipality is addressing the market. The central point is that the making of the Municipality’s real estate assets – an immense amount of over 65 thousand assets – is and will always be at the center of the economic and financial policies of Palazzo San Giacomo. Still burdened by over 4.5 billion in debt which is the sum of the financial debt and the deficit, despite the reduction of the same by over 700 million in two years. And this is to comply with the obligations of the “Pact for Naples” wanted by the mayor Gaetano Manfredi and signed with the then prime minister Mario Draghi which brought one billion and 231 million into the Municipality’s coffers. Which served to avoid default, but which must then help the Municipality to stand on its own two feet. Hence the equity and tax lever in the foreground to raise cash.

Why Agnano spa And Palazzo Moscati? Clearly because they have the right profiles to interest the real estate market. And then because Terme di Agnano in particular was very close to bankruptcy and for now it has been saved by the Municipality but requires large investments. The move on the spa is possible because the municipality itself has managed to relocate all the employees to the other investee companies and therefore no jobs will be lost. The spa is enchanting but essentially abandoned to itself. Despite their history, the fact of being immersed in the heart of the Campi Flegrei and the scenery they can offer.

Investments and the right know-how are needed, which a public body is unlikely to have. The Naples Fund is made up of 70% by the Municipality and 30% by Invimit, and this means that the Municipality will always have the final say both for what concerns valorization and disposal projects. And the Terme di Agnano located in the western area where the tourism, leisure and entertainment supply chain is being built and where many projects exist, could be an opportunity for investors. They could take over the business unit and give the Municipality a percentage or take over the entire site. Thermal tourism is one of the most significant components for those who decide to go on holiday and relax and Naples is in full tourist boom.

The same theories apply to Palazzo Moscati – it is a big attraction for religious tourism and the Jubilee is coming soon and will also affect Naples. There the project is to create the museum of the Saint, recover the many apartments that exist knowing that some have assignees who have however been evicted by the Municipality and could demonstrate that they have a valid title to claim rights. The remaining part of the apartments – we are right inside the bowels of the historic center, a UNESCO heritage site – could be used for other purposes.

In this context it should be remembered that the Municipality has already collected around forty million from the Fund and Invimit because some assets have already been contributed: Cavalcant Palacethe, the Anm deposits of Posillipo and Garittone, Villa Cava in Marechiaro, the Galleria Principe di Napoli and the palace on Via Egiziaca in Pizzofalcone. Which also turned out to be an operation for the sake of legality, as it was occupied illegally by members of well-known Camorra families who were chased away. Invimit and the Municipality have closed an initial agreement on the basis of 600 properties that the Mef company is evaluating to understand their attractiveness on the market. So the Terme di Agnano and Palazzo Moscati are just a small piece of the maneuver that will be completed in the next few years.

© ALL RIGHTS RESERVED

Read the full article at
The morning