Senior living, 15 residences and capital of 500 million on the way

An ambitious goal: 15 residences in senior housing, within the next five years, for a total investment of around 500 million and all located between Tuscany and Northern Italy. This is the development plan of Guild Living, a company founded in 2018, in Australia, by Eugene Marchese and Michael Eggington and which, in a joint venture with Specht Group Italia, has already inaugurated the first luxury residence for over 65s in Siena in 2023. A model to be replicated.

"The project," explains Eugene Marchese, "stems from the idea of wanting to offer a different alternative. Right now, the life options for those who are 65 or older are very limited: staying at home with their children or a carer. We in Australia have a very mature idea of how to live the third age, and we are bringing it to Italy because we believe that elderly Italians are looking for other living options, comfortable, safe environments, services and sociality. On a permanent basis, for prolonged periods of time or even just for a holiday'.

After Siena (opened in 2023), the pipeline sees Lucca (December 2027), Versilia (May 2028) Trieste and Lago Maggiore (July 2028), Fiesole - Poggio Gherardo (October 2028) , Lago di Garda and Fiesole (Sant'Antonino) in December 2028. However, the target is 15 and scouting is ongoing.

"The flats - between 80 and 100 units per building - are one-, two- and three-room flats," adds Mariarosa Musto, CEO of Guild Living International Italy. "The rents range from around 2,000 euro per month for the one-room apartments, to around 2,500 euro for the two-room 65 m2 apartments, and up to 3,500-3,800 euro per month for a three-room 110 m2 apartment, also depending on whether or not there is a terrace. But this figure includes utilities, internet, maintenance, condominium expenses, services. If we consider what it means to maintain a (owned) house and a carer in good standing, one has to ask oneself what one wants to invest in'

But who are the customers? 'Managers, freelancers, doctors,' Musto continues, 'even opera singers. There are those who only move in the summer, those who opt for a few months with us and as many at home. Those who move. They are mostly foreigners: Americans, Germans, British, northern Europeans, but also Italians'.