Lets hope that 2010 is a more positive year

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05 Feb 2010 12:00 AM by sjh Star rating in Cornwall UK. 34 forum posts Send private message

  Well lets hope that 2010 is a more positive year in moving forward with the development.

The good news so far is that last week Steve Hindley confirmed that gas is finally connected to our appt, 1 year and 5 days after completion!! Yippee hot water next time I visit.

The mortgage rate also reduced to 3.25% from 6.75% so at least outgoing payments are reducing, but €21,300 in mortgage payments with not a penny(or cent) of income has been a tough burden.

I think anybody who has completed (on ME23) or soon to complete(Fairways) knows that they are in for the long haul before this development becomes what we all envisaged in terms of facilities and income potential but hopefully we (and Peninsula) will be around to see it happen, certainly in my opinion to late to jump ship now!

SJH



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SJH


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06 Feb 2010 5:55 PM by reds Star rating in Bolton, UK. 15 forum posts Send private message

Hi All,

like SJH we will have been completed a full year on the 5th March 2010.  Glad to hear the gas is on, I think SJH is on the same part of the development as we are. Medina 23 ,  Block 4 portal 16.

I was told that the LIFTS will be working soon after the 8th, that a team is coming on sight to comision them at last.

I agree it has been a long haul, we too have paid out 11 months mortgage, with nothing to show......

Lets hope Peninsula do get their skates on now and get the site back on track and make good all the promises, we have had over the past 4 years.

Reds




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09 Feb 2010 9:06 PM by hosilverlining Star rating in Property owner in Gr.... 173 forum posts Send private message

Hello All

I'm interested in hearing from anyone who has already completed in ME23.  I have given up trying to navigate all the different threads on Golf, Fairways etc to keep up with information about what is happening on ME23 ,and for those of us already committed to paying a mortgage and looking for a good outcome from our investment, I think it is important that we are able to talk to each other and share information. 

We have visited the site once or twice a year since it was a piece of bare land with a crane and some fencing... it has come a long way since then and on our last visit looked great, although we are of course aware of the major hurdles that need to be overcome before we get a return on our investment. 

Can any owners who are interested please send me a pm, to see if we can establish a good way of communicating with each other? 

 




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20 Feb 2010 4:55 PM by white knight Star rating. 9 forum posts Send private message

Hello All,

I am also a Medina 23 purchaser and have been paying a mortgage for over 14 months now. I don't know what to add to what has already been said. To be fair to peninsula they have delivered what looks like a good product and the finish and landscaping looks good.

What they have not delivered on is the lifts, electricity, gas etc and most importantly the rentals have been non existent. What surprises me is that they are expecting other buyers in this and other developments to complete when they have reneged completely on their rentals commitments.

On paper this should be a no brainer and the apartments should be producing rent but this thing seems to be going in circles. I look forward to 2010 with some hope but not much expectation. Once cant help feeling that peninsulas current musings on rentals and rental structure is an attempt to create a marketing illusion around rentals to benefit their own sales and marketing rather than anything real to benefit actual owners paying actual mortgages.

 




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11 Mar 2010 1:03 PM by reds Star rating in Bolton, UK. 15 forum posts Send private message

Hi All

Reds here -   owner on Medina 23.  I am trying to get in contact with anyone on Medina 23 who has paid for funriture but NOT had it installed yet.

Seems that in the transfer over from Margaret Corley and Royal Peninsula to the new Peninsula Resorts, some of us, including me,  have their furniture order in limbo.

Can you send a personal message to me with your contact details we can then see if we can do anything together to get this mess sorted out.

I am visiting the site March 28th,  if anyone wants anything checking out whilst we are there please let me know.

Reds




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24 Mar 2010 10:37 PM by MedinaGolfBuyer Star rating in Midlands UK. 23 forum posts Send private message

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.

 




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Previous Threads

NEWSLETTER - 1 posts
Furniture pack for sale - 0 posts
Progress on furnishing and utlities at ME23 - 7 posts
Gaspar Lino issues threat of legal action to ALL purchasers to bully them into completion - 2 posts

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