A brithish-led investment fund has taken over a gold resort development scheme in Murcia which was one of the first in Spain to collapse when the economic crisis hit the country more than 10 years ago. Juan Pacheco is the chief architect and engineer for the project at Altaona Golf and Country village, supported by the entire team of Pacheco and Associates Architects.
Our chief architect explained that there are around 400 dwellings already built at the site which is close to the Sierra Altaona and around 10 minutes from Corvera international airport.
Our team will now be constructing another 1500 homes, along with other amenities. We are going to build four show villas any moment now, followed by an aparthotel, the mirador...
The new owners 0f the golf course and the Altaona residential development are a group of international investors with more than 40 years experience in partnership with Hazledene Group, a Scottish real estate developer.
The noted that all the Altaona assets have been purchased with shareholder equity, and there is currently no bank or third-party finance involved. Their funding is being used to reinstate the first nine holes of a golf course at the site, which is due to open in November, with a second nine holes due to follow 12 months later.
More investment, which is underway, will see the creation of a golf and activity hub, which will be constructed in late 2019, along the initial show-homes. Licences for the refurbishment of a parador and the creation of new facilites such as a restaurant, bar, shop, gym and spa area have been applied for. The new club house is earmarked for a cluster of buildings dating from the 18th century which include a house and an old chapel.
All these protected buildings will be sensibly rehabilitated, maintaining its old flavour and will become the center for the new Altaona Village Country Club. Construction of a new entrance, along with the initial phase of new homes is currently being tendered to contractors, and will begin on-site later this year.
The villas, redevelopment of the parador, and the new entrance (along with the associated facilities and landscaping) have been designed by Pacheco and Associates Architects.