Appassionata, Fractional Ownership, Le Marche, Italy, Palazzo Scarsini, Michael Hobbs

Appassionata is one of Europe’s most successful and inspiring fractional ownership companies, offering luxury Italian living to over 60 property co-owners worldwide. Since its launch in 2009, Appassionata has purchased, developed, designed, furnished, and sold fractional shares in six beautifully appointed developments.

Many people dream of owning an idyllic, second home in Italy, an escape from the rat race and the chaos of everyday life. They are often discouraged by the thought of navigating their way through foreign legislation, unfamiliar builders, not to mention the cost of renovation and maintenance of a property whilst they are not in residence.

The prospect of owning your own Italian holiday home can seem very out of reach, especially when holiday homeowners rarely use their home all year round.

"The expense of buying a holiday home outright, along with the annual running costs seemed crazy, when you may only use the house for an average of 40 nights a year. – That is why Appassionata was born!" The Sunday Times

In conversation with Michael Hobbs, co- founder of Appassionata, he reflects on the journey so far:

“The last fifteen years have gone by so quickly; it feels like only yesterday we flew to San Francisco for a three-day conference on fractional ownership and everything fell into place for the family lifestyle business we wanted to create in Le Marche.

Our first project, Casa Giacomo, was a great learning curve and quite a challenge as we still didn’t really speak Italian and we had no idea where to source things. Most of the time was spent with our heads in a dictionary, driving around in circles trying to find artisans with no street names and no GPS. It was slightly daunting, but we looked on it as an adventure, we laughed a lot and enjoyed the odd glass of wine too!

As many of our friends were settling into middle age back in England, we yearned for a different sort of existence. The idea of creating beautiful properties for other like-minded people, who wanted a share of what we had discovered in this untouched region of Italy, became our passion. Involving our children as the business developed was a bonus and allowed us to stamp a truly family feel on the enterprise created.

Now, fifteen years later with over 60 owners and six projects we really appreciate how lucky we are. Doing something we love and meeting so many wonderful people.

Why Le Marche?

“Le Marche is a magical holiday destination that captures the essence of authentic Italian life. Rich in culture and history, and with strong family values.

The region has so much to offer in terms of activities and excursions and provides year-round entertainment for all. Endless golden beaches, yacht-filled marinas and picture-postcard hilltop villages provide fun in the sun, whilst the majestic Sibillini mountains provide the backdrop for hiking, biking, and climbing and winter sports such as skiing and snow-walking.

Le Marche has certainly held on tight to its innate sense of timelessness and authenticity. Today’s travellers want to experience a real taste of Italy but without compromising on comfort, style and amenities. The growing desire for luxury and bespoke vacation experiences is clear, and discerning travellers increasingly want the very best of both worlds in terms of location and facilities.

After 15 successful years Appassionata believes it has achieved that.”

"Fractional ownership with Appassionata was a much more pragmatic approach to owning a home in Italy. The properties are meticulously restored, and fractional ownership was the solution to all of the expense and hassle of overseas home ownership." Appassionata Owners, Pennsylvania, USA

After 15 years are you still excited about the projects you create?

“ Absolutely, our latest project is Palazzo Scarsini, and was probably the most challenging and rewarding of all the projects we have completed.

It is an elegant and spacious 16th century Palazzo with fresco ceilings. It is perfectly located in the centre of the vibrant, historic town of Petritoli, which has just been added to the list of Italy's most beautiful villages - ‘I Borghi più Belli d'Italia’. Petritoli has so much to offer, numerous bars and restaurants within walking distance, and easy access to the sea and mountains. A perfect location for those wanting the best of both worlds, village life and the open countryside. We love it so much that we have made it our Italian home for the family, and the Italian Appassionata studio offices. The main offices are still based in the UK, and I have the fun of splitting my time between the two countries. It’s a perfect balance and allows me to have the best of both worlds.

The Palazzo offers over 435 m2/4,700 ft2 of luxurious living, beautifully and tastefully renovated, maintaining the perfect balance of history and modernity. A unique and rare residence, listed by the Italian Cultural Ministry, with original features throughout, many recently discovered after centuries of being covered over.  This stunning home has four large bedroom suites, all with ensuite bathrooms and air-conditioning, spacious open plan living spaces, a formal salon, and an incredible 50m2 south-facing terrace. A spa, gym and wine cellar have been created under the 15th century vaults. This unique space provides an amazing enviromnent to relax and enjoy the tranquillity of this remarkable home. There is now ONLY ONE share left in this stunning property and I would recommend you get in touch with us as soon as possible if you would like more information.”

After 15 years what do you think are the key drivers for people considering Fractional Ownership?

“ It’s a good question, we have often discussed this as a team, and with our owners, and I think it has changed over time, especially after the covid pandemic and a greater acceptance of sharing; their seems to have been a cultural shift in the need for full ownership of luxury assets, especially in respect of foreign holiday homes, where many people are looking for better solutions than whole ownership. Especially when it can result in them buying into a more luxurious property than they thought they could afford. With the added benefit of then sharing the annual running costs with their co-owners, paying for the time they use. Ownership is often a point of discussion with new clients, and this is the real beauty of Fractional Ownership. You own your share in the property and have the right to sell when if that time should arise. We have concluded many re-sales on behalf of owners, often providing a decent return on their original purchase, we always say ‘that should never be the reason for the purchase’ but it does give a level of re-assurance.

We believe we have created a great solution for holiday home ownership, with a proven track record; and I suppose, after 15 years, it’s a great compliment to us that we now have a number of competitors copying our approach, but there is only one Appassionata!”

The Advantages Of Fractional Ownership

Lifestyle purchase – Excellent alternative to outright ownership

Flexible Residency Calendar – At least 4 weeks residency each and every year

Annual Running Costs - Pay only 1/12th of the annual costs.

Economic sense – A fraction of the whole ownership cost and upkeep

Confidence – 15 years with over 60 owners, and 6 projects.

Asset – Easy to pass on to future generations.

Simple resales – Proven resale program, with positive returns.

Property management – Peace of mind – family run management company.

Year-round community – It’s just like coming home.

Location – Breath-taking beauty, close to sea and mountains.

Get in touch here or contact Appassionata at enquiry@appassionata.com or +44 (0)7711776440 to find out more information about their properties. Please visit their website at www.appassionata.com.