Latest progress at Medina Golf

Like many others on the forum, my husband and I are very disappointed with the general state of play with this development.  We have reserved a one-bed apartment in Medina Golf.  We visited in July and found that progress has been made but there is still a lot of work to do.  The estimated completion of Sept 2009 is unrealistic in our opinion.  Builders were on site but there was not much sign of life from anyone else around the whole development.  The beautiful Medina 23 complex was deserted and felt like an abandoned ghost town. What a real shame.  The clubhouse is open but again, it is like a ghost town.  The bar and dining room are not operational yet - obviously because there are no customers! 

 Hi Netti

It is obviously very concerning that you are having to make your first posting to this forum because of your concerns over the development. I can only advise that as an existing owner at ME23, who with others is very concerned with the lack of progress on either of the rental options and the poor communication from Royal Peninsula, that to any potential owners on Fairways, Tee 17 and Golf DO NOT COMPLETE UNTIL THE PROBLEMS ARE RESOLVED, you have only your deposits to lose, we are losing thousands on mortgage repayments with no prospect of an income. i cannot put it any clearer!!

I fully appreciate that market conditions have changed enormously in the last 18 months and may be creating huge problems for the developer but total silence to existing and potential purchasers is very alarming , communication and honesty in what is happening is the best way to try and get everone to pull together.

I am aware of people that for three weeks have been telling me that they are attempting to go to their apartment this bank holiday weekend but have had no confirmation and are travelling on Sunday with no certainty that they can gain access to their apartment, this is appalling. I have been requesting RP since 7 June about connection of gas to our apartment and that I want to visit from 7 September, both with no reply.

I will be in Granada now from the 9th September( probably staying in a hotel) if any one has anything they would like answering about their apartment or development I will do my best to check it out. Please pm me. 

I will also be trying to source an alternative property management company so we can try and get private rentals moving without RP, again if anyone is interested in pursuing this this please pm me.

Terrazas de Alcaucín forum.

Place this in your site seasrch and you will see that this resort has also been abandoned by peninsula.  Everyone is in the same shocking boat in this one too and many are looking for waysa to get out.  With out any facilities this place will remain an unrentable ghost town.  The only way forward seems to be to ensure that everything is in place before completion as once your cash has been handed over in imagine we will hear nothing more.

I guarantee you that when the developers need many then they'll be in touch so perhaps them will present your opportunity to question them.

All.

reading the recent postings,  for Medina golf My solictor informs me.

Quote as of 31st Aug

Hi.

I'm not sure about Medina Golf but Fairways is definitely waiting for the Habitation Licence. The banks won't look at mortgage applications until this is granted. Many offices more or less shut down in Spain during August, hence the delay.

Has anyone signed the Guaranteed Rental Scheme Agreement yet?

Hey Jetdog,

Don't you realise that een with the guaranteed rental no-one is getting paid so it's pointless.  Once you complete you're on your own pal.

Yes. That's what has been worrying me for a while.

But I am trying to find out how long since the first person completed on Medina 23, having also signed for a rental scheme. I have April 2009 as one date but did anyone complete before this date?

please see thread "Hallo"...from Seagull Tee 17

Any news on your development guys?  It seems we are all being directed by Seagul to one discussion so I have placed a post asking some direct questions for Peninsula to settle everyone down once and for all.  Hopefully we'll a decent reply and can work from there as god knows we need some information soon.

Thelooney

At our Medina Elvira Golf and Resort project in Granada, you can have the best of both worlds with a choice of beautiful properties built in a spectacular location and benefiting from some of the best facilities available anywhere in Spain, together with a flexible program of guaranteed rental options which will make you money from your home when you are not using it.

While you are there, enjoy: 

Five-star facilities including the country club, bars and restaurants on site, direct access to the beautiful 18 hole golf course, a driving range, a concierge service, swimming pools. jacuzzi decks, the history and culture of Granada, the spectacular lake and breathtaking views of the Sierra Nevada. This is in addition, of course, to the superb build quality, 24 hour security and easy access routes by road and air.

When you are not there, make money: 

Take advantage of the 2, 3, 5 or 10 year renewable guaranteed rental programmes we have set up, underwritten by one of Spains leading Insurance companies, and in association with some of the worlds leading tour operators. This is a REAL guarantee, not just a vague promise of income, as is offered by some other developers! You can choose from schemes which allow limited access to your property or a more flexible approach. Yields can be between 5% and 15% of purchase price per year depending on your chosen program.

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.