Varese, Lombardy 21100

This magnificent 5 story , ground to roof top , commercial and residential building is located in the heart of Varese. Boasting a prestigious Corso Matteotti address - the citys prime high street - and an additional rear entry through Via Romagnosi. This building is located in the heart of the city's pedestrian only area , a stones throw from all of the cafes , shops and vibrant restaurants that this beautiful town has to offer. Owned by the same family for 5 generations and held tightly since 1814 , this historical beauty has not been on offer for 212 years and presents a highly attractive residential and commercial opportunity and significant value-add potential. Currently the commercial component of the property on the ground floor including a basement storage area, is under a long term lease to a prime tenant providing a stable income stream. The four upper floors are designated as residential and require renovation , thereby offering substantial scope for redevelopment. Varese currently benefits from a highly dynamic and steadily growing residential rental market, both in the long-term segment and in the increasingly sought-after short-term rental sector. Detailed information regarding the current income, estimated renovation costs, and a comprehensive study of the propertys potential returns is available upon request, supporting a well-informed investment evaluation. Furthermore, the city enjoys a strategic location, with convenient access to Milan, Switzerland, as well as renowned destinations such as Como and Lake Maggiore. The proximity to Milan Malpensa Airport and the presence of the well-regarded European School of Varese further enhance the appeal of the area, making this property an investment opportunity of considerable standing.