Court probes Granada golf complex

I agree. This is a concern.  Hopefully Sharon can give us here assurances that all the planned building will go ahead and the resort will be completed as advertised.

The resort will definately not attract the necessary business with out a hotel, same for riding school and development of the lack and sports centre.  With out all this then we have a red herring 15 minutes from Granada city when there are far cheaper resorts equally lacking these facilities aailable.

Time for public assurances please and an email or letter to clients wouldn't go amiss.

Hi All

I have just been down at Elvira last tuesday to play golf and see how everything is going. Work is progressing on all blocks from what I could see. Clubhouse complex is open but restaurant/bar is not. Clubhouse looks great and very spacious. Pro shop is beginning to stock squipment etc. Swimming pool for suites was being prepared for pouring of concrete. Apartments at suites are nearly complete. In my case wooden floors are being installed at present. workmanship looks excellent as far as I can see. windows/wiring/terraces complete. I still reckon a couple of weeks left before intallation complete.

Golf course greens are the best greens I have played in years. Holes 2 to 6 fariways and rough will need more work and this seems to be ongoing. Rest of the course looking great. I have some pics if people want to see. contact me  famroc at gmail dot com if you would like some photos.

hi All

I have posted some photos of Suites and the golf course on the site.

Famroc

Hi Famroc and thanks.  Are they the July 08 photos in the forum Medina Golf?

Hi

The photos of the clubhouse and its environs were taken on Tuesday 2nd June 2009. We played golf there last week.and I can only tell you it was hot. The two course shots are from October 08 when we played golf also. Its my third game there in 2 years and the course is improving. The temp. structures at the driving range are no longer in use and the golf facilities are run from the new Clubhouse and offices. They had some flood problems in spring because of the heavy rains and it caused some damage to a few holes. Most of this has been repaired.

According to  information given to my lawyer by the developer,Tee 17 will be ready  this month and we should be prepared to complete in September..

According to Peninsula,this is total rubbish and the apartments will not be ready until the end of the year. Why there is such conflicting information remains a mystery ,as apparently the two parties have been unable to communicate with  each other.

I am sure Peninsula are right.....but  all this confusion is hardly helping at a time when we're all concerned about our investment..

Hi Seagull

I would be very surprised if Tee 17 is finished this month. There is work going on there and it seems to be internal but i cant see it being finished in the short term. There was work going on all the blocks that I passed by while playing golf but none seemed close to habitation and that is the important thing. Apartments may complete one by one but financing will delay a number of completions.

Tee 17 was certainly far from complete the last time we were there.....which is why it is so irritating and illogical for the developer to insist it will be ready very soon.

I have asked Sharon at Peninsula to clear up the confusion,but she says they have been unable so far to obtain a reply from the developer,which ,as I said earlier,is not helping ease buyers' concerns.

A month or two's difference in what both parties predict for completion wouldn't really matter.....but at the moment their respective assessments seem to be at least SEVEN months apart,which is rather bewildering!!

If peninsula are unable to obtain a reply from Proadis about completion then I am extremely worried about the future. 

My place in Medina "Golf" is due completion this summer yet all I have received is a vague email telling me this from the solicitors with no deadlines no certainties no guarentees that the hotel is even going to be built let alone the riding school or lake development. 

I have also been reliably informed that the chair lift from Granada city to the ski slopes is cancelled and that the airport in Granda wont be expanding to take easyjet etc from UK etc after all.

All in all this recession seems to have wiped the smile off our development and kicked us in the proverbials.  I cant imagine for a second what impact all this has on the capital value of the appartments so no doubt I might as well be throwing away my hard earned saving on this one - gutted!

Whoa....hang on The  Looney....it's not that bad!

Just read earlier postings regarding the golf course,club house ,international school etc......yes,it will take time,but  I do think we all need  to be a litle bit patient and remember why we all bought at Medina Elvira in the  first place.At the moment the values for completed apartments on the early developments are at least as high as the purchase price....the ski-lift and easy jet access etc were only bonuses  and not guaranteed......let's stay calm and remain positive.

It still remains an outstanding development potentially.Communication certainly could be better,but hopefully this will improve in due course.

However the rental income was (and still is) specified as being guaranteed.

Do you think the rentals aren't going to be guaranteed then?

That is certainly not the impression they are giving.

I think that we need to be given more than just the "impression" that the rental schemes will work.  Where is the actual evidence?  What are the consequences for Peninsula or Royal Peninsula if you do not recieve any rental income in the first year or two?

I agree, which is why I wantto see the resort completed as advertised.  That way I believe I can achieve the rental necessary privately as it will have alot to offer. 

The rental scheme offered, once tax and peninsula fees have been deducted, will barely cover a third of each months mortgage.

I dont want to rain on anyones party here but without these other essential parts of the complex then once the "guarenteed" rental, if it is that guarenteed has expired - what will you have?

I was looking toward variable rental by using the management company there to prepare the appartment for my own rentals.  However, without all the good stuff it is going to be very difficult for me to sell.

hi all

i was out there last week, having experience in developments, i can tell you there is no way that medina golf will be finished in the next couple of months, some of the apartments are finished but there is 150 to complete in total, so they would need to be finishing 2-5 apartments per day!, not possible. in my opinion we will be completing at the start of next year (just my opinion). on the positive side the finish looks good, also the fairways apts look really nice. 

i would like to think given the location, spec and quality of the apartments that the values are holding well, all things considered.

Thanks for that donefor.  I was planning a trip out myself to check the finish before signing mortgage etc. 

I just watched a scary program about developers in Spain not completing planned projects which only adds to my doubts about the development fulfilling it's promises.  I can imagine a couple of blocks being complete and an unfinished buildig site being left being - worst case.

No wonder then that no pressure has been applied for us to complete.

I saw that program too, I also think there is a risk of one or two developments being left in an unfinished state, however Medina 23 and Fairways will certainly be completed and from what I have seen of price lists on most of the large developments it looks like these will too, so I doubt very much our resort will end up the nightmare scenario that we saw in that program, perhaps some of the very small developments may end up like this, but we have the benefit of much larger developers with more cash behind them, otherwise I am sure they would already have all gone bust!

Now we just need some good evidence of the guaranteed rental scheme working and then for me there will be no worry whatsoever as this will cover the time needed for Spain to get back on it's feet and most of the facilities to be completed. We know the sports centre will be publically funded so I would think this reduces any risk of it not being built (although it won't be as exclusive as we initially thought), and shops will just be a matter of time for rentals and demand for goods to build up. Until the rentals are proved however I remain very cautious...

While as a merefellow purchaser, I obviously can't say for certain that Medina Golf will be finished when Peninsula say, I think you will be suprised at how litlle time it will take the builders to fit out all the apartments. 

I visited on 14 May and there was still a lot of work that looked to be done. The site was buzzing with people, cranes and building materials were everywhere yet Peninsula said it would be finished in June. When I returned home with my photos and described the scene to my husband, who has worked in the new house building market in the UK for many years he said it would never be finished in one month. However we visited again on 10 June and couldnt believe how much had been done. We went to see our apartment and it was completely finished except for the Kitchen. (Laura has told me this is always the last thing to go in as it is easily damaged when snagging etc is being rectified). When we visited 3 weeks earlier it was plastered but looked no where near finished with pipes and leads hangin out fo every part of the rooms, but now it is complete.

All the cranes have been taken down, all the building materials removed, the pool area has been tiled and the pool filled, the gym and the retail units have been glazed, all the signage for entrances and lifts has gone up, the apartments have been renumbered, cleaned and finished. The interior and exterior finish was very good and to a high standard, believe me we checked! The security entrance code pad was up and running, the lifts work and the site was being patrolled. All the communal areas were clean and finished and the garden areas have been cleaned up and rotavated ready to receive the planting which will take a couple of days at most. The only things that hadn't been completed were the boundaries for the garden apartments, but they were pegged out ready to be done and a few skeleton building staff were on site finishing off. Medina 23 was also looking great. Very clean and well maintained with some residents.

Having said all this I suppose it still depends who your builders are whether they decide to throw all the resources at it in order to complete quickly.

Also I can report that the new (scarily high!) route to Motril onthe coast has been completed and it has cut a considerable amout of time off the journey to the beach.

Hope all this info gives some people a boost. I do agree with another contributor that it is important to remember why we bought there in the first place, and as I have been lucky enough to visit many times since we signed on the dotted line, every time I go back I am stunned at how beautiful it all looks. I too have had some worries and concerns in the last 12 months about the purchase, but now if i get wobbly i just look at the picture on my mobile phone, the view from our balcony!

Hi all,

are we all talking about Medina Golf? If so I don't see how vrawlinson and donefor can be talking about the same place. You where both there around the 10th June, and seemed to have had totally different experiences. Donefor says it won't be completed for months ("there is no way that medina golf will be finished in the next couple of months"), vrawlinson says it's basically finished! Have I misunderstood someone?

cheers,

AIS