Polaris pulling out?

Why do people keep asking why the unit's weren't rented out in Al Kasar? Polaris never want competition for one thing and CdA was put into cold storage early 2009. Point two, it no longer matters who owns Al Kasar there's really no-one out there to open up little businesses- Spain is going through a very tough time and with only 350-400 residents no-one could sustain a new busness on CdA. I want that all not to be true but genuinely feel it is. If Spain manage to hold on and dont go to the wll like Portugal andf Ireland and Greece we should consider oursleves to be very lucky. The Banks would have let the sports zone. although they wanted too much money, but there's been no interest other than that stimulated by ideas on CdA.

hi folks..this may explain while in condado 10 days ago there were 3 well dressed guys with clipboards pointing to the units and  writing things down and taking photos at the alkazar just next to the supermarket... later on that day while playing tennis a golf buggy turned up with a man and a woman again with clipboards and a camera looking at the sports zone writing things down and taking photos..dont know if this is significant but you never know...cheers stevie from glasgow 

 There was an enquiry about a year ago from a young Spanish lady who wanted to rent one of the units to start a Veterinary practise,can't imagine how that would have clashed with Polaris's no room for opposition policy, but they wanted in exess of 5000 eur. a month rental --- the lady went elsewhere!   Now perhaps we could open a shop selling Polaris memorabilia 

Hi Guys & Galls

Lets look @ Al Kazar realistically.

Even if Polaris gave the go ahead for the empty units to be opened for business. No one in their right mind would go ahead @ this point.

Why? well there are all of the overheads & unless the area is open to the general public & quite honestly that is not what we bought into, we liked the idea of thaveing a secured area for residents

So the takings on a monthly basis would be pretty crap for the largest part of the time. Yes, school holidays would have an increase in population but the shop owners would have to take one hell of a good amount of money during those times to cover wages, stock, utility  bills etc. Quite frankly I dont think it adds up. After all who says that what ever is on sale there is what every one would want.

Look @ the comments re the sports zone. Some are keen to see it reopen but others say  they will never use it

If there is a financially stable entrepeneur out there who is willing to open up a business & then sit & wait then great , but somehow I cannot see that happening until something deffinate is known re Paramount.

Having " done it, got the bag, hat & badge too. I know it just would not work @ the moment.

@ 64,yrs young, very young. I have just set up another business & Al Kazar does not look very viable @ the moment to me

Best of Luck to anyone out there willing to give it a go though.

Jan 

Jan, Al Kasar is open to the general public Naranjos and Jardines are not private as the Isla is, what we bought into doesnt exisit any more. The public can come in to use the golf and the bar and the restaurant (when open) we lost privacy and security when the Oasis was scrapped. It's not altogether a bad thing as welcoming outsiders could make business a litle more viable- if people would consider coming out to CdA.

Polaris would have rented units to business people if they dont offer competition in the food and drink areana, or house furniture and garden furniture etc, aircon, awings, doors and windows, fancy goods too. Unfortunately Paramount could be our only salvation although I know people dont like us harping on about that as it's only a maybe. Though I  read many articles talking it up and being positive about it.

I hope that whoever has been looking the place over has some funds, good ideas and can see potential. But, I dont see many local people coming on board with coffee shops and nick nack shops. Have you seen the size of those units- they're massive to fit out, which is a big outlay before you even start to try to tempt in customers. Lets hope we hear more in the coming days and whoever has the place can make a go of whatever they decide to keep. They could have just been confirming a value for IRM to go ahead with and so it could all mean nothing to us.

Sadly CdA's biggest problem is the small number of full time residents and off season the place is so quiet it'd be impossible to keep an independent business up and running. But, properties have been selling according to 'simply networking' and that must offer a measure of hope.

Hi Tony

Good to hear that more properties are now selling in Condado though I do wonder who the purchasers are. Are they investers, happy to keep their property`s unfurnished for a while or are they like us, wanting a holiday home  but only over a few times a year.

For Al Kazar to flurish as a business venture I hope that many are being perchased by those who wish to live on Condado perminantly.

I agree the sizes of the units are very large & if they get no sun at all then the heating bills will be very costly before everything else is paid for.

If I had the money & could afford to sit tight for a few years then it would be a serious  contender for me but I`m too impatient for that. Pity as I do hope that there is some one out there with the money & vision to help to improve   what could be a very salubrious shopping area..

Jan

 I find it amazing that  this thread has generated the response it has where is the origin?

MGK can you provide a link to the facts please ?

Everyone knows Polaris are potentailly in trouble and Simply Networking indicate a 90 Million bailout but where is it stated that they are pulling out? and even closing Al Kasar etc?

I have heard none of this? 

In the very early stages I contacted Polaris, via an agent, with a view to renting out commercial premises.  It was clear from the outset that Polaris did not wish to have any competition, particularly in the hospitality field.  The rent Polaris were demanding was in itself prohibitive, you would require an absolutely superb footfall just to pay this rent.  This leads me to think that Polaris were so sure of the success of the Condado project that they would operate 95% of the retail outlets themselves, whilst the remaining 5% of oulets would be left to sell Rain Coats, Snow Shoes and matching winter Hats and Wellies.  Polaris got their business plan and financial projections so sadly wrong, partly due to their inane inability to organise and operate successful retail outlets.  However, all is not lost!  Condado is still a strong candidate to buck the current trend and in my opinion is a sleeping giant, it has tremendous potential and there are too many entreprenuers out there to let this oportunity pass by.  Watch this space.

Mick- we're just chewing the fat, considering and pondering.

 Mick sent you a pm

Been over at CDA for a week and had a lovely time as usual although the weather has been iffy. I can say that there is no sign of anything remotely connected to Polaris on CDA and having read the news release about them getting a 90 million Euro further bail out from their crediting banks then clearly any assets that they may have had on this resort are now completely owned by a conglomeration of banks. When I walked down to the Al Kazar last week and saw the Polaris sales office completely abandoned the indicating signs were evident.

The position to me seems clear. Polaris have gone completely. Whilst they may have some restbite from their debts I think it only a matter of time before they are out of busines all together. No bad thing for us I am sure. Probably more of a concern for those resorts still under their control!

This means whoever owns the assets on CDA that are not directly controlled by the community, they may have an opportunity to make a killing once the economic recovery starts. This may be linked closely to Paramount being started.

Until that happens - and I can´t see when that may be, Al Kazar in its current form is not fit for purpose for the development of small business units. The individual units are way too big and the number of potential visitors way too few in number.

In the mean time, more community based service units would be useful. A properly equipped gym with facilities including exercise class room, beauty salon and pampering facility never goes a miss and is a good income generator that would complement other leisure based units.

The concept of luxury handbag, pottery and jewellers outlets charging top prices as was the Polaris´ business model is not relevant today at CDA.

I hope whoever now owns the CDA assets has the money and vision to start to develop the potential CDA has to offer rather than let it stagnate or wait until some other opportunity comes along - i.e Paramount.

Jon Faulkner

It is therefore more important that you use your vote now to elect a group of presidents who are progressive and forward thinking and who will challenge the new owners and bring some advancement to Condado and not let it stagnate.

Use your vote wisely

If you cannot attend dont just give it to someone you know.

Understand what issues are on the table, what is to be voted on/discussed.

Make sure YOUR voice is heard on all of the issues dont leave it to your proxy to decide

If you are not both thinking the same way, give it to someone who is.

Paul