Progress on La Isla - comments..??

Hi all,

Here is a copy of a communication that I recently sent to Polaris for comment. I am really trying my best to remain positive but the more I am reading regarding the facilities on Condado the more I am getting disappointed.

I signed up for an off-plan development called La Isla Condado with Polaris World in June 2007. I purchased the off-plan property for 182,400 Euros. The only things that prompted me to purchase on Condado was the idea that Polaris World marketing literature and campaign was ultimately selling these properties at that time.

I am quickly approaching the period that I will be expected to complete but I am disappointed with general progress. The property itself will no doubt be very nice once complete but there is such a serious lack of facilities that I was expecting and what ultimately prompted me to purchase on Condado.Here is how the property was described to me and what made me decide to buy on La Isla. My response is in BOLD:

La Isla del Condado is a very exciting new resort of apartments situated on the island on the lake that is located in the centre of the overall Condado de Alhama resort between the Signature Nicklauds Golf Courses and is offering superb apartment properties at great prices and with the usual excellent Polaris World payment terms. 1 GOLF COURSE IS DUE FOR COMPLETION IN NOVEMBER 09. THE GOLF COURSE THAT MY PROPERTY IS SUPPOSED TO LOOK OVER THAT SOLD IT FOR ME HASNT COMMENCED AND NO-ONE AT POLARIS CAN TELL ME WHEN / AND IF THE FINAL 2 COURSES WILL EVER GET DEVELOPED? THIS IS VERY WORRYING AS THIS WAS THE KEY SELLING POINT FOR ME.

All La Isla del Condado apartments come with frontline views of the lake and stretching to the Oasis resort centre and green lush golf courses beyond. AS ABOVE NO-ONE AT POLARIS CAN CONFIRM IF THE OASIS WILL EVER GO AHEAD? I UNDERSTAND THERE HAS BEEN A HUGE DOWNTURN IN THE ECONOMY BUT ULTIMATELY IF THESE FACILITIES ARE NOT TO BE BUILT BY POLARIS THEN I HAVE BEEN MIS-SOLD A PROPERTY DUE TO FALSE ADVERTISING.

The La Isla del Condado resort will have its own facilities such as restaurants and bars and will also offer infinity pools located around the resort, residents can benefit these luxury contemporary pools with the feeling of being in the vast lake beyond. THE PROPERTIES ARE APPROACHING COMPLETION BUT FROM POLARIS HAVE TOLD ME THE FACILITIES ON LA ISLA HAVE NOT COMMENCED AND THEY CAN NOT CONFIRM IS THEY ARE LIKELY TO COMMENCE OR NOT? I WAS EXPECTING TO HAVE A MEMBERS BAR, ETC, BUT AGAIN IF THIS IS NOT TO HAPPEN THEN HOW CAN THEY GET AWAY WITH THIS.

The apartments will number only 396 in total and will consist of both 2 and 3 bedroom properties sized between 66.8m2 and 97.8m2 built and all with come with great sized terraces ranging from 18.5m2 right up to a vast 67m2. ACCURATE AS FAR AS I CAN TELL BUT I HAVEN'T RECEIVED MY COMPLETION INFORMATION AS OF YET SO UNABLE TO INSPECT.

What concerns me is that I am still expected to pay exactly the same amount for a property that will over look fields and orange groves instead of a Jack Nicklaus signature golf course on 1 side and the Oasis shopping centre on the other. On top of that the bar won't exist on La Isla and the Foro town centre has now been moved in between where the oroginal place was planned and in between where the Oasis should have been built so it makes me wonder the Oasis is all that will get built.

On top of that the golf course club house won't commence build until at least November 09 as no planning has been passed apparently.

In short I will be paying top whack prices for a property that has virtually none of the original facilities available for me to use and benefit from. I appreciate I have signed a contract regarding the property itself which Polaris will no doubt fulfill but if Polaris have failed to provide the facilities as per their marketing literature stipulated then I will understandably be very annoyed.

You see so many unfinished developments in Spain and I need some kind of reassurance that CDA will not end of the same.

I struggle to understand how Polaris can get away with change controlling elements of the development when it suits without any prior communications with any of the people that have trusted their hard earned money with them. I would like to know where I stand considering all your marketing literature indicates far more in terms of facilities than they will be providing when I complete.

Thanks,

Mark

Unfortunately I think you will find that these are the issues with buying off plan, they can change things. That became clear with the Foro and Agora shops situation. Really you buy into an idea or a proposition and if  lucky it comes together 100% otherwise you have to accept tweaks and changes or delays. Coupled with that is the downturn in the market and PW aren't going to build or develop things they cannot afford. Through friends who are property agents I know of several people who tried to use 'mis selling' to be released from their contract when the 2 pools didnt appear in Jardin's 5 and 13, and they have been unsuccessful. Plus others on MIrador who havent even got a property and didnt want to swop to Jardines, Penthouses or Isla- and have used that same arguement unsuccessfully.  I do know developers are presently very wary of reasons people are giving for not wanting to go ahead with purchases. They are fully aware people are often no longer in a position to buy, or not confident about their purchase but want to use suggested failures by the developer as a reason to cancel and get their deposit back.  On top of that PW have a legal department geared to managing these situations which they have come up against many times, they know how expensive it is for individuals to take them to court and because of how long it takes and that most people bow out. My understanding is each case is heard separately with no precedent folowed from previous cases- when/if it eventually gets to court.

Lots of developers have walked away from projects or gone bust so at the moment we just feel PW seem to be trying to get the resort up and running with some facilities for residents or if people plan to rent out. We had the '10 year plan' put to us several times when we started looking at CdA and I suppose it looks like thats how long it will really take.

I have to say if they run all their bars like the surgery I'm not surprised they dont make money and why they have few customers in them!
 

Mark

Your frustrations are understandable, but think you need to apply some realism.  Noone saw the credit crunch coming.  Not PW, nor us.  Lets be honest, had we seen it, how many of us would have gone ahead as we did?  Had things been different, I think PW would have done majority of what they promised, but with the economic downturn, they have had to adjust their plans.  As commented below, one of the risks of "off-plan".

I'm on jardine 5 as was disappointed to lose pool 2, and the Foro at the end of the sports zone.  That said, I understand the changes, and remain happy with what PW are doing.  In time, I think economy will pick up, and development will progress into their flagship site.  Fully expect to see 3 golf courses, and Oasis...eventually.  Patience is what is needed.  Fortunately, I never bought in as a short term investment or for rental only.  This is my holiday home, which I am happy to share with a few friends and family to cover a few bills.  As each year and visit passes, more and more will develop on the site, and that itself makes my interest all the more captivating.

Give it time, and get into your apartment, and I am sure you will soon come round to the same thinking.  Compared to others awaiting for their apartments to appear out of the ground, you are actually better off.

In time, it will be a fantastic destination, of that I am sure

I agree with you fozzie and its true to say there have been frustrations and probably will be more if RPM dont run the resort properly and get these community charges sorted. Its not even quite a year since the 1st completions though and we didnt even originally expect to be in until Feb 2009. Just have to hope PW are pacing what they are doing correctly and will go on with the club house, the other golf course, the golf suites and villa's and eventually the Oasis.

On returning to work after Easter a work colleague who had also holidayed in Spain (costa del sol area) said that alot of the conversations they got into on the holiday had been the problems in the building trade and retail trade and that several people had told them that PW had gone under, had gone bust. Unfortunately that sort of rumour/belief cant be helping PW continue selling.

Rome wasn't built in a day .............

Hi Mark,

Sorry you feel so frustrated about La Isla and CdA in general.

When we went out last year and bought our Garden apartment a number of important things were told to us by our Agents.

CdA is a 10 year plan. Its the biggest and will surely be the best PW resort so do not expect everything to be done quickly.

The area for the 2 Two bears courses and the Mirador properties had only the spainish equivilent of "outline planning consent" at that time. (Not sure of the position now) However all the indications were that everything would be granted.

The golf club house will be a wooden temporary building ready for when the course is playable, they have done this on other resorts, followed by the proper club house.

The Oasis will be built on the site in conjuction with Murcia council as it will be the largest retail development in the area, but remember this is spain and thing do tend to move slowly.

Considering the current economic climate I think CdA is a stunning development and if you and the rest of us are patient we will see the resort completed by PW with most of the facilities we all want.

PS when we were over 2 weeks ago the lake around La Isla was being flooded and I think it will be stunning when finished.

Hi Mark,

I have spoken to a woman this afternoon who has paid 30% deposit towards a property that was supposed to have been finished last October and she was saying that the builders haven't even started buliding her property yet and along with other purchasers she is taking them to court, but she doesn't hold out much hope.  This puts your moans and groans into prespective, I certainly would not be complaining about anything.  As I have said previously this development was sold to us as a 10 year on going development, PW never promised that everything would be on site immediately and for you to think this would be the case is very naive.  The next golf course I believe is due to start after the main one is complete,  please give them some time to put there plans in place.

Ali 

Mark,

I am sure we all share some of your concerns.  I recall getting a little panicky last year when we were given notice to complete on our apartments in Jardin 12 - at that time, there was no sign of the golf course starting, no sign of the Foro, no bar on site - all we had was apartments, swimming pools, gardens and a small supermarket.  However, once we visited the site and saw how lovely it was, and how it mirrored exactly the artists impressions, we were over the moon with our own little piece of Spain. 

Yes, there are still some concerns about what will be built and how long it will take, but so far PW have delivered most things that they have said they will - albeit later than originally anticipated.  The things that have not yet been delivered are still in the project plan - they are just postponed.  At the moment, I am not aware that PW have categorically said they will not build the Oasis or will not build the other two golf courses, or will not build the La Isla snack bar.  When and if PW actually say that, then we may have cause for complaint.

I have noticed over the last few weeks that you have posted a number of questions clearly seeking reassurance from other forum members about what will be built at Condado - we cannot offer you any guarantees.  All we can say is that we have to remain confident and believe that PW will do their best to deliver in what is currently a very difficult economic climate.

All I would say, is that constant negative comments and questions appearing on the forum are not particularly helpful for two reasons.  Firstly, there may be prospective buyers viewing the forum who may be put off and that is not in our interests or PW as we need as many people to buy as possible!  Secondly, other people will become anxious and concerned and that is when unqualified rumours start.

We stayed at Condado for two weeks last August, with just swimming pools, gardens and a supermarket, and we had a fabulous time.  It can only get better, so stay positive!

Debbie