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Condado de Alhama Golf Resort: Al Kasar Commercial Centre SOLD!

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The Al Kasar Retail Centre on the Condado de Alhama Golf Resort is sold after years of speculation

Condado de Alhama Golf Resort: Al Kasar Commercial Centre SOLD! The Al Kasar Commercial Centre on the Condado de Alhama Golf Resort, which serves as the urbanisation’s main retail and shopping hub, has been bought by an as yet undisclosed buyer after years of speculation and attempts to form consortiums to purchase the property from owner Sareb Bank.

Condado de Alhama Golf Resort: Al Kasar Commercial Centre SOLD! News of the sale has been widely welcomed. Denise Devlin, Director and Marketing Manager of Condado Invest, the longest established on-site property specialists for Condado de Alhama. said “This is great news and the perfect Christmas present for business owners, homeowners and residents in the Condado Resort. We are looking forward to seeing what plans the new owner will have for the commercial centre and with the new residential properties and other facilities planned and under construction, it is going to be exciting times ahead.”

She added, “After the period of being in the possession of the bank, we are expecting new active management for the centre and new businesses to start filling the empty units, especially in view of the hundreds of new domestic properties and the sports and leisure amenities planned over the next few years. At Condado Invest we have details for any prospective businesses wanting information about renting commercial units.”

The sale will come as a relief to the majority of the centre’s owners and users as it must be said that previous owner Sareb Bank did not fully engage with their responsibilities as landlord. A situation which prompted the Condado de Alhama Community of owners to approve legal action against the Bank at the Board of Presidents meeting in June 2023, after repeated requests for repairs and maintenance of the centre went unanswered, resulting in businesses and members of the Board of Presidents funding and carrying out maintenance and repair work.

SAREB, or the ‘Bad Bank’ as it is also known, was set up by the Spanish State through the Bank of Spain in 2012 to acquire and manage the failing banks, toxic debts and assets amassed by the construction and banking sector after the 2008 property crisis, the bank operates by restructuring loans and balances and selling off assets in an orderly manner to reduce the risk to Spanish tax payers and stabilise the construction and banking industry. However, it seems that the portfolio of properties the Bank holds is only managed from a financial aspect not the day-to-day running of properties.

SAREB acquired the Al Kasar Commercial Centre as part of the Polaris World property portfolio after the construction group collapsed and went into bankruptcy in 2016 with huge debts.

With new owners of the Al Kasar commercial centre and all the other residential, sports and leisure plans in the pipeline for the Condado de Alhama Resort, including a sports complex in conjunction with Alhama de Murcia Council, business and home owners are definitely looking forward to “Exciting times ahead”.

For detailed information on commercial and retail units in the Al Kasar Commercial Centre contact Condado Invest on +34 868 082 019, email info@condadoinvest.com or visit the Condado Invest website.

For more local news, events and other information go to the home page of Condado Today

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Condado Invest, the on-site property specialists for Condado de Alhama Golf Resort

Condado Invest have the largest portfolio of properties for Condado de Alhama, including Private resales, New build apartments and Villas, and Long term rental properties. They offer the best choice of property and price, so whether you are buying or selling Condado Invest is the first port of call to satisfy your requirements, with an expertise in sales and after sales care that is second to none for Condado de Alhama Golf Resort.

Established in 2003, Condado Invest was recently acquired by Denise Devlin, who has 15 years’ professional experience in the property business. On-site specialists for Condado de Alhama and unrivalled for their honest and ethical approach, Condado Invest S.L. is a fully licensed, registered and insured company and a member of the Association of International Property Professionals AIPP, so you can rest assured you are dealing with a well-established and professional company.

The focus at Condado Invest is on offering full services in finding the right property for clients searching for their dream home in Spain. In the years of providing these services, over 1,000 properties have been found for clients who have become friends. With Condado Invest’s experienced and dedicated team, pre-sales and most importantly after sales service are second to none and have earned them the highest reputation in the region, taking the stress out of entering a property market and system you may not be familiar with. Their dedicated staff will help and guide you to acquire your new home in the Murcia sun.

When purchasing a property, Condado Invest can deal with your lawyer and even advise or appoint one for you. The services of a lawyer are strongly recommended to take care of the various administrative and legal elements of the sale, ensuring the correct searches are carried out and representing you at the Notary when the change of ownership takes place, power of attorney can be arranged so the lawyer can act on your behalf in your absence.

To ensure your purchase or sale progresses smoothly Condado Invest will appoint a dedicated member of staff with the expertise to oversee the transaction from start to conclusion, making the process and easy and painless as possible, keeping you informed at each stage and helping with information and guidance based on unique knowledge and experience of the individual sale, having all the contacts and resources necessary to ensure your property transaction is legally safe.

To further take the stress out of buying a property in Spain, Condado Invest can open a bank account for you, arrange NIE numbers for you (Tax number in Spain necessary for your purchase), arrange connections of water and electricity, set up services for the payments of community fees, and anything else that is necessary to ensure that your experience with us is always a pleasant one.

If it’s local information you're looking for, Condado Invest staff will be glad to help you with facts and advice regarding the area and further afield.