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Oceanville |
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cubsur 
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 Posted: 04/April/2018 at 09:54 |
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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
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DICEYUK
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Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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Posted: 04/April/2018 at 10:51 |
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
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Posted: 05/April/2018 at 17:32 |
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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
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Posted: 05/April/2018 at 17:34 |
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Last picture cropped, don't know why.
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Albufeira Resident
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crabman
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Posted: 09/April/2018 at 14:25 |
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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
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Posted: 03/August/2018 at 23:11 |
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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
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Posted: 04/August/2018 at 09:08 |
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Nothing here. Silence on all fronts.
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Albufeira Resident
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steven.vanessa
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Joined: 06/February/2011 Location: Algarve Status: Offline Points: 914 |
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Posted: 07/August/2018 at 13:40 |
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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
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Posted: 07/August/2018 at 17:43 |
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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
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Posted: 08/August/2018 at 13:18 |
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
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Posted: 09/August/2018 at 09:34 |
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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
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Posted: 09/August/2018 at 13:00 |
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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
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Posted: 10/August/2018 at 08:51 |
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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
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DICEYUK
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Posted: 31/August/2018 at 17:57 |
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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
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Posted: 01/September/2018 at 10:38 |
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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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cubsur wrote: