RBH are better placed than any other International agent to provide genuine investment advice relating to property investment in and around the world famous La Manga Club Resort.
OVERVIEW OF OPPORTUNITY
RBH are excited to be involved with an opportunity that will offer our investors a genuine opportunity to invest in “BUILT and KEY READY” fully refurbished property 200 metres from the beach in an area that is undergoing right now 45 Million Euro localised regeneration scheme.
The small fishing town of Portman was an old mining town and as such the bay historically suffered from waste from the mine being deposited on its shores. This has of course previously made its beaches unattractive to tourists and residents.
The town itself could not be better located, its surrounded by natural parkland with endless hilly walk ways and cycling routes. 5 minutes’ drive takes you to the world famous La Manga Club resort which is Spain’s premier resort with over 35 bars and restaurants open all year long. There are 26 championship tennis courts, 8 full size football pitches and of course 3 championship golf courses on La Manga Club. The west course is accessed between La Manga club and Portman town, literally a few minutes’ drive.
The town itself has a couple of supermarkets, a couple of banks, local bars and restaurants, pharmacy, doctor’s surgery, small marina and around 1 KM of beach front in a secluded bay.
Steve Long, owner & MD of RBH is a former member of the board of directors at the AIPP which is the UK trade and regulatory body and was also the ambassador in representation for Spain. Steve has appeared on the No1 UK TV show “A Place in The Sun” as a local Murcia property expert.
In recent years Steve has worked closely with banks and resort owners including La Manga Club in the disposal of property assets. No other agent including resort based agents have sold more properties than Steve Long on the resort. Sales included over 50 properties on Las Lomas Spa resort with finance provided from a leading part owned state bank.
PROPERTIES ON OFFER
Now, we are offering four investment property types:
1 bed, 1 bath apartments. ground and 1st floor. €69,000. 59 M2. click here
2 bed Apartments on either ground floor with terrace or 1st floor with terrace and solarium. €88,500. 83 M2 click here
3 bed, 3 bath apartments. €160,000. 121 M2 click here
All properties are fully refurbished and come with white kitchen goods included. Pre-installation for air conditioning, new kitchen and bathrooms. All properties include a parking garage under the building.
There are also townhouses built on 3 levels including a large underbuild area which can accommodate a third bedroom or provide a perfect games room or additional living space. click here
HOW WILL I DOUBLE MY MONEY?
Portman has a permanent occupation of only 800 residents mostly local Spanish with a few UK and foreign owners.
The town is benefiting right now from a 45-million-euro regeneration programme which is clearing all the waste from the old mining activity and actually bringing the Mediterranean sea 250 metres closer to the town. Our properties will be 200m from the newly created bay and newly formed beaches with imported golden sand.
The project includes 2 Chiringuitos (Beach Bars) circa 1 KM of beach, new promenade and walk ways linking to the beach to the town. A new marina with 300 moorings.
There can be no doubt that property in this town will be in high demand given the proximity to La Manga Club, Cartagena City, the newly regenerated beach etc. and of course other projects will be released due to supply and demand as developers create new projects in pre-approved development zones.
Properties this close to the beach with similar sizes are on the market today for around double the price of our offer price. The average unit size for a 2 bed 2 bath is 60 M2 and prices are circa €120,000 making a M2 average of around €2,000. (Our properties are being sold fully refurbished at circa €1,000 M2!) There is no real comparison in terms of location as this is a unique bay position in a town not densely populated and not saturated with low quality build units aimed purely at the holiday market.
Therefore, the interest from clients for this location once regeneration works are complete in 3 years’ time will outweigh supply availability resulting in prices rising again, there is no reason why properties in Portman should not reach similar prices to for example Cabo de Palos which is the most expensive coastal area in Murcia to buy property right now.
Key facts “La Manga Versus Cabo de Palos”
Portman to La Manga Club 5 Minutes - Cabo to La Manga Club 20 Minutes
Portman to Cartagena City 25 Minutes – Cabo to Cartagena 40 Minutes
Portman to Airport 30 Minutes - Cabo to Airport 45 Minutes
Property Appreciation in Cabo de Palos is expected to rise annually in line with national and regional conditions circa 3 to 6% per annum
Portman is expected to see significant price rises at the end of the ongoing 45 Million euro local regeneration programme which is fully budgeted and underway.
Prices should be brought in line with other coastal frontline towns such as Cabo de Palos and in 5 years that equates to well over 100% on investment.
Location and information maps