Getting to know… Michael & Dawn Cavanagh- Hobbs from Appassionata
How would you describe your business title?
Michael Hobbs – Entrepreneur, Adventurer and Truffle Grower! I am also the owner and founder of Appassionata, the boutique fractional ownership business in the heart of the Le Marche region of Italy.
What made you decide that Italy was the best country to set up a new business?
Italy is one of the most iconic countries in the world. The landscape, people, food, wine, history and culture all create the rich tapestry that is Italy…………“la dolce vita”. It is also one of the top countries in the world that people would like to visit on holiday.
What was the vision behind Appassionata?
To create something magical, reflecting our life experiences and incorporating our strong family values.
Appassionata was born from the hearts and minds of my wife Dawn, a successful interior designer and I. We wanted a way of sharing our love of Italy with a discerning and select group of people.
The business is boutique in nature and style, family run and aimed at like-minded people who want to experience the real Italy and a luxurious lifestyle. We are not a large faceless corporation; our philosophy is to exceed owner’s expectations.
Why do you think Le Marche makes the ideal location to spend time?
Le Marche is one of Italy´s best kept secrets.The area still remains relatively undiscovered by mass tourism and retains a taste of authentic Italy. Close to the Adriatic Sea and Sibillini Mountains it has something for everyone. It’s Italy in one region.
Is it still safe to buy in Italy?
Of course, Italy operates a very effective land registry system with strong legal controls. It is an integral part of Europe and has great appeal to international property buyers especially Americans who love to holiday here.
As part of our operating model we have created a simple and straightforward ownership structure, based in the UK. The property is owned by a non-trading, UK registered company which has been established to operate the estate on behalf of all its owners. Title to the estate is held in perpetuity by the UK based company, fully protecting the owners.
As with other real estate, ownership may be sold, willed, transferred or placed in a trust at any time. Transfer of ownership is straightforward and Appassionata has handled all of the complexities and substantial costs involved in purchasing an Italian property, on behalf of its owners.
What has been Appassionata’s biggest success so far?
Selling out of our first phase of the development (Casa Leopardi) in just over a year, selling two shares in our second phase (Casa Giacomo) before we had finished the property and the number of very positive testimonials we continue to receive from our owners and their guests.
The UK press indicate that the Italy is in decline, what is it like for you living much of the year there and what would you say to prospective clients to allay any fears?
What the press say and what we experience are two different things. There is no doubt that Italy, like the rest of Europe has economic challenges to deal with. What you experience when staying in the area though is quite different.
The Italians have such a zest for life and make the most of their environment and culture. On a day to day basis we really don’t see many changes and the local Italians, with their strong family values, keep their community together and enjoy their lives with the same pace and passion. Come and visit us and decide for yourselves how wonderful Le Marche is and experience its sweet life.
Who is buying in Italy? Has there been a change in demographics?
A mixture of nationalities and demographic types but it depends on the type and location of property. At Appassionata we have a cross section of European, Scandinavian and American owners and generally high net worth individuals buying without finance.
With the fall in the euro, what advantage does this offer British buyers?
Your pound certainly goes further, especially in Le Marche where a glass of wine is between €1 and €2.50.
An excellent, six course Italian meal, including wine, water and coffee for £20.00, need I say more?!
Why do you feel fractional ownership is a better option for people considering buying in Italy?
Fractional ownership is fast becoming the smartest way to enjoy the benefits of owning a luxurious holiday home in Italy at a fraction of the cost of buying a holiday home outright. Fractional Ownership allows you to increase your buying power and significantly reduce the annual running costs.
Our fractional ownership opportunity also offers exclusive occupancy of your chosen property and access to shared grounds for each of your residency weeks, a share of wine, olive oil, lavender oil and truffles/truffle oil produced from the estate as well as the opportunity to generate income from rentals.
For more information about Michael and Dawn Cavanagh- Hobbs and the opportunities available through Appassionata contact them today on 0039 0734 658 775 or visit www.appassionata.com.