Investment Deal
Title: Alhambra Golf Resort- 100% mortgage facility for 2 Bedroom detached golf villa
Has a member formally visited the location?
Yes
Result of the ‘Forensic’ report (if applicable)
Do the development / product meet the criteria for?
1 Location - Excellent
2 Quality - High
3 Price – Below Market Value
4 Instant Equity / Rental Guarantee – Instant Equity / High Rental Potential
5 Rental Demand – Good rental potential through OPI management
6 Financial Package – Mortgage Facility in place at 100%
7 Brand Name & Reputation of Developer - Excellent
Land title
Permissions
Does the developer have title? Yes
Building / Planning Permission / Builder’s Guarantee
Copy of zoning categorisation, if obtained – Yes
Copy of planning permission, if obtained - Yes
Copy of building permits, if obtained - Yes
Financing of Development
How is the development being financed? – Through Builders investment and bank guarantee
Does the construction depend on off-plan sales for financing? - No
What are their sales targets? – 10 per month
Are their sales forecasts realistic? - Yes
Where is the investor's money held? – In there own account
What happens to the client’s money if the development does not get completed? Bank
Guarantees? – N/A
Funds are protected and returned if the developer is not able to complete, or another
developer will take over. - Yes
Delivery of project
What are their delivery targets? – Immediately Delivery
Are their construction timelines realistic? N/A
Developer (Monsora SL)
Overview on Track record:
Directors Confident with Company
1. Document checklist
Copy of certificate of incorporation -
List of company directors -
Passport copy for at least one director -
2. Background information
How long has the company been in operation?
What other projects do they currently have on sale?
How many sales did they achieve last year?
Do they have English-speaking staff? YES
Is it possible to obtain references? YES
- Reputation - EXCELLENT
- Construction quality - EXCELLENT
- Commercial status- SECURE
3. Commercial terms
What contract will the developer use? - STANDARD
Does this offer enough protection? - YES
What rights do we have if the contract is breached?- LEGAL RECORSE
Which legal system has jurisdiction? - SPAIN
To where will issues be escalated for arbitration? - SOLICITOR
Purchase Price
FROM € 180,000
Market Value
FROM €193,000
Bank Valuation
FROM €196,000
Discount
15%
Reason for discount
EXCLUSIVE SALES OF C-10 PLOT
Type
Off-plan –
New build
Refurbishment
Re-sale
Apartment –
Villa – X (KEY READY)
Townhouse
Semi-detached
Detached- X
Condo
Type of Construction
Villa
Total units available (of each type)
21
Specification
Beds - 2
Bath - 1
Floor space:
Total Living:
Terraced:
Balcony
Garden
Parking
YES
Location
NEXT TO GOLF COURSE AND CLUB HOUSE
Appraisal of location /region
Excellent location only 20 minutes from the city of MURCIA and 15 minutes from the
beaches of Mazarron. Only 50 minutes drive form Murcia airport.
Rentals
Appraisal of rental market:
15- 20 weeks from £300 per week
Type of rental market:
Golfers
Rental value: From £300 pw
Rental guarantee: no
Mgt charges: TBC
Service charges: TBC
Buildings and contents insurance: TBC
Capital Growth
Spain has taken a dip over the last 6 months due to adverse press but should
achieve a minimum of 10% per annum over the next 2-3 years.
Reservation Fee
How much: £1200.00 Spanish Agent fee
Policy: Refund up to 14 days
Exchange
Deposit: None required
When Exchange: Full mortgage to builder
Completion date: Now
Stage payments: No
Finance
Has the developer arranged a financial product for this deal?
YES
Available LTV: 80-90%
Who, how: Caja Madrid
Fees: TBC
Rates: 4.5%
Type: Repayment
Viewing trip
Who: Michelle Turnball Spanish Agent
How much: Accommodation paid by company flight by client
Purchasing Costs
Approx 12%
Incentives
100% Mortgage – purchase costs only required
Extras
Furniture: Extra
Air Conditioning: Installed but buyers have to pay for the units themselves
White Goods: Available at an optional cost
Parking: Yes
Flooring (included? wood, carpet, marble, laminate): Marble
|
