Unique Opportunity for a Brand New Villa on the New Golden Mile. Buyer must finish.
This is a very unique deal for a new build villa in Cancelada, the New Golden Mile. A prestigious corner plot that is fully paid. Upon the plot is a 74% completed villa that has been designed to offer cutting edge contemporary design filled with natural light. The Plot is over 550m2 with a total built surface of 345m2 (Total surface above ground 165m2, Terrace Area 90m2, and basement 90m2). This 3 bedroom, 4 bathroom detached villa with pool is an exceptional deal and has already been valued by TINSA (Spain´s national mortgage valuer at €705,000 (we have the valuation certificate).
Background: La Boladilla Village Resort is a development by ByNOK. Ambiguity over the developer finishing the villas – they are not onsite. The owner of Plot P22 with 74% villa bought off-plan and is now reselling. The price of the plot and "almost-complete" villa is €440,000 which includes a €15,000 payment by owners to install the required infrastructure (electrical, sewage, access road). The infrastructure project now in the hands of the Junta de Compensacion will be completed in 11months (OV Group appointed to manage). At this point any completed villas can apply for First Occupancy License, where a standard mortgage can be obtained. Until then customers can seek a "developer´s mortgage" to complete the villa. The villa completion costs are estimated at under €50,000-€60,000 for a standard toffee finish as per the developer´s original designs. Upgrading/Personalisation are of course an option for any prospective buyers as they will be paying for the completion.
Viewings are available only with special permission via the vendor´s lawyer requesting to the Junta. A full drop box of information including floorplans, plot title deeds, etc can be shared upon customer registration and viewing.
This property carries some risk and is more geared to an investor who can navigate these risks. A legal due diligence has been done highlighting risk and how they can be overcome.