Great news for La Torre Golf Resort

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24 Dec 2015 14:09 by newworld Star rating. 937 posts Send private message

Fantastic news for La Torre Golf Resort - we have been informed that the hotel has now been sold. Details of the new owners will be disclosed in the New Year and we would expect the hotel to re-open during the first half of 2016. This is great news for the resort but there is more:

La Torre golf resort community has been paid in excess of €2m in cash and accepted a number of assets on the resort as payment for outstanding community fees owed by Polaris World. The assets include the tower entrance, parking spaces and the tennis courts and pool between phase 1 & 2. The total package is worth over €4m to the community.
La Torre resort will start 2016 in a superb position - the resort finances are back under control, the community fees are being reduced next year and re-painting on some of the apartment blocks will commence in early 2016 too. We believe that 2016 will be a superb year for the resort. Now is the time to snap up a bargain here before prices rise - see LA TORRE PROPERTIES for info.


This message was last edited by newworld on 24/12/2015.

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27 Dec 2015 01:04 by hugh_man Star rating in Kent/Roda . 1593 posts Send private message

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Good news indeed for owners.

Any idea if the agreed settlement was paid after Court Action or if it was due to pressure from the Administrators of the Community?

Where on earth do Polaris find 2mill cash from, I thought they were bankrupt?

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27 Dec 2015 21:41 by DuncanMcG Star rating in Manchester, UK. 377 posts Send private message

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Hi newworld,

That certainly is great news for the La Torre Community. I hope they come up with a similar deal for Las Terrazas de la Torre.

Like hugh_man, I am also surprised that they managed to come up with 2 million euros in cash.

Didn't the hotel belong to Sareb?

This message was last edited by DuncanMcG on 27/12/2015.

Never wrestle with a pig. You will both get dirty and the pig will enjoy it.

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28 Dec 2015 12:35 by newworld Star rating. 937 posts Send private message

Yes the banks owned the hotel in the end, Polaris owed a fortune in unpaid community fees, so hopefully going forward the new hotel owners will be paying community fees,which again is only good news for the resort.

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29 Dec 2015 10:12 by mariadecastro Star rating in Algeciras (Cadiz). 9336 posts Send private message

Legal Questions? Speak to Maria Direct

Good news! Life coming in!


Maria L. de Castro, JD, MA



El blog de Maria

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