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Hi Kev,
did you not get 2 guarantees for each property? one for the first 15% less booking deposit, and one for the second 15%, the total should cover the deposit plus a percentage, not sure how much for inflation. Your guarantees should be for more than you have paid so far, might be no harm to get on to your solicitor first thing Monday.
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Hi all
I've just spoken to my agent and they have assured me that the licence will be granted in around 10 days time, and that they have been given authorisation to begin construction now. Lets hope the info is correct, also they're in the process of extending the bank guarantees.
kev
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Hi just thought you all might be interested in the following reply from my independent lawyer (not linked to MRI, etc) re my concerns at lack of progress. He was introduced by a mutual personal friend so no reason to believe i am being advised anything but the truth.
''I can inform you that the developer has been working on the Urbanisation area and these are at an advanced stage, they hope to finish these by end of October.
Regarding the actual building works, the preliminary works such as excavating, topography surveys etc have commenced recently and they are planning to start the actual building work in November as Corvera expect to receive the final licence approval within one month. All that is required is a general meeting of Murcia Council to finally approve the licences and this meeting is expected to take place within the next 3/4 weeks. The developer is planning to install the cranes on site next week pending receipt of the final licences.
In addition I have been informed that a letter confirming all of the above will be issued to you by the President of Caledona very soon.
There was a little more but the gist of it from him is that despite the disappointing delay there is nothing to be concerned about. Like i say no reason to suspect that he is just towing the company line so can only hope Caledona are not giving him the same b******t they have given us in the last year.
Cheers...
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We have now received a reply to our letter to the MD of Calidona. in which he explains that due to recent cases of corruption property development was used as a major political tool in this year's elections, resulting in a complete standstill in town planning proceedings throughout the region and in other parts of Spain. He states that Calidona is a "serious and solvent company" and is in no way at fault, and that they have also suffered greatly as a result. both financially and in terms of their reputation. He confirms that construction is starting and that a letter from the President of Calidona is on its way to all Corvera owners.
Having made other enquiries we go along with this explanation, it's just a pity we weren't kept in the loop, but presumably to have put such a message out would have deterred prospective buyers and compromised the development totally. Still convinced that it will be worth the wait in the long run....
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We were at Corvera last Monday where there is a substantial building activity for the moment. They are still working on infrastructure; roads, drainage, electricity etc.
Spoke to a sales representative who tells they have been promised to have the final building licence within two weeks. Building contracts have been awarded and the contractor
is ready to start as soon as they have the final ok from the town hall.
We also got a copy of the letter Calidona will send to all the buyers soon. The letter give a short status of the project and a brief description of further plans.
Have posted a few pictures form our visit to the site.
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torl
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We are just back from another fantastic week at Roda and took our usual trip to check progress at Corvera. We have visited 3 times this year and each time we stand outside the show room and take in the view we are impressed by this proposed development.
Info from a variety of sources including the excellent Rosa is that 16 cranes are due to arrive this coming week. On site we see plenty of activity on theinfrastructure and a number of soil movers in action.
We get the sense the on-site team at Corvera are as frustrated as us and can't wait to see real progress.
I
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Mike and Margaret www.belfastcounselling.org
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Corvera told me that the golf course and hotel etc wont be finished for 1-2 years after phase 2 is complete (minimum!! poss 3-4), so I hope nobody is looking to rent their property out with no facilities when they could go else where? any views on this?
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CRG
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Surely this cannot be the case for the golf course!
I can see that the hotel will be behind - Roda is the same situation but it has a playing golf course!
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Carole
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Following the last few comments I e-mailed Rosa and here is her reply
'I´m afraid I cannot give you a set date for the completion of the golf course or hotel. We expect to begin construction of the golf course early next year. The date for the hotel hasnot been announced as yet.'
I really can't believe the timescales suggested for completion of the golf course!
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I was so astounded to read crg's posting that I immediately phoned Calidona for verification. I have been assured that, although they cannot give a definitive date for completion of the golf course it will be completed around the same time as phases 1 & 2 - now scheduled for April 2009 as is apparently being confirmed in the letter being sent out from the President. They were anxious to know where the information originated from (obviously I could not answer this) as they believe disinformation is being deliberately put out by people who have an axe to grind with Calidona. I pointed out that in the light of lack of information from Calidona it was understandable that such situations arise. Apparently in future they intend to provide updates on progress on a two-monthly basis.
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I would agree - one of he easiest things to do with a notice board such as this is to spread disinformation, whatever the reason. Also watch out for the same person registering twice in different names to 'support' one another OR to continue with a hidden agenda once one of 'them' is caught out.
Ash
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Hi all, I'm sure that someone said somewhere on this forum that they were told that the golf course would be completed approximately 6 months after completion of phases I and II. Something to do with a lake not being able to be completed until building works of those phases had completed. Take a look at past posts. May help clear things up.
Anita.
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hi, i am new to this and only have this user name! Maybe I need to read more posts but some people have strange comments ot make?! I think that it may be naive to believe the same people who have purposely and consistantly lied to all of us and still may be? The fact that the development is in spain will make delays to be expected but they are taking the p!55, the same as the solicitors who agree perhaps to a contract with no cancelation clause for delayls b4 licences are granted!
The info I was given was by to independant and reputable agents in Murcia - followed by a call to corvera themselves--- of they are now saying no specific dates it prob. means they realised they were still making up numbers and started to get too many calls about this! The point I was trying to make is to investors who want to sell b4 completion or to those renting out the property - if the hotel is not complete and the golf course may not be!?! they investment for phase 1 and 2 buyers may not be a good as it was sold as -- especially with the delays we have now seen ....
You all may know more than me with being new to posted messages so please help me see that this will be a good investment rather than cut my loss now and cancel the contract?
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CRG
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ps anita, approx 6 months after completion is very vague ---- esp with delays you can expect in spain of approx 2-3 months for a whole development which is now approx 1.5 yrs behind
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CRG
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Hi all,
with regard to the potential for rental income in the early days, I'm sure there will be plenty of buyers from the next phases looking to spend time on site to check on the progress of their own properties. If it's a case that facilities are limited, surely as a group we can petition Calidona to make certain services available to us, or at the very least provide a courtesy shuttle service to the amenities we would be looking for. I'm sure this is something we can look into, and with this forum we can get together and hopefully sort out whatever crops up.
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Re Anita's point - we were told last time we were out there that the golf course could not be completed BEFORE phases 1 & 2 because many of those properties occupy two "islands" surrounded by the golf course - therefore completion of the course can only be finalised once all the heavy traffic is out of the way. We were, however, given an assurance then - as now - that the course would be open very soon after that had happened - and that in the meantime there would be a shuttle service to Roda for golfers. I think this maybe what you had in mind.....
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