For centuries it was one of the most sophisticated shipyards in the world - the engine of Venice's extraordinary maritime wealth.

Now the Arsenale, a fortified citadel of pillared boat sheds and Renaissance warehouses surrounded by crenelated walls, is being rented out by the cash-strapped Italian navy to help pay for the maintenance of the historic site.

The navy has started hiring out recently-renovated buildings for conventions and meetings in a bid to bring in cash and make up for cuts by the Italian government.