Oceanville
Printed From: Albufeira.com
Category: Living in Albufeira / Viver em Albufeira
Forum Name: Algarve Foreign Residents / Residentes Estrangeiros
Forum Description: Meeting Point / Ponto de Encontro
URL: https://albufeira.com/forum/forum_posts.asp?TID=3852
Printed Date: 27/November/2024 at 01:58
Software Version: Web Wiz Forums 10.15 - http://www.webwizforums.com
Topic: Oceanville
Posted By: john2604smith
Subject: Oceanville
Date Posted: 27/January/2010 at 13:57
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Hi Guys, Just after on any recent news on when Oceanville is due to open. I had a walk around at New Year, it is a lovely place but completly deserted. It is so easy to walk around no security fences, guards, guard dogs etc, we walked through the centre of it looked around both pools and playgrounds,it is immaculate. It did get me thinking, if there was something like that left unattended in the UK, imagine what state it would be in, windows smashed, buildings set on fire, shopping trolleys and rubbish in the pools, the place would be vandalised to bits ! I digress any updates greatly appreciated. ------------- ownersdirect P3708 |
Replies:
Posted By: Jocelyn
Date Posted: 02/February/2010 at 21:19
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Hi John,
Yes, place is being kept immaculate, plenty of grounds men making sure of it. So someone is spending money on it. I've money invested in this project, so maybe place will come good one day...... I've been told that the camara have appointed a specific individual to work with the developer to help obtain licences. Owners are still using their apartments. Any one else heard anything.... ------------- |
Posted By: cubsur
Date Posted: 09/February/2010 at 13:22
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I have not seen any lights on in any apartments. I walk past at night four or five times a week. If owners are using their apartments they are doing so very stealthily. The grounds are indeed being maintained but I wonder if the insides of the apartments are starting to deteriorate through lack of use? ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: cubsur
Date Posted: 11/February/2010 at 16:09
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Even the street lights there were switched off last night.
------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: cubsur
Date Posted: 18/August/2010 at 10:47
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Oceanville still shuttered and empty. I wonder how much money has been lost/wasted on this venture and whether those who bought properties hold out any hope of ever being able to use them. It must be almost two years now since it was shut down. Anyone know anything new? ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Algarveaddick
Date Posted: 18/August/2010 at 11:00
| But still they continue to build elsewhere.... muppets. |
Posted By: Jocelyn
Date Posted: 18/August/2010 at 13:18
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Thanks cubsur, yes still all closed up!
No point in even saying at this stage why....they just feed us a pack of lies...i take what we're told with a pince of salt. hubby reckons we will never see our money! ------------- |
Posted By: Avril
Date Posted: 18/August/2010 at 21:56
| Good god! We put our savings into a second home in albufeira and funded the difference with a mortgage, luckily for us it has worked out very well. However, if we'd have bought in oceanville (and we were approoached by, I think MRI at the time, though I may be wrong) we'd have probably been in financial trouble by now!! The place does look well kept and would it not be in the camara's interest to pass the habitation licence and start to get money from the owners as opposed to nothing? |
Posted By: Jayjan
Date Posted: 18/August/2010 at 23:06
| Avril I am sure Perry will have a comment to make about your latter comment. I too think its stupid and agree with you, but thats the Portuguese beaurocracy (spelling) for you. I just feel so sorry for folks who have invested their hard earned money into this project only to see it go belly up. |
Posted By: Algarveaddick
Date Posted: 19/August/2010 at 08:52
You know me so well Poli  ...
You are right Avril of course, that would be the sensible thing to do, but I think somewhere along the line the developers stopped scratching the right backs, and suddenly their project became a problem. They probably already made enough money to cover their expenses on the project, so they are in no hurry to make it up with whoever they have upset, because that would mean someone admitting they were at fault, and anyone who knows the Portuguese knows that just isn't going to happen...
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Posted By: cubsur
Date Posted: 28/September/2010 at 18:26
Went for a walk this afternoon. Included Oceanville in my itinerary. Creepy. Sprinklers are sprinkling, grass is being cut. Not a souls to be seen at 4pm, no security, no nothing. The site seems to be in good order generally but a close inspection reveals that, literally in some cases, the cracks are starting to show. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 01/October/2010 at 21:53
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thanks cubsur for the post on oceanville! appreciate that as hearing any news about the place is becoming less and less.... ------------- |
Posted By: Avril
Date Posted: 02/October/2010 at 13:46
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If Cubby says there are cracks beginning to show, maybe that is why it was not granted a habitation license, maybe it is actually not built to a satisfactory standard and not safe! |
Posted By: Jocelyn
Date Posted: 03/October/2010 at 16:26
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you just wouldn't know avril what's going on at all! what a saga.... :) ------------- |
Posted By: Jayjan
Date Posted: 03/October/2010 at 22:08
How stressful it must be Jocelyn, are you no nearer finding out what the prognosis is (god it sounds like a disease but couldn't think of the appropiate word, must be this vinho branco 
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Posted By: Jocelyn
Date Posted: 05/October/2010 at 19:48
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it was stressful back in 2008 jayjan, it's more annoying that they don't communicate....it's the not knowing was going on in the background (if anything!!) that's a killer.
we're over next week, i try not to look up at the building when we're there!! ------------- |
Posted By: cubsur
Date Posted: 29/March/2011 at 11:14
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Some more recent pictures are in this topic thread http://www.albufeira.com/forum/forum_posts.asp?TID=2320&PID=49585#49585 - http://www.albufeira.com/forum/forum_posts.asp?TID=2320&PID=49585#49585 ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: cubsur
Date Posted: 12/May/2011 at 20:06
Looks like they have stopped some basic maintenance and weeds are taking over. They've stopped watering the grass also.    ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 12/May/2011 at 20:13
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thanks cubsur...
meeting our solicitor next week. we decided to go the legal route recently...you seek court protection for your investment so that our apartment can't be auctioned off in the future. in the 6 months since we were at court...we have managed to get a court number...why do things move so slowly!!!!
i think there is a public action on 2nd june selling one of the retail units... ------------- |
Posted By: cubsur
Date Posted: 25/August/2011 at 14:52
The place is still abandoned and getting worse to look at. About four o'clock yesterday all I saw was two security guards having a chat (change of shift?) and and old bloke who looked like a gardener. Meanwhile the weeds continue to grow. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 25/August/2011 at 15:00
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thanks cubsur for taking the time to put up another picture, i've no news other than i'm still waiting since december 2010 for my court hearing date. ------------- |
Posted By: tiganut
Date Posted: 26/August/2011 at 07:12
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Good luck with the hearing,when you get it. ------------- He Who Dies With The Most Toys Wins |
Posted By: Jocelyn
Date Posted: 26/August/2011 at 09:20
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thanks tiganut! hopefully i will be able to post an update before christmas. another client of my solicitors who submitted their case to the court after me has already had their hearing. My solicitor said it depends on which solicitor you get.... ------------- |
Posted By: cubsur
Date Posted: 06/October/2011 at 10:38
Yesterday ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Christina
Date Posted: 08/October/2011 at 15:35
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Hello jocelyn
This is the first time I've read about the trouble you are having and I just
want to wish you good luck and I hope that everything works out well for you.  ------------- Christina James |
Posted By: Jocelyn
Date Posted: 08/October/2011 at 15:40
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ah thanks Christina, so nice of you :)
we won our court case this week, judge ordered sesimbra to pay us back....not that they will cause they are almost bankrupt...but it was somewhat good news for us. ------------- |
Posted By: Christina
Date Posted: 08/October/2011 at 15:53
 Great, I am so pleased for you, you never know you may get your money
back, miracles can happen, ha ha. I bet you're relieved its all over.------------- Christina James |
Posted By: Jayjan
Date Posted: 08/October/2011 at 17:07
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Excellent news Jocelyn, hope everything goes ok for you after all the trauma you must have had with this place over such a long time. Good Luck & best wishes !!!!!
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Posted By: Jocelyn
Date Posted: 08/October/2011 at 17:14
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cheers jayjan....could be many years if at all before we see any of our 40k...but at least i have a legal document from the courts now...hopefully will mean something if sesimbra go bankrupt! ------------- |
Posted By: cubsur
Date Posted: 08/October/2011 at 19:01
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So what's going to happen to the site I wonder?
------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 09/October/2011 at 12:13
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a very good question cubsur...our solicitor says that there is no way it will be knocked down...but sure you wouldn't know what will happen! such a shame as the view from our balcony is/was stunning.... ------------- |
Posted By: john2604smith
Date Posted: 09/October/2011 at 12:49
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I think another developer will step in, after all the hard work is done and it is in a fantastic location, just above Albufeira and as you say stunning views.
------------- ownersdirect P3708 |
Posted By: Jocelyn
Date Posted: 09/October/2011 at 13:43
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yep, we feel that once sesimbra goes bankrupt (we think that it's only a matter of time), the bank can off load to another developer. sesimbra looked for another loan this year which was turned down, so without finance to get the place up and running again...they are bound to go bankrupt. ------------- |
Posted By: Jocelyn
Date Posted: 09/October/2011 at 13:46
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just thinking of sesimbra's other assets or developments...have no idea what else they own...tried to find out on the internet. they must be a fairly big organisation to have taken on the oceanville project... ------------- |
Posted By: Jayjan
Date Posted: 09/October/2011 at 14:27
| Jocelyn it seems strange that you can't find anything about sesimbra on google searches, is that their correct name in the construction industry, maybe they go under another name. I have also looked, searches don't throw any info up under that name. |
Posted By: Jocelyn
Date Posted: 09/October/2011 at 14:34
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that's really kind of you to search jayjan...they are sesimbra 2000. that's what's on the original 'glossy' brochure that we have here and always what's quoted when dealing with the court
thanks :) ------------- |
Posted By: cubsur
Date Posted: 10/October/2011 at 11:06
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I imagine that a major company on the brink of collapse is fairly unlikely to have a website extolling their achievements. I found nothing of any use on a quick search. This is, the whole area is now littered with half built developments. I agree the views etc from much of Oceanville are stunning but whoever takes it on would presumably have a mountain of debt to clear, let alone spending 000's putting right the 3 years of neglect. I walk past every day. My eyes will be peeled for signs. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 10/October/2011 at 11:56
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cheers cubsur...we're over in 2 weeks...can't wait, so need a break! not much point in me calling up to OV...if you ever do see any movement in the place, i'd be so grateful if you posted for me :) ------------- |
Posted By: J2me
Date Posted: 05/November/2011 at 02:27
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From what I can see of the OV situation, here is a prediction....... Once the original developer is truly bust and ends up walking away, then, and only then will the bank act to minimise the haircut they are about to experience. It is just a waiting game for the banks. But until the developer is bankrupt or similar, their hands are tied. Until then it probably looks like and is (in all reality) a loose loose situation for prospective buyers. All the lost opportunity. From the banks perspective, the bank will probably have advanced XX% (perhaps 80 - 85% of the original sales price) in mortgages to the developer and quite possibly - less than amount is due from the prospective buyers. Remember that my argument is hypothetical - but it might not be that far from reality. The bank probably uses the highest realistic value in order to prop-up the asset value (on their balance sheet). Their new purpose will be to seek to get as close to a break-even situation as possible, given the several highly profitable years during which they charged the developer interest - they may not loose too much in the end if they sort it out FAST. Bottom line is that the bank that advanced the mortgages to the developer is not lost. They have first call on all the assets. They do not strictly have to honour purchasers contracts - but they will probably offer the promissory buyer the opportunity to close but they don't have to be terribly nice about that. Prospective buyers are welcome to chase after a new shell company that has absolutely no assets, or an older company that carries a load of debt. The point is that they will (probably) get nothing if the choose to chase the developer, no matter what they do. As I see it, there may eventually be 2 alternatives, pay the balance and own the property - or walk away and forget the deposit. To purchase will offer closure, but at what price. There will be no nice trimmings as promised by the developer. Just the property. The communal area's will probably generate a small income for the bank and any hotel/bar/restaurants will be leased to a large hotel chains who can start-up operations using their own resources. ------------- |
Posted By: cubsur
Date Posted: 05/November/2011 at 09:46
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And we wonder why the financial services industry is held in such
contempt by so many, investing money that is not theirs into
hare-brained schemes. Small investors lose their money but the idiots in charge don't (often) lose their jobs. Meanwhile in Oceanville, the weeds continue to grow, the properties slowly deteriorate through lack of maintenance and there was talk that there is subsidence under the hotel. As it is a month or so since I took a picture. I will have a walk round there on my way out and about over the weekend. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: cubsur
Date Posted: 07/November/2011 at 17:05
The recent rain has encouraged the weeds. Here's a shot taken Sunday with the view everyone paid for but may never get. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 07/November/2011 at 17:23
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stunning view eh!
I heard a rumour that the builder has gone bankrupt and the 3 banks who financed this project have stepped in...waiting for my solicitor to advise me ------------- |
Posted By: cubsur
Date Posted: 08/November/2011 at 10:22
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There's a couple more of Sunday's Oceanville pictures at the end of this album https://skydrive.live.com/redir.aspx?cid=6a2a1c7daaee306d&page=play&resid=6A2A1C7DAAEE306D%218266 - https://skydrive.live.com/redir.aspx?cid=6a2a1c7daaee306d&page=play&resid=6A2A1C7DAAEE306D!8266 So, banks with money? This could be interesting with everyone else pleading poverty ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 08/November/2011 at 11:07
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ah great, didn't notice the other pics....
will post if i hear anything else from my solicitor...too many rumours over the years ------------- |
Posted By: john2604smith
Date Posted: 08/November/2011 at 12:49
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Hopefully this will be the end to this debacle and a new beginning for Oceanville and all the people who bought apartments there. It is/could be stunning. the location is excellent and the facilities are fabulous. Let's hope they get there act together !
------------- ownersdirect P3708 |
Posted By: mg09mail-temp
Date Posted: 21/February/2012 at 01:20
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Hi, I wondered if anyone had heard news about Ocean Ville, the developers or banks? Any update is welcome. Thanks,
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Posted By: cubsur
Date Posted: 21/February/2012 at 08:16
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Still the same scene of advancing dereliction. I live just along the road. Even the weeds have given up growing. I have neither seen nor heard anything new for months. Interesting though if you go to Google and tap in 'Oceanville Albufeira' the first half a dozen or so listings are for booking agencies, so anyone casual observer would be forgiven for thinking that it is an open and thriving concern! You've prodded me to go by that way, camera in hand. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 21/February/2012 at 10:19
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only touched base with my solicitor a few weeks back....there is no news.... ------------- |
Posted By: mg09mail-temp
Date Posted: 21/February/2012 at 23:40
| Thank you for your prompt replies |
Posted By: Andrew
Date Posted: 22/February/2012 at 09:49
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We had a look through the fence on our way past two weeks ago and Toms words above are very true, it's no surprise that the whole thing is deteriorating, crying shame. ------------- Andrew |
Posted By: cubsur
Date Posted: 22/February/2012 at 13:49
It is a sorry sight - earlier today ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Jocelyn
Date Posted: 22/February/2012 at 14:17
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oh dear...not good...wonder what it's like inside...maybe some russian billionaire could rescue the place.... ------------- |
Posted By: Jocelyn
Date Posted: 22/February/2012 at 14:19
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thanks cubsur for that...did you see anybody? security guard? ------------- |
Posted By: john2604smith
Date Posted: 22/February/2012 at 15:10
Why, Jocelyn, do you fancy that bench !!  ------------- ownersdirect P3708 |
Posted By: Jocelyn
Date Posted: 22/February/2012 at 15:14
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lol...i fancy breaking in and taking 'MY' flat screen tv and anything else i can get my hands on!! ------------- |
Posted By: cubsur
Date Posted: 23/February/2012 at 08:56
I did actually see a security guard and he saw me taking pictures. He stared for a while from about 100 yards away then went as I turned away. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Jocelyn wrote:Posted By: crabman
Date Posted: 23/February/2012 at 18:19
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hi i bought a apartment at ov in 2005.I was corresponding with other owners on eye on worldwide but forum seems to have disappeared.I was in Albufeira in Oct 2011 staying at the BOA Vista apartments,near Vitorias bar.I visited ov and it wasnt good viewing and was there is nobody to talk to.Im going back over in APRIL to see if anything has changed.Still a great place to visit. TEL |
Posted By: Jocelyn
Date Posted: 23/February/2012 at 19:24
hi crabman...i think i remember your username from the eye on world forum....there's a few of us from the forum on a group in facebook. are you on fb? we bought in 2005 aswell... ------------- |
Posted By: cubsur
Date Posted: 21/March/2012 at 09:18
Oceanville looming over the town but taken from the other side, across the valley. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: crabman
Date Posted: 26/March/2012 at 21:19
| Hi, is anybody on this forum trying to get there deposit back and if so have you had any joy.Ive been trying since June 2008 i do remember MARK H having his deposit returned in MAY 2008 but i didnot know his solicitor name. |
Posted By: Jocelyn
Date Posted: 26/March/2012 at 21:26
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hi crabman....i've just sent you a pm ------------- |
Posted By: tyrone
Date Posted: 03/April/2012 at 22:17
I have also paid a deposit for an apartment in Oceanville, I have pretty much given up hope on seeing a cent back, is anyone clearer as to what the problem is with Oceanville. Is it disputed ownership or bad construction it does look tired now but it was fabulous. Heart breaking
|
Posted By: Jayjan
Date Posted: 03/April/2012 at 23:38
| Tyrone, hopefully Jocelyn will see your post & reply as she seems to have information on experiences on whats happening on this resort being a buyer herself.. |
Posted By: Jocelyn
Date Posted: 04/April/2012 at 17:23
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hi Tyrone not sure what communications are like with your solicitor...but the latest is that sesimbra have won their case to have their planning application for OV altered. so they have all the relevant documents in place, habitation / tourist licence...just no bank to lend them money. they are not bankrupt yet! and the banks don't want them to be declared bankrupt either. pm me...there are a few of us on a group on fb that share information (not that we have any more that what i've said here)...but it's just nice to be able to chat with others in the same boat... ------------- |
Posted By: J2me
Date Posted: 04/April/2012 at 20:22
| Oh that is encouraging Jocelyn. It has been an epic wait (and no doubt a lot of anger too) but it would be great to see it start being what it is supposed to be. |
Posted By: Jocelyn
Date Posted: 04/April/2012 at 20:35
time will tell eh! would be nice to get closure one way or the other....if only we had a crystal ball!!  ------------- |
Posted By: Jayjan
Date Posted: 04/April/2012 at 22:22
| Good luck Jocelyn, hope it all works out ok for you and the others who have invested money in Oceanville. Finger crossed. xx |
Posted By: Jocelyn
Date Posted: 04/April/2012 at 23:10
cheers jayjan...me thinks i will still be updating this thread for a long time yet! xx ------------- |
Posted By: Jayjan
Date Posted: 04/April/2012 at 23:40
| awwwhhhhhh bless, how soul destroying. Maybe Sesimbra has a conscience, oh dear "I dont think so" Joking aside good luck & best wishes and hope it does have a positive outcome. |
Posted By: tiganut
Date Posted: 05/April/2012 at 11:37
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One day,when I see a new post on this topic,I hope to read that is all resolved,& the owners are allowed to move in. ------------- He Who Dies With The Most Toys Wins |
Posted By: cheekygirl
Date Posted: 05/April/2012 at 13:42
Me too. Wouldn't that be fantastic for the folks concerned. ------------- Loving it in the sun |
Posted By: Jocelyn
Date Posted: 05/April/2012 at 16:03
ah, you are all too kind...THANK YOU... my hubby thinks we will never get our money back...he keeps telling me to forget about it....but i still have a glimmer of hope....in any case, keep you all posted ------------- |
Posted By: crabman
Date Posted: 23/April/2012 at 17:20
| Going out to Albufeira May11.I will go to ov to see if anything has changed.I met another Cardiffian who has bought an apartment at ov and like myself was asked to to put euros in Portuguese BANCO IN 2007 but every so often i get a statement with lot less money in it,as it is Portuguese i dont know what im supposed to be paying for. |
Posted By: cubsur
Date Posted: 23/April/2012 at 17:23
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Well there's certainly no sign of anything happening on the ground as it were. Crabman - tell us the words on your bank statement and we will do our best to tell you what you are paying for. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: cubsur
Date Posted: 26/June/2012 at 09:51
June 26th 2012 ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: john2604smith
Date Posted: 26/June/2012 at 10:04
What a shame, lovely complex in a fantastic location  ------------- ownersdirect P3708 |
Posted By: J2me
Date Posted: 26/June/2012 at 20:36
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Ouch! That hurt..... It needs to be sorted. To see the vested interests promote and/or approve new developments that are only going to cause damage to the economy in the short & medium term - while this top notch facility sits idle, in desperate need of the TLC and investment that owners are willing to provide - seems perverse. The longer this goes on, the greater the number of owners who cannot complete due to radically changed circumstances (not of their own making either) will become. |
Posted By: Jayjan
Date Posted: 26/June/2012 at 22:02
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J2me apparently the builder is having problems borrowing money to complete it after winning a case to have their planning altered. (maybe they are now defunct, who knows) Jocelyn forum member she posts on here occasionally has actually invested in this place. Read the whole story, I think you have actually posted on this thread previously http://albufeira.com/forum/forum_posts.asp?TID=3852&PN=1&title=oceanville" rel="nofollow - http://albufeira.com/forum/forum_posts.asp?TID=3852&PN=1&title=oceanville
------------- Polli the dancing cat strikes again. |
Posted By: jamieandanne
Date Posted: 27/June/2012 at 09:21
| I also noticed 5 or 6 shutters had been forced on the ground floor yesterday. Thieves, squatters?!!! |
Posted By: J2me
Date Posted: 27/June/2012 at 19:42
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Your right Jayjan, I have posted on OV before. While it is built at the top of the hill overlooking the old town, and as such a bit OTT (as in a dominant feature), they are intended to be a quality development, adding value to the whole town. Rumour suggestS that the habitation licence has been granted. One would have assumed that was the last serious hurdle because it would never have been granted if there was any doubt about matters such as title or outstanding planning infringements, etc. Assuming that the developer has mortgages registered against the individual properties (as is normally the case while they still own them), one would imagine that the banks would be eager to assist the developer in off-loading those same properties to promissory buyers. Since there has been zero movement that we know about, I am assuming that there is still a problem. Perhaps an outstanding judgement against a stakeholder or perhaps the habitation licence has not been granted. We really are in the dark about it - but so are the promissory buyers. Having had our own property purchase delayed for a few years, I really feel for these people who have invested significant amounts. Hence, it needs to be sorted. I don't see any champions willing to make that happen though..... |
Posted By: Jocelyn
Date Posted: 07/July/2012 at 23:25
i've not heard a peep from my solicitor since january and don't see the point in emailing her because she never had any news and keeps telling me that she will be in touch when she has. awful really that we don't even get one communication a year from the developer...c'est la vie or should i say 'que é a vida'  as i've already said, sesimbra won their case for their planning application, but the 3 banks involved aren't lending....their last loan application was filed in Dec 2010 and was turned down...our solicitor saw this....so no funds to get the complex up and running will post if i hear anything.... ------------- |
Posted By: J2me
Date Posted: 09/July/2012 at 21:16
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Jocelyn, that one loan might have been turned down because the bank valuation was considerably lower than the purchase price, so much so that the promissory buyer could not bridge the gap. I have seen several cases of this happening and it then becomes an very difficult battle for the buyer to reclaim their deposit, even with the extra clauses inserted in the promissory contracts. The buyer is entitled to their refund but the developer is in no hurry to oblige, even if it can be afforded. Has anybody actually established for definite if the habitation licences were actually granted? Because it is a matter of record, it only requires an enquiry at the planning office to confirm the status. |
Posted By: Jocelyn
Date Posted: 09/July/2012 at 22:51
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------------- |
Posted By: Jocelyn
Date Posted: 09/July/2012 at 23:02
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thanks J2me :) I have an email from my solicitor saying that the habitation licence was in place....but that the tourism licence had expired, sure that was 3 years ago. another chance of getting our money back is if sesimbra are declared bankrupt and i go to court and claim my refund from their seized assets. i have no idea how many creditors would be lining up for their money in that scenario! and it's not in the banks interest to declare them bankrupt as i think they would have done so by now.since this saga started, our solicitor say it would be take years to resolve....6 years this year since we should have signed deeds...long time eh! ------------- |
Posted By: KateJulian
Date Posted: 16/August/2012 at 20:51
Hi everyone. My boyfriend and I put down a deposit for an apartment and have virtually given up hope of ever seeing the apartment or our money ever again!!! We haven't actually got anything official saying that it hasn't complete or explaining the current situation with it. We are looking at changing mortgage lenders to try and get a more competitive rate, but we are struggling with trying to prove the situation with Oceanville as it is classed as an 'asset' despite the fact that it has never completed. Does anyone have any letters, emails etc... saying Oceanville hasn't complete or similar?Nightmare!!! Any help would be greatly appreciated... 
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Posted By: Jocelyn
Date Posted: 16/August/2012 at 22:17
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Hi KateJulian....welcome to the forum :) As you have already read, I have tried to give any updates about Oceanville. If I hear anything from my solicitor, I always put it up. Oceanville has not completed. Can your Portuguese solicitor put something in writing for you to show to your bank? If you took out a loan for the deposit of say 40k in Portugal, are you saying that you don't have any repayments left on this loan. You should request a statement from your bank confirming this. or if you used personal savings for the deposit, I don't understand why you would have this issue. Maybe I'm stating the obvious, but when you are taking out a mortgage, you usually have to give 6 months bank statements...so surely any monthly mortgage repayment / personal loan repayment for Oceanville would show up and as you don't have a loan repayment, I don't understand why your bank have asked for information about oceanville. Just an idea, go to a broker...chat with him about your situation and start the mortgage process over again with a different bank? I might have mis understood your situation.... ------------- |
Posted By: KateJulian
Date Posted: 17/August/2012 at 08:47
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Hi Jocelyn, thanks for your reply! The bank have requested a letter/email from our Portuguese lawyer to confirm that Oceanville hasn't complete but the lawyer who dealt with our purchase of the apartment seems to disappeared! She hasn't responded to emails and when we googled her she was no where to be found - hence I was asking if anyone has any letters, emails confirming that Oceanville hasn't complete. With regards to looking at different mortgage lenders, it's a bit more complicated than I made out as we only have the option of literally one or two lenders as I own an apartment in the UK as well to complicate matters and I have also just given up work as we have not long had a baby so with the current lending situation in the UK there are only few lenders who will look at us. I hope this explains the situation a bit better! I have googled Oceanville for hours trying to find something that says it has never complete but other than this forum there really isn't anything! |
Posted By: Jayjan
Date Posted: 17/August/2012 at 09:59
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Could you not contact (or maybe visit would be best if possible) Albufeira Camara (town hall) to see if they can help, surely their planning dept must have records of the development & its demise. Or maybe contact another lawyer who could sort the problem out for you. ------------- Polli the dancing cat strikes again. |
Posted By: Jocelyn
Date Posted: 17/August/2012 at 10:05
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i was just about to suggest the camara aswell jayjan as they definitely would know. also the british / irish embassy?! my solicitors details are: Suzana da Silva Advogada - Lawyer Suzana da Silva Law Office Encosta das Oliveiras nº 13 8125 - 481 Vilamoura Portugal http://www.suzanadasilva.com/" rel="nofollow - www.suzanadasilva.com Tel: 00 callto:+1351%209665" rel="nofollow - 351 9665 54004 Fax: 00 callto:+1351%202893" rel="nofollow - 351 2893 14451 Skype: suzanadasilva I'll have a look over the weekend at my emails from Suzana and if anything specifically states that oceanville has not completed, i'll pm you to arrange sending you a copy.... ------------- |
Posted By: Jayjan
Date Posted: 17/August/2012 at 10:18
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Katejulian the email for the British Embassy (Consulate) for the Algarve is bc.portimao@netcabo.pt put FAO of Clive Jewell as your header he is the British Consulate, I am sure he will try to give you good advice. There is also this weblink http://ukinportugal.fco.gov.uk/en/about-us/our-consulates/algarve/contact-us
------------- Polli the dancing cat strikes again. |
Posted By: cubsur
Date Posted: 17/August/2012 at 11:15
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Seeing the recent posts on this topic, I was reminded that it's a couple of months since I posted a picture. At the risk of depressing some of you, I took a few pics on the way back from town earlier. Here's a sample; the rest are in a small album http://sdrv.ms/Ptcqti" rel="nofollow - http://sdrv.ms/Ptcqti I feel for everyone who has suffered at the hands of the various incompetent companies and individuals involved in this shambles.  ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: KateJulian
Date Posted: 17/August/2012 at 13:25
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Hi Jocelyn and Jayjan. Thank you so much for your responses and for trying to assist me. Jocelyn - If you do have any emails or letters or just anything in writing confirming the current situation with Oceanville and the fact that it hasn't complete then that would be fab. The latest doceumentation we have is an email from Pluriholidays from 13th January 2009 saying about the licence issues, we have nothing past this date! Jayjan - Thank you for the email address, I am going to email now to see if the British Consulate can help... I hope they can! Thank you again!!!
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Posted By: Jocelyn
Date Posted: 18/August/2012 at 21:34
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Hi again Kate, just been going through all my emails from 2009 / 2010 to see if any will help you. If you pm me with your email address, I'll send you them and hopefully one of them will help. ------------- |
Posted By: crabman
Date Posted: 21/September/2012 at 22:39
| just returned from albufeira.went to ov even run down it still has spectacular views, it should not be allowed to go to waste.It has so much potential,without doubt the best pool ive seen.Found it strange that one villa was immaculate grass,hedge cut there own pesonnel pool clean etc which ive never noticed before.Coming up to 7 years since i bought at ov,i guess you just got keep on hoping.Also where i was staying colino do mar there is a new hotel being buit, are the banks lending again.CRABMAN |
Posted By: cubsur
Date Posted: 22/September/2012 at 13:20
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Opposite the Colina do Mar there is another, smaller, holiday development that has lain dormant for the best part of two years since being completed. Is that the one you mean? The banks are maybe lending enough money for building to begin then it runs out. The whole area is littered with half built hotels and resort developments, now gradually crumbling into dust. Corrupt local councils are giving planning permission left and right and centre in return for kickbacks. It is truly a bad situation. ------------- Albufeira Resident www.algarvebus.info public transport information for the Algarve |
Posted By: Walrus
Date Posted: 22/September/2012 at 14:30
I didn't realise that place up on the hill was Oceanville, it has always looked very 'fantasy futuristic' to me (I've never been up close to the complex), like something out of "Thunderbirds" perched up there. I feel very sad for all who invested in the place. Gotta feel somewaht sorry too for those poor folk who own villas on Rua do Cerro Grande across the road from the awful mess of the half built hotel/apartment complex (? - hotel I think). Not only have they lost their great views but they're faced with a building site too! ------------- Do not meddle in the affairs of cats for they are subtle and will pee on your computer! |
Posted By: MarieS
Date Posted: 16/October/2012 at 13:15
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Hi everyone, So pleased to have found this forum. Like some of the other users here I used to follow this whole sorry mess on EyeonWorldwide until it got taken down. Like many of you we put a deposit down on an apartment at Oceanville in November 2005 and like many of you, seven years later we have neither an apartment nor our money back. We're taking it through the courts through our solicitor but it's a long, slow process with hardly any updates and we're reliant on forums like this to hear news. Jocelyn, I've appreciated your updates on here, thank you and cubsur, however depressing the photos may be, it's good to see how the development looks. We now live in Auatralia so don't get much chance to visit the Algarve and see the place for ourselves. Jocelyn, I've searched for the page you mention on Facebook but couldn't find it. What is it called please and I'll definitely join, just in case this forum disappears one day! The only bit of information I have is that our solicitor says the next court session for us is at the end of February (9 months after the last one which basically said yes, you're entitled to your money back but, no, we don't have it) I'm determined not to give up on this, so happy to discuss any ideas that might help resolve this situation for us all, although I'm realistic enough to know how difficult that may be! Looking forward to keeping in touch with you on this. Marie |
Posted By: Jocelyn
Date Posted: 16/October/2012 at 14:26
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Hi Marie, I'm delighted you found the albufeira forum...don't worry, this forum is not going anywhere :) i'll pm you with the facebook details, there is only 5 of us on it and as you can imagine we've not had any news at all this year and so the saga continues....but it's nice to keep in touch with other 'owners' in case any of us hear anything. i've over in albufeira next week (we go over 2-3 times a year), so if i see a security guard wandering around, that's about all i can hope for at this stage.... ------------- |
Posted By: KateJulian
Date Posted: 16/October/2012 at 20:36
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Hi everyone. Just to update you, we have just come back from Portugal and paid Oceanville a visit while we were there. Same old situation I'm afraid... It looked as derelict and overgrown as always and other than the usual security guard, there was no one to be seen... :-( Kate. |
Posted By: Jocelyn
Date Posted: 16/October/2012 at 20:55
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ah great Kate...save me the bother calling up to see the place next week! tbh as long as they have a security guard floating around, someone / somewhere must still have a vested interest in the place...gives us a .00001% glimmer of hope perhaps! pity they can't (won't) share any information with us though! ------------- |