Castello SGR has acquired a freehold property in central Rome, located at 57 Via Sicilia. The group plans to convert the building into a high-end five-star hotel.

The deal was executed through the Rome Hotel Development Fund. 1 Asset Management participates in the vehicle alongside Gemini Grupè, which acts as lead investor. A pool of Nordic investors also supports the project.

The redevelopment will preserve the building’s historical and architectural identity. The project will also enhance key features, including an internal theatre. This space will become a central element of the guest experience.

The initiative aims to create a luxury concept that blends heritage with contemporary design. It will target high-end international travellers.

The group has already started discussions with a leading global luxury hotel operator. The brand is not yet present in the Roman market, reinforcing the project’s premium positioning.