Playa Vista

[milktrayman]

Inviting any existing buyers or potential investors of Playa Vista development being sold by Compass Properties in Tetoun to discuss and share views.

 

[Investy]

Given Im hearing the smaller one off developments are proving difficult to let out as the developers simply have no post sale interest, whats your expectation on rental yield over the year?

 

[milktrayman]

Well, from what I have seen so far it looks very much a seasonal rental yield that you will be getting, around 3 months worth. I am not intending on renting it out to be honest and intend to sell when the time is right.

 

[Jesus of nazareth]

Investy, what will you be getting from your investment.

People in glass houses..........................

 

[Investy]

Jesus

You ask what will I be getting, well I do not want to hijack this thread so a short summary;

Onsite largest marina in med, onsite 7km beach, onsite 3 golf courses, hundreds of shops etc so the hope is the tourist exposure will be potentially year round.

The analogy of Centreparcs is a reasonable yardstick - they get year round trade yet the the hotels down the road are more seasonable simply due to the fact CP has lots of onsite facilities that draw people year round no m,atter the weather.

 

[Jesus of nazareth]

You cant compare Centerparcs, the main reason people go there is because they are covered from the bad weather here in the UK.

Morocco does not have our bad weather and Saidia does not have a cover on it so Saidia will not have the advantage that Centerparcs benefits from over here.

Anyway back to Playa, Milktrayman I agree that there will be a three to four month rental period for this resort along with all of the northern resorts. How far have they got with the construction?

 

[milktrayman]

Jesus,

They have started the construction of the foundations I see from my last update ....but the show aprtment is still not complete!!!I cannot understand what is taking them that long to finish 1 show aprtment to be honest. But I am glad to see the construction started on the different levels of teh development.Do i think that they will deliver to their proposed dates , no way , do i care not really as long as I get what I was sold and it makes me money.
Have you invested yourself, and is Investy referring to PV about the 100 of shops?

 

[milktrayman]

Jesus

You ask what will I be getting, well I do not want to hijack this thread so a short summary;

Onsite largest marina in med, onsite 7km beach, onsite 3 golf courses, hundreds of shops etc so the hope is the tourist exposure will be potentially year round.

The analogy of Centreparcs is a reasonable yardstick - they get year round trade yet the the hotels down the road are more seasonable simply due to the fact CP has lots of onsite facilities that draw people year round no m,atter the weather.

I feel PV is not neccessarily geared towards teh centerparcs type of tourist atrraction, ifeel Saidia or tangiers is more suited for that. PV is a bit unique based on its location and enclosed feel.

 

[milktrayman]

Release of commercial units at PV

I have recently had an update from Compass regarding commercial units going on sale as well for around 20k!!

 

[milktrayman]

Update

I have just heard that Radisson will be the Hotel located at this site as well as TGI Fridays as a restaurant.Anyone else got any latest news?

 

[milktrayman]

Completion dates

I have just been told today that the completion dates have been moved

For phase one it is December of 2009, phase two will be August of 2010 and phase three will be December 2010.There are updated pictures on the Compass website, does not seem much is happening though and they still have not completed the showhouse yet!!!!!