A woman takes a picture of herself in Rome's ancient Colosseum January 18, 2013. Italian restorers cleaning the Colosseum have discovered remains of frescoes indicating the interior of one of the world's most famous monuments may have been colou
A woman takes a picture of herself in Rome's ancient Colosseum January 18, 2013. Italian restorers cleaning the Colosseum have discovered remains of frescoes indicating the interior of one of the world's most famous monuments may have been colourfully painted in Roman times. REUTERS/Tony Gentile REUTERS/Tony Gentile

Canada has placed on the market for sale the former official residence of its Ambassador to Rome. Officials have yet to determine an asking price. The Department of Foreign Affairs, which is handling the sale, said the country is disposing the residence because it has been hard and costly to maintain it. Known as Villa Grandi, the former official residence of the Canadian ambassador to Rome sits on a 1,467-square-metre expansive property. Canada acquired the property in 1950, according to the Canadian Press, before it underwent extensive renovations in the early 1980s.

Villa Grandi has centuries-old trees and orchards, as well as a tennis court, fountains, a small shed and a parking area. It boasts of a main four-level villa set in a two-hectare park. It also has a two-floor caretaker's cottage. The listing the Foreign Affairs department made included a large dining room, several reception rooms, a study and a service kitchen.

The property is only a few metres away from the famous thermal complex Baths of Caracalla as well as to the most ancient areas of Rome including the Colosseum, Palatine Hill and Roman Forum. Villa Grandi is bounded on the north-east by 3rd century BC Aurelian Walls and by Via di Porta Latina on the south-west.

John Babcock, Foreign Affairs spokesman, also disclosed in a statement the department is set to dispose a number of other properties. The New York apartments which house Canada's ambassador to the UN and the consul general have been identified to be placed on the market. "Under the strategy, high cost, oversized and/or poorly located housing is being replaced by more appropriately sized and located properties," Canadian Press quoted Babcock.

Babcock reiterated the sell-off of Canada's properties in foreign lands is part of a 2012 budget plan. In it, the federal government approved to dispose some properties and relocate to more practical and economic sites. Just last fall, Canada was able to sell a historic London mansion that houses part of the Canadian High Commission. It sold for $530 million.

"The replacement of diplomatic properties abroad in no way affects either the status or the importance Canada attaches to its relationship with the host country," Babcock noted.

Colliers Inc. the Foreign Affairs Department's commercial vendors, had listed the property for sale. Since there was no set asking price, the property will go to the highest bidder in a tender that closes Dec 1, according to CBC News.