Hi Mark
Well done you for getting out of Bahama Bay - sounds like we must have gone to the same investment seminar as I bought in Playa Golf and Bahama Bay too - and later, Grande Palisaides.
Unlike you, I went ahead with Playa Golf but, like you, fell foul of Bridge Holmes.
I, too, got out of my Bahama Bay contract - not through any help by Instant Access I hasten to add, but by speaking to Maesbury themselves. Grande Palisaides sounds promising and it looks like I may well go ahead with that one but I think it is probably going to be a roller coaster of a ride - I need to really sit down and do the financials - but it sounds like it's going to be a stunning, well managed resort - exactly as IAP said - which is unusual. I have probably paid over the odds but in the long term this may not matter too much if it is as good as they say it is - I don't sleep well though!
Back to Playa Golf - well, you did ask, so presumably you want an answer - it's a great resort and it's well positioned to take advantage of a variety of activities so it meets the needs of most holiday makers. I took friends out there to look for a property in the area and they ended up buying on Playa Golf because it was so peaceful and tranquil. It has great potential.
But, you would have been in it for the long haul and rentals are not great at the moment and prices are down so it would very much have depended upon whether you could have coped with the strain in the meantime. I am now setting up a property company dedicated to Playa Golf - this was not in the master plan and has come as a surprise, but I have a great business partner who is going to live out in Playa Golf and run the property service on the ground. We are building a fantastic website at the moment which will promote the whole area and draw people to the area itself - which is a much easier task than trying to entice people to a single apartment. Our aim is that, by promoting the area and all it's history, culture, beaches and golf courses, we will entice tourists to the area itself and then we can promote our clients accomodation on playa golf. With the new airport due to arrive some time next year, hopefully numbers will go up.
We are completely committed to improving the rental situation within Playa Golf, primarily for our clients as they will get direct referrals, but also for the whole of Playa Golf.
However, as before, this is not a quick fix - this is a long term plan which will grow and build over the next few years.
So, I don't think there is a definitive answer to your question - it would depend on whether you could have managed the financial uncertainty in the short term. I am positive that in the longer term, Playa Golf will reach its full potential but pulling out will have given you time to put your efforts into something else which will have equal potential so it's a choice, but there isn't a right or wrong - you did what was right for you at the time and I am sure that you will have made the right choice for you when you consider all the other aspects of your life.
All best wishes in your next venture
Nikki
Playa Golf Resorts