Fredbargate

John I started on this page :-

https://martinsafadesaliquidacion.es...-golf-ii-este/

On the lefthand side just above the pictures you will see:

Pulse aquí para descargar la ficha completa del activo.

Click on it and it will take you to the link I posted earlier i.e. :-

https://martinsafadesaliquidacion.es...f_ayamonte.pdf

EsuriJohn

Thanks for that Fred it is full of interesting info, I think it tells us how much Fadesa owe on the EUC BILLS would repair a lot of roads and street lights with that.

MikeJ

If you look under the tab "STOCK" there is a list of properties (pages 4,5,6) - most in Las Colinas - which have minimum prices of around 60-70K€. Although there is a duplex in ME M3 at 78k€

Under the tab "suelo finalista" are the details of the two hotel plots both of which are marked direct sale rather than auction.
BTW it also shows that the golf courses (together) are up for direct sale at a minimum of 1.1M€

retireteed

This is fantastic news, great for the future of Esuri and everyone who bought property at the top of the market!

Fingers crossed for a proper golf company / hotel chain to take over soon!

EsuriJohn

Jon-Bxl

Thats us, always 'over the top'

Whilst fingers are crossed, I'm not holding my breath!!

Lets see what happens in time.

Jon

Carol&John

The "half complete hotel" is not for sale as yet, according to the map. H-1 and H-3 are for sale, and are sited north of the present club house.

EsuriJohn

OK I have now had the mechanism for this sale explained and it is not an auction with a man with a hammer but a sealed bid to be submitted by 4th April.

The reserve quoted of €1.1m is approx the accumulated total of the debts applying to the plots ie. IBI, EUC, VAT licence fees etc. When the bids are opened and the best qualified highest bid selected the sale transaction starts. The first step is for the agent to take the outstanding tax bills together with the winner plus cheque book to the various tax offices and the taxes are paid and receipts obtained next step is for the surplus cash from the bid together with the contract and buyer to attend the Notario and the sale takes place. Finally the Catastro office amend the ownership and there you go you own two golf courses, a club house with planning approval for a second clubhouse. The liquidator might have small change or a couple of million in the bank!

The new owner can then start to spend big to bring the two courses to world class condition and build his second clubhouse and continue to pay all his taxes and water bills. All this with no steady stream of golfers from an on course hotel!

Jon-Bxl

Wow John well researched.

Is the 'sealed bid' an euphemism for 'brown envelope' - or does that come somewhere else in the process?

Thanks for the explanation. Wonder how it will pan out in reality.

Jon

Fredbargate

I used to buy equipment from the MOD and Local Government using the sealed bid method.

The small print stated that the seller was not obliged to accept the highest or any bid

retireteed

Hi.

Is there any news on the sale of the golf courses?
I believe (from my rudimentary Spanish, and a bit of Google translation) that the date for sealed bids has passed.
Any info on which companies might have made bids?

When will the Hotel be up for auction?

Cheers.

EsuriJohn

You must remember this is Spain Manama. It was probably decided months ago they held the auction to comply with the law. No rules when they have to make it public.

retireteed

So which corrupt company won the bid then?

MikeJ

Closing date for bids seems to have been moved to 14/04/2016

guesswork

The date of the 14th was for other items