AndyS

We have all been disappointed so often with rumours BUT this would be really great news and be a massive boost for Esuri. I shall await, with hope, for the official announcement. Any news on the golf club sale?

retireteed

Have the golf courses been sold? Has the hotel been sold? Why is it so hard to get a straight answer?

Jon-Bxl

Because no-one outside any negotiating teams knows.

These things take a lot of time to negotiate, and like any deal of significance, all discussions are obviously confidential.

When any buyer is ready to talk after signing on the dotted line, when they feel its right, we will know.

I love the rumours but long experience here in this region has taught me not to hold my breath..... Or get too excited.

Jon

tec

I think the Madrid supreme court decision last year is a game changer as it effectively bypasses the insolvency aspect of the problem

MikeJ

Could you explain this somewhat cryptic remark, please.

tec

In relation to lost deposits on off-plan Spanish property, the Madrid court held that the bank is liable with the developer. You can therefore look to the bank, instead of the developer, for any losses. Not sure this relevant to your circumstances but I hope this helps, it's a project I am working on. More info about the court decision at www.bankdepositrecovery.es under the heading Legal Remedy.

EsuriJohn

It is not any longer the affair of MF the sales of major assets is being conducted on behalf of the Liquidator by Knight Frank Spain if we hear anything it will be from one of them but I doubt very much they will be in a hurry or that they will sing it from the rooftops. It might slide out in the business pages of one of the serious Spanish papers.

Kath Las Colinas

I see that the hotel plots are on offer again. This time the one by the golf club is up at €600,000, the one nearer the river for €120,000 and the one near Las Colinas for €42,000. Lots of individual plots for less than €30,000. Lots of apartments, mainly on Las Colinas for less than about €60,000.

keithBT

I've tried all manner of online searches seeking info on whether the half built hotel was actually sold to Marriott grupo and so far de nada. Zilch anywhere.

Kath Las Colinas

Well, I think that the answer must be 'no' as it now being advertised fork. €600,.000.

keithBT

Seems like a lot of real estate for only 600k. I thought it would be a few mil !!!!

Jon-Bxl

I suspect its priced right as there must be a huge cost to first fix up all the damage caused by an open building for so many years - structural integrity checks and making all that good and only then finishing it off, may mean that the overall bill for completion wont be far off the price of a new build.

Just a thought, I'm no civil engineer. EsuriJohn will know better

Jon

feamkt

I just checked the PDF files describing each hotel, and the outstanding taxes and fees to be paid by the new buyer are very high!
The unfinished hotel comes to almost 1,4 million€ for example.

I was very disappointed by the recent meeting with the vice mayor, it seems as if they have no clear strategy for Costa Esuri.
And he did not bother to mention the Waterpark project at all, which had official EU financial support...

Paco

any news about the Hotel ?

The 12th of September finished the 2nd or 3rd attempted sale.

I hope we receive definitely good news !

guesswork

No nothing yet