Costa Esuri Update
 

To add to the euphoria that comes with Spring I thought I would mention that several plots seem to be showing signs of activity and also 2/3 villa's on either side of what was Jags are sold. Hopefully the trend will continue all over Esuri and, with regard to the villa's, if more sell maybe the clubhouse will take on its original use. Regards Bryony

Re: Costa Esuri Update
 

That's great news! Thanks Bryony.

In these times of recession, if anybody has some finances then its an incredible time to buy in a wonderful area. Those villas were at one time maxing in the 600K bracket.. you can get one now with front line golf (+ river + Portugal + natural park) views and pool potential for quite a bit less than a third of that! (Last time I heard) The apartments are selling at crazy prices. Again, around about a third in some cases. Although I haven't checked, I suppose villa plots are 'going cheap' too and one can build a dream home there - for a great price. Getting labour to build it is no problem. (Guess who bought pre-crisis? :o )

The clubhouse, with professional management and the right strategy could/should be a highly successful business concern and wonderful centre of social life in Esuri for all residents. With its current monopoly position they need to capitalise on this, so that when competition does come (and we all hope it does, and we have more choice in Esuri) - they will have already cemented their position for the future. It makes business sense. Like(d) it or not Jags was very well frequented, and as I suggested in other threads, IMHO, there is a wonderful money-making business potential for at least one other resto-bar business today in CE.

We, who are in it for the long term - hope to see a gradual improvement over the duration. Even though it will never reach the 'pre-crisis vision' it will, I hope, be 'gettin' better all the time!'

We are also very happy to tell everyone that even in the current multi-dip situation, we still love spending several months a year there... We believe it can only improve from here, re the facilities and choice within walking distance from home - and future improvements within a short drive. This week I am hosting a 'lads weekend' in CE with 3 good long term buddies from both sides of the US and Europe and am sure we will have a blast, with LOADS of things to do. Errr however, with food and drink prices so amazing, I'm not sure how much they will remember the 'morning after' :beer: We could have met anywhere in Europe, and have done so annually, but I was happy to suggest CE, confident in the fact that we are bound to have a great laugh!

Any improvement is good news - thanks again for the update.

Jon

Re: Costa Esuri Update
 

Re: Costa Esuri Update
 

Welcome to the pre-crisis club.... 'sorrow drowning' available however, at great prices :beer:

Jon

Re: Costa Esuri Update
 

Your on! Monday Club 18.00hrs prompt. Tell Bill! :beer::beer::beer:

Re: Costa Esuri Update
 

No need to tell him, we get a bollo**ing from him if we are there later than 18:00 for Monday club :)

BTW re house prices one cant apply the same rules for the more standard 'mass-produced' homes (like ours) - to the unique + gorgeous villas, others have created!

Meaning .... 'your round' :)
Jon

Re: Costa Esuri Update
 

Your on.

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Fantastic news - we have also shown an interest and left our details in relation to a house on Esuri and all being well (if our mortgage is approved) we will also be joining you all at some point soon - fingers crossed that is - it was lovely to finally put a face to your name Bryony - take care all xxxxx

Re: Costa Esuri Update
 

Hi Sam, it was good to meet you too and I hope everything works out fine for you, regards Bryony

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Its ages since I have been to CE. Could you give me a link to an apartment for sale in a block you know to be nice and a likely obtainable price?

Thanks.

Re: Costa Esuri Update
 

These people are selling all over Esuri They are friends but I have no commercial affiliation. They speak English


http://www.vinculosdelsuroeste.com/

Re: Costa Esuri Update
 

Hi The place to buy apartments is from the various banks that have taken them over and want them off their books.

In Marina Esuri there is a poster selling apartments from CajaSur from 68K. The Sun and Sea apartments are cheap at 48K up to 95K for the penthouses with amazing views.

Fadesa are selling as well and you have to go to their shed. Going straight to the banks/Fadesa saves you some commission charges.

I have no links, sorry, as you need to go direct to the banks. But MichaelH on the forum is a good contact for property buying and the various agencies in town will have offers too.

I suggest you come over for a few days and check it all out... if you are serious ..... and nothing beats seeing it with 'naked eyes'

Good luck

Jon

Ps just noticed a new thread just started and on the front page re estate agents..... http://britishexpats.com/forum/showthread.php?t=795258

Re: Costa Esuri Update
 

Jon is offering you sound advice about going over to look at what is on offer. It's not just about buying based on price. You could get a real "bargain" only to find that the manzana it's on is not well maintained due to a lack of community fees being paid. It will be very apparent which are the ones to focus your search on.
Good luck

Re: Costa Esuri Update
 

thanks for advice guys. I nearly bought an apartment a good while back for 178k euros so it seems incredible if they are going for as little as a 1/3rd of that price now.

Re: Costa Esuri Update
 

Thanks for reminding us full price payers how useful a crystal ball would have been:D

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Hi All,

I bought pre-crisis, as from reading this thread I know some of you did also. I've not been in a position to get there for nearly 5 years now and I was just wondering how things are nowadays?

Are the course(s) open, I notice the clubhouse seemed to have been closed as at a year ago, still the same? I also see some photos that appear to show that the roads are abandoned with weeds poking through all over. I have lots of questions but if anyone is willing to give me a general update I would much appreciate it ;). If not maybe you could refer me to an active thread, blog or web site, I'd appreciate that too

I am thinking of moving over this year maybe next.

BTW does anyone know of a George Huntley and is he still around? I made his acquaintance in about 2002-3 but the last time I saw him was more than 5 years ago and we lost touch.

Cheers

Re: Costa Esuri Update
 

Hi, not sure where you are getting this info but as far as the Golf Course goes the West Course & the Club House have been up and running since the course was opened in 2006 while the East Course has been 'mothballed' for the last 2/3 years. I think you may have mixed the Club House with Jags (which did close a year ago) but this is soon to re-open.

There are now just over 1000 permanent residents living on CE and the roads and infrastructure are all fine last time I looked out the window.

George and Yvonne Huntley are still here from time to time and the best place to find him would be the Golf Club.

I'm sure you will get other updates after this post & most of the other Threads on The Ayamonte Club are active. Regards Bryony

Re: Costa Esuri Update
 

They keep telling me "there are no pockets in shrouds" so I have just got to "suck it up" that's life!

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We’ve really noticed a buzz around CE this time. More than ever and its only March.

There are more cars in the parking, more visitors looking at properties, we’ve several viewings over the past few weeks. New posters just gone up for villa sales, and a friend saw them filling up the showhome at Sea and Sand for we suppose/hope a new sales drive. Spanish are coming in more and snapping up the great deals on homes.

You can get a nice 2 bed/bath appt for 45K Euro!! (Las Colinas).With the pound +/-1.2 and at these prices one can can enjoy a slice of this wonderful part of the world for what I think is a crazy/wonderful price.

The 3 ‘big’ pieces of news in 2014 (that look good on the ‘tea leaves’) are:

1. The Golf complex and hotel and maybe even the sopping centre (pun intended :)) taken over by a French company (allegedly). The millions they would need to invest means that this is great news as it would bring new life to the area and the entrance to to development cleaned up. The golf course(s) are essential and this kind of investment would mean they would not let the course go to pot.

2. The mayor says he has secured 4m + 1.7m bank guarantees for money to be sent on CE and according to him, this money is ring-fenced and effectively constrained to CE.

3. VV is coming to completion meaning that sometime soon we will regain the extra – social – alternative we had with Jags. Being Spanish run, it is doubly exciting as the GC is (currently) very ‘British’. We need to have the cultural alternative in this multi-cultural development. The menu will be Brit/Spanish - with perhaps an Italian Pasta/Pizza option on the terrace (allegedly)

Although I am excited at this news,and in NO WAY do I want to sound negative... but as friends will know in discussions, I am being a bit cautious regarding the timing of all this.

1) The current management have been given till April 1 to vacate. There are negotiations on this date... and there was a 'full staff meeting' late last week, but for me personally the ‘killer question’ is who has been approached for a job. No-one yet and that's only 1 week away. So I hesitate on TIMING only. Of course being a community there are other rumours as well - not worth publicising. But here in CE its biz as usual i.e ‘wait and see’.

2) The mayor has a history of promising goodies before elections never arrived.... The influx of voting Spanish makes CE more important than before. Especially as the mayor held on to a very slim majority. Based on the history I hope the opposition makes a strong play for the votes with a package that recognises the extra costs we pay and the lack of facilities we get. I certainly would vote for change if I could.

3) VV want to open before Easter. There is a week or 2 of work. But as usual they are waiting for some permissions from the town hall – heard that one before!

I think the news and outlook is good and we are all seeing an upturn and improvement, I am confident for the first time in years but cautiously so.

Lets hope that by Summer we have a clear plan for CE, Ayamonte and there will be the kind of investment needed by new business and also from the town hall. :fingerscrossed::fingerscrossed:

Jon

Re: Costa Esuri Update
 

Many thanks for the updates Jon.

Martin

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Its a different world not so far away, this morning I had details of a 1 bed 1 bath in Lagos ( western Algarve ) which ha just been increased to E85,000.
This is cheap for a resort property.

Re: Costa Esuri Update
 

Its called supply and demand,and there's lots of supply at Esuri,but they are selling,and at great prices,plus its a fantastic place to have a home and holiday,being on the border with portugal you get two enjoy both.

Ken.

Re: Costa Esuri Update
 

4). Do you know if they are still going ahead with the proposed water-world,
Which would also be a major boost for the area(including jobs etc). Regards:)

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:goodpost: Thanks Bryony, the photo I saw was on an agents web-site, your message and others below give me a lot of reassurance about my intended move and the misgivings I had have been replaced by feelings of anticipation.

This is a great Forum, I'm sorry I didn't find it sooner but glad I eventually did!

Best regards,
David

Re: Costa Esuri Update
 

Hi David, glad to be of help. Look forward to meeting you in the future. B


Irlanda, re the Water Park, work is anticipated to start this Summer and open next. Just waiting on paperwork we have been told :fingerscrossed:

Re: Costa Esuri Update
 

Lagos is a wonderful place with great infrastructure and beauty.

So this post isnt in any way about competition between areas.

Another positive sign here is that the villas on the golf course are nearly all sold now (in the 'Jags complex' - must stop calling it that!).

I saw a villa with an asking price of just under 140K! Detached house 3 beds (maybe 4) garden with pool possibility and on the course overlooking the greenery the river and the natural park in Portugal... and peaceful and with 2 countries/cultures on the doorstep!

People should really think again about the area as buying now has (IMHO) little financial downside and a huge emotional/fun upside. 45K for a 2 bed/bath appartment on the hill overlooking golf river and Portugal is a steal!

And hopefully what is helping to make this area 'up-and-coming'

Jon

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Sounds good. May do a detour whilst in Spain:)

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I have just seen this on Facebook

The person who has posted it is from the PP Party in the Town Hall




FADESA vende el C. Comercial y el Hotel d ‪#‎CotaEsuriAyamonte‬ a una empresa para que ésta termine y explote los mismos.

Ahora sí se abrirán y tendrá más vida Costa Esuri.

Sólo espero que el Equipo de Gobierno PSOE no ponga impedimentos, como siempre hace, a cada iniciativa empresaria. Espero que ya q no existe ningún impedimento urbanístico, se les concedan los permisos con la máxima rapidez para q cuanto antes generen empleo en Ayamonte y actividad en Costa Esuri.

@albertofdezpp: now Yes.

FADESA sold the C. Comercial & Hotel d #CotaEsuriAyamonte a company to be complete and explode them.

Now if they will open and you will have more life Costa Esuri.

I just hope that the PSOE Government team do not place impediments, as he always does, to each initiative entrepreneur. I hope that q there is no urban planning impediment, granted them permits quickly for q sooner they generate employment in Ayamonte and activity in Costa Esuri. (Translated by Bing)

Re: Costa Esuri Update
 

Can you post a link to the Facebook page guesswork? No mention of the golf courses though.

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I did try but for some reason its not a full url

Go on FBook and look up his name or Chris Truter

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Blimey - I agree with a politician. I hope he can get the votes needed to oust this current mayoral team we have had to put up with for years. Though I have to admit - I dont know the politics here..... just my own opinions and experiences of how the current politicians have IMHO ignored the needs of the CE electorate.... (and other concerns too, too much to mention here !)

Good to hear there is more justification to the rumours though. Ever hoping for a full plan to be known by the summer season... AND the 'impediment' stopping VV are sorted ASAP!

Jon

Re: Costa Esuri Update
 

Maybe something maybe nothing but MF looking @ 115million euro equity debt swap. Wasn't sure whether to post under this or Golf Club. There are a few links regarding this - with all the recent posts thought I would do a bit of googling - apologies if already aware...regards

Re: Costa Esuri Update
 

When Fadesa went into bankruptcy sometime in 2007 it was not as we would understand it in UK but more like Chapter 11 in the US or Administration in UK. they traded on under court supervision directed by a Judge. He released them from that supervision but they still carried Billions of Euro debt. This debt is reviewed every 6mths by the banks who made the loans. They have failed to meet their terms on the last 2 reviews.

In Spain you are not allowed to go into Bankruptcy again and trade they would be liquidated with all their creditors scrambling for what they could get. So now is a very dicey time for MF.

The liquidator of Amerych awarded the new lease to Esuri River Golf without the full agreement of MF who said they would follow that up in the courts. This has resulted in the current situation where MF have recovered their rights in the golf courses and the clubhouse probably their most valuable asset on Esuri. That MF should seek a buyer for the whole package of golf, hotel and commercial center is not surprising given their dire situation at the moment.

If there is a buyer in the wings they would want to carry out a very thorough Due Diligence given the history of MF. So things could take a while to sort out in the meantime are the banks going to wait, a debt for equity swap could be another stalling tactic until they can cough up some hard cash.

Re: Costa Esuri Update
 

Hi all,

I've received an email that originated at Gesprosur with a brochure attachment and these words

'Attached is the brochure from the company who has purchased the Golf Club, Mall and Hotel at Costa Esuri.'

Why isn't our Ayamonte Club shouting from the rooftops?

Confused.:blink:

Re: Costa Esuri Update
 

Perhaps Gesprosur know more about progress than MF WHO APPEAR TO OWN AND ARE SELLING THE COURSES we think!

Ps could you attach the brochure for amusement!

Re: Costa Esuri Update
 

Not sure if I've done this correctly. Hope you can see it

Re: Costa Esuri Update
 

This is a brochure that created some excitement earlier this week, but then someone pointed out that Le Golf are more of a "broker", offering discounted green fees once you have joined. Nevertheless it is still intriguing that Gesprosur made such a statement. Maybe something lost in translation??

Anyway, AliceB gave us all a sensible dose of reality about the whole situation, this week, so it's very much wait and see.

Re: Costa Esuri Update
 

Le Club is a product of a company called NGF Golf of France. They run around 40 courses in France but the Le Club offer is to get discounted Green fees at affiliated courses around the the world.

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Bearing in mind what has happened since and the date of this post, it looks like a very cruel and unpleasant April Fool joke.:frown:

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April has been a shittty month for CE, started by undelivered promises made by MF that I suspected were 'dubious' from the get-go (and got told of about posting about it, in PM). Then this mail from Gesprosur, a very respected company deeply involved in CE on 16/4, that I have to say, perked me up.

In a vain hope to be positive I say 3 words: Smoke - fire - Fitch!

Lets hope that there is 'something going on' and there's no smoke without fire.. though we will need to wait and be patient.

Did you see that Fitch raised the credit rating of Spain a couple of days ago? http://www.reuters.com/article/2014/...69806320140425 Once one ratings agency starts often others like S+P (that were involved in the financial crisis IMO, with their so-called triple-A products) normally follow.

Sentiment: Spain still has a long way to go, but at least its a step in the right direction

Lets hope that this sentiment applies to CE once VV is finally open! They are raring to go - and give local employment! Something a socialist town hall should want!

Jon