Planning permit

Thanks Paul, yes I got the official communication through today from Nature Golf and will be distributing to our investors immediatley, looks like things are finally sorting themselves out. I doubt there is a development as good and as cheap as this in the whole of Spain !

Lets hope things start to speed up now with the construction

Robin

Received my newsletter today, good news, still a fare way away from digging but, it seems to be moving now, I will be over in March for a couple of weeks and will be taking my brother to Caravaca for the day, so will change the photos as weel.

Anyone herd how many properties have been reserved,

We are starting with 3000 on phase 1 and the facilities, I believe there is room for 9000 over the next years, when I placed my deposit some time ago now, they were talking of 1500 deposits then, I have noticed a lot of web sites now showing the resort, so 1st phase must be moving now.

I hope the euro exchange picks up, my brother got hit with a extra £3k, on his final payment,

 

Jont

Hi all, just got back yesterday, what a change in the weather!!

burnt on saturday, frozen sunday?

Spoke to my agent, also as you probibly know with the news leter, he is confident that biulding will start end of this year, so they will be with the building liecence before the deposit dead line next year.

Tried to drive up to the Caravaca monistary what a laugh, me in my small 4x4, driving round some of the smallest roads known to man, I will need to get a town map next time, still had a good day there.

well speak to you soon,

 

Jont

Thanks for the update Jonty. Let's hope the exchange rate improves by end of the year!

Paul

 

Yeah

I was at my brothers and there are 30 to 40 buyers there completeing this month all paying 40% of values around 180000euros, my brother got hit with around £3k extra.

speak to you soon

Maybe I will see you on the 2 day winning trips, they are going to sort this week.

Jont

Hi. I've had no correspondence from Foxtons or the new party involved for over 9 months now, despite them confirming to me last year that all my details had been forwarded to relevant party. Can anyone give me some guidance on best points of contact as currently getting no where and want to progress with my reservations. I visited the site at the end of April last year and went to the Llanera office for a couple of hours to discuss all options etc, and also in oct the year before. Despite the property market and euro fluctuations - what better place to invest in? Stunning region and would recommend staying in Murcia for a couple of days - architecture stunning, the 'flower' square and tapas in the evening.... Any links/contact names greatly appreciated. thanks, Simon

Hi 

I had a news letter in march, my agent has contacted me saying the liecence is ongoing, the 2 owners, are dealing with the project at the moment they are I believe having to talk to Llaneras solicitors, over there involment, I will keep you in contact as soon as I know any more, I will send march news letter via PM

Jont

Hi Everyone

I have just heard that approvals have been granted but the development is now named "Archivel Golf Resort". Presumably further postings will be logged under the developments new name.

Paul

Hello there, I wondered whether anyone had been advised by their agent that reservation fees weren't refundable at the moment because the deposits were in a frozen account, whilst the courts are dealing with the process of Llanera’s liquidation? Surely if the reservation was paid to the agent (2 years ago now) then they would be responsible for refunds. I would be grateful for any news on this please? Many thanks

Hi

I have not asked for my reservation fee back but the 2 land owners did say some time ago that due to the uncertanty they would return them, I still think the resort will go ahead, I'm letting them have till the contract says Feb 09, then if they don't have a building leicence, the money is returned, but there was a statement in one of the news letters I believe about your money, I will look at the ole news letters and post it.

Jonty

29 Sep 2007 4:05 PM ncanddc Parcela I've made 4 posts Send private message to ncanddc

I have reserved two properties in the development, I was already considering cancelling the reservation for one of them (eggs in one basket) but I admit with this financial diffulculty Llanera are having I have decided to cancel the Chalet but will keep the Villa reservation and hang in there for a few months and see what pans out. But I can ensure you all you have not lost the £2000.00 reservation fee, I have spoke to Foxtons, filled out the cancelation form and received the £2k no problems at all?

I copied the last post from a thread that was from september 07, there is a form you have to get.

Jonty

Just received confirmation from the developers of the new Archivel Golf Resort that they plan to increase the Golf Course to 27 Holes, the majority of the site will be kept as planned those affected by the redesign will be offered new plots.
New units on the site will see a 10% increase in price. The contracts are expected to be complete in September 08 waiting for the approval from the environmental study & the Plan Parcial Definitivo.
This one affects Foxtons clients, the new financial structure is 20% deposit due on signing contracts (approx Sept), a further 10% in 9 months followed by a final 10% in 18 months. Differs from the Llanera proposal which might cause me to rethink my investment.
Hope this sheds some light to you all.

Regards

Thanks for the update; regarding your possible rethink, have you enquired as to the likelihood of a full and speedy refund should you choose to cancel? My earlier post refers

I requested the full 3000 euro refund from agents BlueSun World and have been told that the landowner is not honouring these and I need to engage a Spanish solicitor to file a complaint with the Spanish courts in Xativa. The funds are in the hands of the receivers of Llanera. The new promoters are offering a discount to reflect these if you proceed. 

Has anyone any experience of making claims like this in the Courts. It sounds like it would cost more than the amount outstanding?

Mark P

I've just started the ball rolling, when I reclaimed the reservation fee back in Sept 07 my last contact was a Natasha Poinen. I've emailed her yesterday will inform you of my progress if any?
Regards

After Months of trying I eventually had my deposit returned about 6 Months ago. It was no easy task. Those that I know who were refunded were all assisted in this by their agents and not the developers. The developers are a hopeless route to go down to get your money back.
 My agents. Foxtons ,initially wanted nothing to do with it but later relented and were most helpfull.Blue Sun world.on the other hand, are a different lot all together, and you'll be lucky if they offer any help. My advice is keep hounding your agents.                                   

To procede with this project makes no sense. The current exchange rates, the Spanish property crash ,and just pick ing up some of the Sunday newspapers makes you shudder with aprehension about it all.
This site was pitched at tranquility and life style,it's anything but. It's a masive 9,000 unit estate which will resemble an East European housing estate. If it goes ahead it will be building site for 5 years or more. Not much back to nature there. Best wishes to all those who want their money back. I expect a few fifth columists working for agents and developers to follow this by saying how it's a golden opportunity not to be missed. Don't believe them.  john

 

I tend to agree with you, with the Spanish market in free fall I feel there’s bargains to be made with re-sale property. I've seen property in Spain be offered anywhere between 20-30%  Below Market Value, if you structure the financial deal correctly you could end up with a property in Spain without the need of a deposit, a No Money Down Deal. 
As for the reservation fee I feel this could be a long drawn out affair but if I can structure a deal like I mentioned earlier, then the potential loss on this development is easier to take.

We have reserved a property on the development through Global Spaces, I e-mailed them yesterday regarding the progress of development and also if we decided to pull out the chances of a refund on the reservation fee, here is his response which you might find useful.

Thanks for your latest e-mail.  Apologies for not replying sooner but we wanted to provide you with an accurate account on the status of the development.

As you are aware through previous communications the development has been taken over by a new company under the development name of Archival and they are making excellent progress with planning permissions and now have bank guarantees (in respect of purchasers’ payments) in place with Bank Bancaja. I can also confirm that Archival are offering to honour all the reservations made through Caravaca Nature Golf (“CNG”) (the previous development company) and also the prices agreed even though they were sold at a discount.

With regards to the reservation fees I would like to clarify the following - the reservation monies were in fact paid to CNG, an equal 3 way joint venture between Llanera (the real estate and construction company) and two land-owning families.  As you may be aware Llanera is now in administration for reasons unconnected to this project.  As part of this process in Spain we understand that the authorities have prevented the withdrawal of any further monies from CNG bank accounts, including any “ring-fenced” accounts, (which require all 3 parties’ signatures) until the administration process has run its course.  There are rumours (the accuracy of which we cannot and do not comment upon) that Llanera had removed monies from this account without the due authority of the other parties.  The land-owning families are working together to get to the bottom of this as they have potentially lost significant sums in the venture.  We met with representatives of the families two weeks ago to discuss this further – together with their admirable progress in terms of taking the development forward without Llanera (further details of which you will receive shortly).  Some buyers who are now seeking recovery of their reservation fees have therefore faced difficulties in having them repaid.  We continue to assist and update such buyers on the progress of our recovery attempts on their behalf as more information comes to light.

As mentioned, we are expecting a further official communication imminently from Archival with regards to progress on the development which we will distribute, and we have been advised this will also include the bank guarantee certificates from Bank Bancaja. We have also been advised that all necessary planning permits should be in place this Autumn whereby construction will commence.

 

This message was last edited by AandB on 7/24/2008.