Steven Hill, from Washington state, bought the castle in December for €1.82m - and sold it in January for almost twice the price
Steven and Janyce hill bought a castle in Italy’s Emilia Romagna region, then sold it weeks later for more than £1m profit Steven Hill, a former environmental engineering regulator and consultant in Washington state, in December purchased the magnificent Castello di Serravalle for €1.82m , in the, from an aristocratic Italian family who had owned it for 35 years.
“Shortly before finishing the purchase, I was approached by Franco Giuliani, who made several offers to purchase the Castello,” Mr Hill tells. “He eventually offered too much for me to turn down. He will become the new owner sometime in March or April.“I am told that Mr Giuliani grew up in the area, near the castle, and has a very personal attachment to the property. We hope that he will love and honour the place as much as we would have.
The US couple declined Mr Giuliani’s initial offer, says Mr Hill, but eventually the 74-year-old Italian businessman “increased the offer to a point that would allow us to find and purchase another property that better suited our plans. So we accepted his offer… and are in the process of buying a different property near Milan”.they have grand plans for the future of Serravalle castle and feel “pride in having brought it back” into Italian hands.
“The feeling that accompanied us in this decision is the affection and the deep link with the land in which we live, it is for us a great source of pride to have brought the castle back to Italy.”
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