Originally Posted by MEL & JOHN

My goodness, it is horrible to read all these distressing posts and I feel my contribution to the thread will be seen as banal in view of all the problems. Those of us who have already purchased and have had the use of our house for over 2 years now are also concerned re the general forward movement on the urbanisation and the upkeep of roads etc until they are handed over to the council but for those in the process of buying and have so much investment in their prospective properties without finalisation, well it must cause sleepless nights.

On the UP side I cannot see CE being left 1/2 finished, despite the recent economic turnaround there is money to be made if the right investors move in and continue with the development. Also there is nt only Fadesa there, other areas/properties on CE and managed by different companies on a smaller scale so at least the whole of CE is not down to Fadesa.

I returned earlier this week after having a fabulous time in the sun with some very good friends. met Jon BXL and Catherine and Graham G and Sandra..YES, it is my round next time !..good to put faces to the names and meet up with you all.

Went to Jag's Indian restaurant...mmmmmmmm, wonderful, DO GO.

Also had a pamper girly night with Sally ( Lomsa de Esuri M2) who has set up "Real Women" and we had facials, massages, pedicures etc, all very professional, good value and Sally is great.

If anybody wants her email please PM me and I will pass on her contact details.


Mel

Originally Posted by jases1000

NEWSFLASH - Just had a call from my brother at my place on RAGO1. This generator has exploded (not sure if vandelism or not) and is on fire. Number of cars there - I'm guessing security - fire brigade have just turned up but it sounds serious. I will try and keep everyone updated.

Originally Posted by John and Lynn

AND NOW THE TANKS HAVE ARRIVED AND THEY ARE BLOWING UP THE BRIDGE!!, sorry got confused with the war film I was watching on TV..

Don't worry Jases, you were only trying to help up date us...

Originally Posted by Fortaleza

"...now are also concerned re the general forward movement on the urbanisation and the upkeep of roads etc until they are handed over to the council..."

The council has promised that there won't be a problem there.

"...On the UP side I cannot see CE being left 1/2 finished, despite the recent economic turnaround there is money to be made if the right investors move in and continue with the development..."

Martinsa Fadesa - assuming things don't take a huge turn in the wrong direction - are in voluntary administration and have every intention of continuing as a company, hence the steps taken. With this in mind, Esuri is an asset and they will seek to protect it. BUT, and it is quite a substantial but, what defines finished will differ greatly between yourselves and Fadesa. They make sure you get your house, the roads are done, throw in a bit of parkland, a plaza or two, golf courses already there, electric, water etc.... - I think they would regard that as pretty much finished. To my mind, although I haven't seen any of your deeds, if you get the above mentioned that should be more than enough to legally satisfy your contract - I doubt that written into the deeds are anything about the other homes, the hotel, the centro comercial, the marina etc.... It is these things that could be considered superfluous to satisfactory completion. Ethically wrong, you could argue, but your house would be "complete".

Although I could possibly see buyers interested in the hotel (which I'm sure had been already sold on, but not 100% sure), I don't see Fadesa ever going ahead with the marina. The council may want it as they are running out of berths in town and Canela, but will they want to take on the cost of constructing it, which would be funded by Ayamonte tax payers, most of whom would not benefit greatly from it anyway - even if they don't own boats, they get the benefit of making their town centre more attractive and the financial benefits that come with that, something they would not get so much of at the 'self-contained' Esuri site. Then there's the Centro Comercial. Sure, someone could be interested in it but it would have to be down the line, surely.


"...Also there is nt only Fadesa there, other areas/properties on CE and managed by different companies on a smaller scale so at least the whole of CE is not down to Fadesa...."

And this could be very hazardous - Fadesa is HUGE. The others, as you correctly point out, are not and if they go tits up, how would their "rescue plan" go? Remember, a thing in Fadesa's favour is that its assets outstrip its debts by more than 2:1

Look at this for an upside - although not officially quoted, someone at Fadesa (and I believe there are many who have had this independently confirmed although not necessarily from this board) has said that all those who have bought houses, waiting to complete etc will NOT lose their money; they WILL have their contracts completed as set out; the communal areas will be finalised; (this one I doubt, but they said it anyway) the Centro Comercial will be completed.
That it may not end up being what the big model in the shed said it was going to be, they are still new, pleasant buildings. The resort hasn't moved - it's still next to the motorway, it's still next to Ayamonte, it still has two golf courses, it still has nice views of the river etc. That you may have to travel a couple of kms to use a commercial centre may be a good thing in the long term - better to have one strong, robust centre than two struggling ones as they are both in the same, small catchment area.
This doesn't mean that nobody can't open a shop on the urbaizacion, converting a house or downstairs apartment.

It is a bitter blow not to get all you were expecting, but it isn't grim death either. Many of you will look back on this someday in the future with your sangria in hand taking in the sun from your balcony wondering what you were ever worried about.

Originally Posted by jases1000

Many of you will look back on this someday in the future with your sangria in hand taking in the sun from your balcony wondering what you were ever worried about.

I think you nailed it exactly with this!

Originally Posted by BobD

I see the news has made the papers in the UK.

Sunday Times Page 13. Here is the online version:

http://www.timesonline.co.uk/tol/new...cle4364177.ece

Originally Posted by BobD

I see the news has made the papers in the UK.

Sunday Times Page 13. Here is the online version:

http://www.timesonline.co.uk/tol/new...cle4364177.ece

Originally Posted by jono6395

Interesting article in the ST, agree doesnt say much more than widely known issues. However, maybe the nub of the article for those who are now owners on CE is:

'...what will happen to the golf course?'

Anyone know?

Keep smiling.