Promaga built apartments on San Roque Club

I have investigated this and also had one of the apartments (right at the front of the community) surveyed- there was no ramp however there was some condensation from poor seals at windows and doors. This is something manageable with maintenance. There are a lot of apartments in the area and some are under bank ownership and the bank is not paying the fees so there is some slow progress on general maintenance of the area and of some of the apartments - we viewed one in the mansion house block and the interior communal area (entrance foyer, rtc) were very run down, the outside of the balconies also needed paint badly. The owner told us they paid 1 million for it!! (A 2 story penthouse apt) I'm not sure if it's true as there are no public records for house sales but prices seem very low around there from where they started out.could be the makings of a good deal - you would always have financial issues validated and checked by your property lawyer, they will ensure due diligence and that the property is debt free.

You will have to raise maintenance and community issues at the community meetings - of the apartments need paint, then wave your arms and demand it. Then, they will have to listen.

Good luck!

Hi Kimberley

Thank you very much for taking the time to reply, we appreciate it.  

From your message, I assume you didn't go ahead with your purchase, would you mind me asking why that was?  Unfortunately because of lockdown, we have been unable to view the community areas other than by video taken by the local agents.  

You raise a very valid point concerning the finances; fortunately, because we owned a property in Spain previously, we have a very good lawyer in Spain who would carry out our due diligence.  Really our main concern is that the communities themselves may struggle to recover financially because of lack of occupancy and private ownership of the apartments, which would also lead to increased community charges for owners.  

Once again, many thanks for taking the time to reply.  Keep safe and well

Best wishes

Andy

We are actually going ahead! We had the survey and the building was sound, and only minor points came back, one was condensation resulting from one of the terraces being enclosed but not sealed totally well, it was fixed but there was some separation on wood floor and some existing condensation by windows because of poor seals.

There was also no cover from roof over the master bedroom sliding doors to back terrace and, again, some water but nothing too worry about, it just needs a cover (cement, wood or otherwise) to give some space between water dripping from rain and hitting the seals of the sliding doors (hopefully that's explained well enough, I'm not great with wording all this!)

Which apartments are you looking at? I know there are a few different groups

The only other point which we will prioritise was no mains switch on the breaker.

Hi Kimberly, thanks for all of that information, it is really helpful.  We are interested in a couple of apartments and I think one is in the Mansions and one in the Terraces.  Just recently 15 or 16 were released by a bank and I understand they do this every now and then but many of them looked very damp inside.  I have seen accounts for one of the Communities and there is a fair amount of unpaid fees but mainly from Promaga the Developer, who strangely still trade because they had a web of companies.

Would you be able to let me know who you used for the survey, as we would definitely do this before proceeding.  If you are comfortable doing this, perhaps we could email off the site, my email is [email protected]

Thank you Kimberly.

Regards

Andy

Hello everybody

wow, I did not expect to find something about the sales in San Roque club here in the net.

We are in the same position. We saw a penthouse yesterday in the mansions and it was priced very well. The facades are in distress, so is the main entrance to the building and the parking garages. The penthouse is in a fairly good condition, just the outsides ( terraces and such ) are not. Minor work acquired inside.

NOW : the agent, who works for  a bank, who owns these properties ,told us yesterday, that the potential buyer needs to pay 700 Euros a month for 1 year to get the outsides done new. The community fee is normally 344 Euros a month, now raised to 700 a month for 1 year.

By accident, I found other penthouses in the mansion buildings for the same selling price, but for 344 Community fees! 

Not only that,they state in their advertisement,that their fees are INCLUDED in the salesprice!

So.......now I ask myself with which money they want to upkeep the maintanance and the neccessary repairs ???????????????

Please give me your input

Thanks Sabina

Those fees seem very high, we are not in the mansion house apartments but essentially we are your neighbours and also in apartments - they have some different groupings but I can't see that community fees would be so drastically different, we pay approx 250 euro a month for the fees. 

The community obviously must all come together to contribute to the maintenance but I'd it has fallen in disrepair because of previous poor contributions, it would not seem fair (or legal) to raise fees by that much to make up the gap.

If you are interested in the property, I would not accept this - I would talk to the community direct as well as enlist a lawyer - I can highly recommend one that we use - they are quick to reply, thorough and very helpful.

Some of the mansion houses look like they are getting work done, which is good, it's nice to see, they desperately need the effort put in. There is quite a bit of activity in the area

Hi Kimberly

thanks so much for your reply.

Yes,I agree,we backed out,as nobody could tell us when they would start with the work.

The house Nr.6 stinks so much of mold,that I got literally sick.The garages,the storage rooms are all not usable.2 parties so far in this stinky house.It can take ages until they start.The sewer system stinks horrible,as it is not unsed enough.Such a mega pity,but there is nothing else to do then to back out.

Sabina

Hi Sabina

I have been away so apologies for the delay.  Kimberly was amazingly helpful to us, high Kimberly.  We have not been out yet but I have had contact with a couple of agents and we have had 2 video showings of different apartments.  We have owned an apartment previously in Spain at Los Arqueros and Kimberly is correct, the unoccupied apartments and non-payment of community fees impact everyone.  The Mansions seem very damp inside and out and they just don't have the money in the Community to complete the work, so everyone has to pay more.  I asked for accounts on an apartment we were interested in and there are lots of debtors not paying, Promaga the developers are the biggest and so are the banks who, basically set up companies to park the apartments that were re-possessed, it got the debt off of their balance sheet.

If the apartments sell and more community fees are being paid then they could be a bargain, look at Kimberley's €250pm, that is reasonable but the apartments we were looking at were €350 - €425pm and rising.

Cheers

Andy

Hi

Did you make any progress on this Week?

We are looking at buying a penthouse in Mansion 9 to live in full time.

The apartment seems in really good order and they've started painting the outside.

Fees are just over 300 put up for a year to enable the outside to get painted 

We understand with all the investment in the Club that this may be a good buy.

Any thoughts would be welcome.