Sale of hotel & golf courses
 

Have heard from a friend today that, and I quote, 'seems like the Hotel & both Golf Courses have been sold'. Can anyone else confirm this? Regards Bryony

Re: Sale of hotel & golf courses
 

Is it true ?
No comments ?
:(:confused:

Re: Sale of hotel & golf courses
 

Martin Fadesa en liquidacion, after a public tender process, published that an Spanish entrepeneur had payed the deposit for all the real state mentioned.

Now I think there is four month period to sign the final contract and take all the business

Re: Sale of hotel & golf courses
 

Fingers X'd then 😊

Re: Sale of hotel & golf courses
 

The saga should have ended on Tuesday but no news yet.
The sequence was a final advert at a fixed price of €200,000 + debts about €2m about 4 mths ago. This was “won” by Hydrocarbon (Malaga) and was published by the liquidator together with the total IBI, EUC debts. However this being Spain that was not the end of it! Three more adverts at the same price followed. The last one closed and it is known that there is a winner who has paid €4m (€1.07m IBI, €0.72m EUC, the rest for the hotel, golf clubhouse and both golf courses) conditional on signing at the notary last Tuesday to avoid an increase in IBI&EUC costs.
The bidders still in were a Chinese investor and a golf course operator from Malaga/Marbella. We have no news yet which one has won or if the signing happened so we are not holding our breath.

Re: Sale of hotel & golf courses
 

Thanks John 👍

Re: Sale of hotel & golf courses
 

Thanks for the update John, it’s good to get a bit of substance around the rumours. If you hear anything definite perhaps you would be kind enough to post it here. Best regards to you and Kath.
Andy

Re: Sale of hotel & golf courses
 

What happens with the Commercial Center, is auctioned separately ?

Re: Sale of hotel & golf courses
 

They are buying the share capital of the 3 companies that Fadesa moved the assets into

The companies that are being bought are Baranda Azul , Lamps sa and TR2 sa

Re: Sale of hotel & golf courses
 

Blimey, Ayamonte local council must be celebrating receiving an injection of of 1,070,000 euros IBI tax, - especially as they did zilch to receive it. Perhaps they will fix the lighting from the Mway to the bridge . Ha,ha.

Re: Sale of hotel & golf courses
 

Has anyone got an update on the rumour or is it just another one that has died? :fingerscrossed:

Re: Sale of hotel & golf courses
 

No news at the moment

Re: Sale of hotel & golf courses
 

I wish the new owner Merry Christmas and Happy New Year ! :wink_smile:

Re: Sale of hotel & golf courses
 

and a prosperous New Year ;):thumbup:

Re: Sale of hotel & golf courses
 

I hope it !
No more rumours !:(
No more disilluision ! :unsure:

This is the best Christmas Present for Costa Esuri ! :nod:
I wrote it on the wish list for Santa Claus ! :fingerscrossed:

Lets move on to the action ! :thumbsup:

Re: Sale of hotel & golf courses
 

I wish I could share your optimism !!

Re: Sale of hotel & golf courses
 

You can do it.
Send a letter to Santa Claus and pray to receive it.
Hope is the last thing you loose.:fingerscrossed::starsmile:

Re: Sale of hotel & golf courses
 

Hopefully it will be fulfilled and bet really hard and return the old team of aymerich golf workers

Re: Sale of hotel & golf courses
 

I seem to recall reading somewhere on this forum ( but have not found it) someone saying that when a building has not been finished such as the hotel, the developer or subsequent owners have only ten years from when construction ceased to complete it. If this is not the case, the building has to be demolished. Does anyone else recall this, or is it merely a figment of my imagination????
It must be very close to ten years since construction ceased, hence I wonder what the situation is regarding finishing it. I know nothing about Spanish building regs, but I recall skeleton blocks of flats being torn down on the Costa Blanca where the developers went bust in the early/ mid 1990's.

Just a thought !!

Re: Sale of hotel & golf courses
 

Building stopped 10 years next March

Re: Sale of hotel & golf courses
 

This sort of law exists in Portugal but I don’t think Spain has a similar law. The blocks being demolished on the CDS have fallen foul of other planning and zoning laws and it takes many years for the loca authority to actually get them demolished. There was the famous case of a hotel built right on the beach in a conservation area and area of outstanding natural beauty that was to be demolished after much legal action and successful cases before judges but I am not sure evan that has gone!

Re: Sale of hotel & golf courses
 

having lived for many years in Portugal; money talks...

Re: Sale of hotel & golf courses
 

Hi. I have heard that the sale of the golf course and the hotel is already signed. Do you know anything?

Re: Sale of hotel & golf courses
 

Without being rude, is your source authoritative or just another wishful thinker? I'm afraid these rumours have been circulating for years.

Re: Sale of hotel & golf courses
 

I heard it from a person

Re: Sale of hotel & golf courses
 

Hi Cocoloco ?, Yes, but is this person in an authoritative position, eg, the abogado, or directly involved with the negotiations, or from the ayuntamiento or similar. Anything else is pure optimism & speculation. I WILL believe it only when it appears in the local spanish newspapers.

Re: Sale of hotel & golf courses
 

Apparently the deeds were signed at the Notario in A Coruña on the 21/12/2017. Which was the known date before Christmas. Just not revealed who has made the purchase. Why?

Re: Sale of hotel & golf courses
 

listen to a chinese businessman

Re: Sale of hotel & golf courses
 

Thank you very much for your informative answer.

Re: Sale of hotel & golf courses
 

Nice one:):).

Re: Sale of hotel & golf courses
 

Chinese whispers...

Re: Sale of hotel & golf courses
 

When will we finally learn the truth ?
Always new hopes ! :(
I hope 2018 is definitely the year of change !
:fingerscrossed:

Re: Sale of hotel & golf courses
 

H2O just posted on their facebook page that they've signed another contract to keep running the golf course and club. Mind, that contract could be with new owners?

Re: Sale of hotel & golf courses
 

His honour the Mayor in a meeting with owners and residents last night on a bitterly cold terrace at the GC said inter Alia that the contract for the sale of the remaining assets of MF had taken place and the assets would be transferred on the 20th February from the liquidator to the new owners. Who are, wait for it, a group of business from The Extramadura and Salamanca. He understands that their first priority will be the completion of the skeleton of the hotel. From that we may conclude that in about two years from now there will be a hotel open on Costa Esuri. No mention was made of the golf courses or the golf club. Javier was in attendance and stood at the back throughout and did not speak.

Re: Sale of hotel & golf courses
 

the plot thickens!! :-)

Re: Sale of hotel & golf courses
 

John,
Who or what are the Extramadura and Salamanca please?
Thanks
Andy

Re: Sale of hotel & golf courses
 

they are geographical regions north of us arent they?

Re: Sale of hotel & golf courses
 

The Extramadura is a comunidad (like Andalucía) to the north west of Andalucía, Salamanca is a Province and city to the north east of the Extramadura.

Re: Sale of hotel & golf courses
 

The “transfer” will take place between Martinsa-Fadesa in liquidation and the consortium of business men from north of Ayamonte.

Re: Sale of hotel & golf courses
 

Thanks John, I’ll look forward to them bringing their hotel expertise to CE then!:)