Episode 57

Hi everyone
        Is there anyone out there feeling the same as me towards UGR la tercia at the moment. I have mixed emotions excited about my properties and dissapointed that the other facilities (golf course, pools etc) are not completely finished at the same time so has anyone had any experience with this or know exactly where we stand as in regards to the completion stage because i dont feel to happy completing on my properties without all of the other facilities hope to have some usefull info soon off some kind person
Kind Regards
B Lannigan

Bryan

The golf course will be open to residents as from March 2008. The Club House itself will be completed in approximately four months’ time, as will the Commercial Centre and Sports Area also. The access and surrounding areas in M11 and M12 are completed, as are the swimming pools. The development and properties from recent pictures we have received, is looking excellent with a good quality finish to the properties.

Just waiting now for the Certificate of habitation, from the town hall. 

** EDITED - Spam **

Davey 

This message was last edited by davey on 2/21/2008.

This message was last edited by davey on 2/21/2008.

Hi, I'm new to this Forum.  Have an apartment in Block 5 and currently visiting Spain to see the development.   Very disappointed with what is actually completed.   Apartments in stage 1 are allmost done and complete ready for completion by the owners.  But, the rest of the facilities will take another 6 months from my experience of other developments.   Club house, sports centre, shops, bars, restaurants, etc. will definitely not complete until well into Autumn.

The quality of the work in not in doubt as all the apartments are excellent build.

I doubt very much if anyone will be able to rent their properties out if that was the intention.   One question "Who would want to allow kids, etc., to run around a building site?"

I believe owners should be allowed to complete when everything else is available for living there.  The nearest shops are in the village of La Tercia and its hell of a walk.   So where are people going to get their neccesities?    All the owners should rally around and put pressure on the developer to come up with a compensation package as they have constantly said the phase 1 will be ready by Dec.2007, now its going to be Mar.2008 and realistically Sept.2008.    The developer is not fit to give a guarantee unless they back it up with compensation!   

I for one will need to finance for the completion and will be paying interest for a development that is not going to be usable for a good 6 months yet.


Would be interesting to find out what other owners feel.

I believe that what you are suffering is unfortunately a growing trend for Spanish resorts that include these types of facilities where the key focus remains on revenue form the sale of the propertiesm not the retails and leasure facilities as seen by the lack of commercial centres at Polaris Hacienda Requelme, La Torre and RODA Golf

In defence of the resort at keast it can be seen that the facilities are well under construction and that based on the standard of finish the properties are of a good quality

As far as not completion it depends on the wording of your contract and if it specifically references completion dates for the facilities as some owners agin at Polaris have refuse to complete and failed, on the basis of unfinished facilities

The pools are being filled and will be available for use in the peak period

You will have to have a car for this resort initally so that you can get to the local facilitues in Sucina abd Murcia

Normally early buyers benefit from lower priced properties and you may not expect the same level of rentals for the first year as adevelopment matures so you can often have to write off the early rental income

There are ground to refuse to complete if The Certiuficate of Habitation is not available 

I appreciate the logistics of building a complex like this and have no problem with things not being completed all at the same time.    However, part of the cost of the property is the location, i.e. facilities, etc.  In this respect I really do not want to pay up-front for something that is not complete yet.

I have some property in Bulgaria where the developer in a large complex did complete on time but the rest of the facility took time and left the owners not being able to rent.   Hence, the developer right from the start offered completion 1 year after the apartments were ready with 30% to pay at completion.   The owners could use the apartment, rent them if they could and so on during the 12 months prior to completion and receiving the title deeds.  

Spain is 20 years ahead in terms of maturity than Bulgaria, but it seems Bulgaria has overtaken Spain in less than 5 years!!!

Maybe, as owners we can put pressure on United Golf to pay in 2 stages.  A percentage now and then balance on completion maybe 1 year from now to ensure everything is in place to be able to stay at La Tercia.