Oceanville |
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26930 |
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I think I heard you can buy it for €1 but then would have to spend millions!
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Albufeira Resident
www.algarvebus.info public transport information for the Algarve |
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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And even more millions paying off the debts. |
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26930 |
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A collage of pictures taken out the back this afternoon. In addition to what I have said below, it seems the place is also being used as an unofficial lorry park. Two were there when I walked through. Several areas are now cordoned off.
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Albufeira Resident
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26930 |
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Last picture cropped, don't know why.
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Albufeira Resident
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crabman
Newbie Joined: 23/February/2012 Status: Offline Points: 8 |
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hi,havent heard a thingIm going out to albufeira in May so i will see if there any new devolpment, terry
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Gillian
Newbie Joined: 19/April/2017 Location: UK Status: Offline Points: 8 |
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Anyone heard any news 're Oceanville apartments? Our lawyer has disappeared so no information Received for a long time. Thanks. Gillian
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26930 |
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Nothing here. Silence on all fronts.
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Albufeira Resident
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steven.vanessa
Senior Member Joined: 06/February/2011 Location: Algarve Status: Offline Points: 914 |
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So gutting this, this place could be the perfect place to holiday in Albufeira, I love its location such a sad state for evryone involved.
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A9NDY
Senior Member Joined: 19/April/2010 Location: Mansfield,Notts Status: Offline Points: 514 |
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Some consortium should buy it now whilst it’s still in good shape and just need finishing touches etc then get on the books of Thomson /jet 2. As there’s demand for accommodation in high season... the government should put pressure on the owners as it’s turning into an eyesore shame really
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steven.vanessa
Senior Member Joined: 06/February/2011 Location: Algarve Status: Offline Points: 914 |
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See my post from 2017, they want €50 million, I spoke to a friend of mine out here who is Portuguese and his mother owns lots of rental properties and has a few rich investor friends in Lisbon and they enquired and were told that staggering sum was the cost to buy. I guess it will take that amount again to restore it and open it. Such a shame. |
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26930 |
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Rumour had it that the hotel structure is suffering from subsidence. That would up the bill a little I should think. No-one is going to invest that kind of money with no prospect of a return in their lifetimes. So every time I walk past it will have deteriorated a little more.
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Albufeira Resident
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pyrman
Top Contributors Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1133 |
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There`s the rub ... I think Jupiter would have got the old Montechoro for €5-6 million .. for which I know owner wanted 10m some years ago and MGM Muthu offered 3m ... Oceanville actually WAS OPEN apparently ... in 2008 ... here are the guest reviews .. https://www.expedia.co.uk/Algarve-Hotels-Ocean-Ville-Apartments-Villas.h2022284.Hotel-Information and here is a recent story on it (in Portuguese) https://nit.pt/out-of-town/back-in-town/sabado-abandonados-elefante-algarvio-um-hotel-luxo
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Pyrman
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26930 |
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The hotel and some of the apartments did indeed open briefly ten years ago but for only three or four weeks before it was ordered to close. Since then, a tale of woe.
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Albufeira Resident
www.algarvebus.info public transport information for the Algarve |
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26930 |
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Glad to see the Daily Wail concentrating on the important issues of the day. Business here seems to have little idea of cash flow management. Take it and spend it, keep nothing in reserve.
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Albufeira Resident
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