Issue link: https://maltatoday.uberflip.com/i/797847
maltatoday, SUNDAY, 12 MARCH 2017 News MATTHEW VELLA DUTCH property entrepre- neurs are seeking investors to turn one of St Julian's iconic homes – the Villa Priuli in Bal- luta Bay – into a boutique resi- dence and hotel. For years, the 18th century pe- riod home has lain unoccupied, placed in the shade by the tow- ering Meridien hotel. But the unique villa is a sched- uled Grade 2 property that is tagged with a "very high" cul- tural heritage value assessment. Now a Dutch entrepreneur, Jan Velthuis, has signed a lease agreement for the property but is seeking external finance to turn the home into a high-end boutique residence. An entrepreneur by trade whose family has years of expe- rience in the hospitality indus- try, Velthius says he decided to open a boutique residence in Malta after falling in love with the island on his first visit while realising the booming tourism industry it offers. "It was in the summer of 2016 when I first laid my eyes on Villa Priuli together with my wife. In search of the perfect estate to open my boutique residence I didn't have to look any further and decided there and then to initiate the necessary market re- search," Velthius said. But the villa requires restora- tion and renovation to become the boutique residence that Velthius hopes will offer top- quality suites and a personal- ised service suitable for upscale leisure tourism. The healthy budget reserved for the construction and fin- ishes at Villa Priuli allows for top quality and will be ahead of competitors. To maximize profits, a cocktail bar will op- erate daily for the public in the front yard. The concept of this cocktail bar will follow the same style as the Boutique Residence and will maintain a low profile (i.e. no loud music, early closing hours and limited number of guests admitted) not to interfere with the room-guests' experi- ences. Architect Etienne Fenech has conducted a thorough cost estimation and time frame to convert Villa Priuli from a resi- dential dwelling into an exclu- sive boutique residence, with plans for a cocktail bar open to the public in the front yard. "The expected opening date of the cocktail bar is in March 2018 while the boutique resi- dence is expected to open its doors in June of 2018," Velthius hopes. Villa Priuli's generous size, great character and magnificent views of the bay in one of Malta's busiest towns is expected to ac- commodate up to 18 guests with access to a secluded back yard with large swimming pool, a sundeck area and conservatory. With nine suites of up to 38 square metres with terraces of up to 23 square metres, all suites will have views overlooking Bal- luta Bay, and the elegant design and functionality of German furnishing specialist Furncon. Velthius is hoping to attract investors to get in touch with Devinke Estates in the Nether- lands, for a full business plan. "Expected return on investment for shareholders is as high as 18%," Velthius says. New lease of life for Villa Priuli