Hello everyone,
Last weekend I visited Medina Elvira with another client. We met Steve Hindley and took plenty of photos of most of the developments.
I wasn't able to download the photos here so they are on this page:
http://cid-7f7a8054051f6525.skydrive.live.com/browse.aspx/Medina%20Golf%20Mar%202010
News from the site then:
- As a Medina Golf purchaser I was very disappointed. There doesn't seem to have been much progress in the last 6 months.
- The finish standards were quite poor and at the moment I would say that without a huge workforce the Habitation Licience is at least 6 months away.
- Some piping has been delivered which Steve said would be to take the sewerage away from the site although works on this has not yet started.
- We found no sign of your riding school Jetdog (I was looking forward to some good photos). Steve Hindley didn't even know where it was but said it was built years ago.
- The club house is quite impressive and everything seems to work.
- The landscaping is terrible everywhere. I would be shocked if I were a tourist. Much of this has been delayed by such a wet winter.
- The electric pilon is an eyesore. Steve said it would be moved but a Spanish employee on site said that would be extremely unlikely as there isn't any money for it.
- There is very little security at the moment.
- The 12 villas will not be built.
- ME23 looked OK. Paint had been damaged by the rain, lifts definately didn't work but in general it looked fine. What Peninsula really need is for other clients to move here and complete.
- If enough clients complete here then perhaps the new rental program will be able to operate. Steve said this will operate at 4% guaranteed rental and give access to your own apartment for 2 weeks a year for 50 euro a week.
- Peninsula can and have been offerering ME23 apartments at a discount due to people losing deposits and not completing after the licence of occupation has been issued.
- Although Peninsula are not aparently related to Nadasol (the builders in administration for Medina Golf) they can still cancel your PPC with them and move you to ME23 or another development.
Sorry if this is a bit harsh in places but I think being direct is best. The site with the pictures is public so anyone can coment I think. A lot of people on this forum seem to be in the dark with things so I recomment that you also take the trip. Don't expect lunch or even a coffee though. Steve Hindley was very good to meet us and seems to be the only person genuinely interested in making progress here but I dont think he exactly has the cash to splash.
I stayed at Fuengirola and have to say that talking to the locals the Costas are certainly suffering. I met an estate agent who was closing his business and cleaning out the shop. He stated that although clearly no one was buying, very few people were willing or able to sell at lower prices hence he sold up before going bust. Steve said that prices in Granada were holding up and that good valuations wouldn't be a problem on our properties. I think people there are living in a dream and that by the end of 2010 things will be in a desperate state in Spain but we will see. At least Granada should be more protected than the costas from any further downturn anyway as building has been more limited.
I agree with Steve that the most important thing for the development is the commercial centre. Without this there is no future to the development. I wish the developers would also realise this and concentrate their efforts in that area. Perhaps then the site may come alive and people could realistically live there.
The site still has the potential that I saw in 2006. Perhaps less residential properties and more care over what is there now should be going on to realise this though.
I'll sign off before you all fall asleep now and get back to my ironing LOL.