PROPERTY SEARCH

Date Published: 03/03/2023

ARCHIVED - The Corvera Golf and Country Club has been sold

ARCHIVED ARTICLE -

The golf resort in central Murcia was bought less than a week after it went on sale

<span style='color:#780948'>ARCHIVED</span> - The Corvera Golf and Country Club has been sold

The Corvera Golf & Country Club in central Murcia has been sold, according to J&B Invest Spain. The real estate company advertised the golf course on its website on Thursday February 23, 2023 for an undisclosed sum, and was purchased by an as-yet unknown buyer within the space of just a week.

Specifically, the property listing was for an “Urban plot for sports use intended for complementary uses of the golf course… Located in the private residential complex Corvera Golf & Country Club.”

As the ad stated, “It has a total area of 549,193m2 and a maximum permitted buildable area of 1,500m2.

“Inside the plot there are several buildings with a computable area of 1,400m2,” among which were the main building, the club house with its restaurant, bar, kitchen, gym, shop and offices.

Also for sale were the parking area for golf carts, club storage, service changing rooms and two warehouses, as well as the practice boxes and car park: in short, the entire golf course up for grabs.

A storied history

Corvera’s golf course and resort was marketed as the hot new ticket for sports and luxury living when work began in 2008. However, like so many real estate developments – especially golf resorts and complexes – it fell foul of the financial crash and the bursting of the property bubble, and the promoters didn’t sell anywhere near as many of the homes there as they wanted to.

Many were hoping that the opening of the new airport in Corvera would help to boost property sales on the resort, but that was too little, too late.

In fact, the site was left without many of the facilities and infrastrrcutures it promised, including a 5-star hotel, a football pitch and a medical centre, and several British and other expat homeowners tried to sue the property developers, to no avail.

When they found themselves with unsold homes on their hands, the owners even rented the empty properties out at bargain-basement prices of 150 euros/month to refugees, to the chagrin of those who paid over 350,000 euros to live on the luxury resort.

In 2017, the Corvera Golf & Country Club went into receivership after being unable to pay its debts.

A bright future?

Now, it seems – with a renewed interest in the property market, and in particular in renovating and investing large sums into improving the Region’s golf resorts, as is happening with the Condado de Alhama Golf Resort – the sale of the Corvera golf course could mean it will be brought back into operation within the space of a year or two.

This would be excellent news not only for golfers, but for anyone looking to buy a home in one of Murcia’s urbanisations and for tourists who may be able to come and rent at the resort.

So far, though, no plans have been officially announced about any future developments or refurbishment that may take place at the Corvera site, and the identity of the buyer is being kept confidential.

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