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New lease of life for Villa Priuli on Balluta Bay

Dutch property entrepreneurs are seeking investors to turn one of St Julian’s iconic homes – the Villa Priuli in Balluta Bay – into a boutique residence and hotel.

matthew_vella
Matthew Vella
13 March 2017, 9:07am
Villa Priuli in Balluta Bay
Villa Priuli in Balluta Bay
Dutch property entrepreneurs are seeking investors to turn one of St Julian’s iconic homes – the Villa Priuli in Balluta Bay – into a boutique residence and hotel.

For years, the 18th century period home has lied unoccupied, placed in the shade by the towering Meridien hotel.

But the unique villa is a scheduled Grade 2 property that is tagged with a “very high” cultural heritage value assessment.

Villa Priuli is a scheduled Grade 2 property with a
Villa Priuli is a scheduled Grade 2 property with a "very high" cultural 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 experience in the hospitality industry, Velthuis 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 research,” Velthuis said.

Dutch entrepreneur is seeking external finance to turn Villa Priuli into a high-end boutique residence
Dutch entrepreneur is seeking external finance to turn Villa Priuli into a high-end boutique residence
But the villa requires restoration and renovation to become the boutique residence that Velthuis hopes will offer top-quality suites and a personalised service suitable for upscale leisure tourism.

The healthy budget reserved for the construction and finishes at Villa Priuli allows for top quality and will be ahead of competitors. To maximize profits, a cocktail bar will operate 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 the room-guests’ experiences.

A cocktail bar will operate daily for the public in the front yard of Villa Priuli in Balluta Bay
A cocktail bar will operate daily for the public in the front yard of Villa Priuli in Balluta Bay
Architect Etienne Fenech has conducted a thorough cost estimation and time-frame to convert Villa Priuli from a residential dwelling into an exclusive 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 residence is expected to open its doors in June of 2018,” Velthuis hopes.

Villa Priuli’s generous size, great character and magnificent views of the bay in one of Malta’s busiest towns is expected to accommodate up to 18 guests with access to a secluded back yard with large swimming pool, a sundeck area and conservatory.

Nine suites of up to 38 square metres with terraces of up to 23 square metres, all suites will have views overlooking Balluta Bay, and the elegant design and functionality of German furnishing specialist Furncon.

Velthuis is hoping to attract investors to get in touch with Devink Estates in the Netherlands, for a full business plan. “Expected return on investment for shareholders is as high as 18%,” Velthuis says.

Mark de Vink of Devink Estates, invites those interested to contact him at [email protected].

matthew_vella
Matthew Vella is executive editor at MaltaToday.
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