Hi
PujaKush,
I feel that sorting out the community charge is going to be one big headache for somebody.
When La Recoleta is finished, including Parque Recoleta there will be six swimming pools and number of water features, massive green area, which will all need managing.
If the place is to be kept smart a capital fund would be needed, for thing like repainting. (If the community took responsibility for painting the exterior paint work it keep the area uniform and ensure that no one apartment spoils the look) It looks like some windows can’t be cleaned from the apartment so does the community arrange for a window cleaner to clean all the windows once year? I have no experience of arranging these things so I don’t know.
It seems to me that all of Recoleta should come under one management to achieve economy of scale. Bispen tells us that he pays € 1,500 per year, which is around €1.74
per square meters per month, as Recoleta is bigger than La Entrada and I guess we will share some contracts with Panarama Park and La Entrada , if through economy of scale we could get our community charge to about €1.5 per square meters per month. I think that would produce a fair rent.
Supposing I have done my sums right, based on constructed square meters
Phase one has 17,691.41 sqm
Phase two has 13,660.59 sqm
Parque Recoleta has 10,836.7sqm
At €1.5 per square meters per month this would give the community an annual income of around €759,432.60 pa. Based on full occupancy.
Regards
John