Full Description

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Only a 20% Deposit required, 80% payable upon completion by prearranged mortgage.

The name of this development really sums it up; Green Paradise is located in the stunning new residential part of Pego in amongst orange groves with a mountain backdrop and coastal view yet only 8km from a fantastic beach. The development will consist of two apartment buildings totalling 104 properties surrounding the two large communal swimming pools and gardens. The developer has secured all the surrounding land totalling 30000 m2 which will ensure that all future building is in harmony. In addition the developer is one of only two that are involved in the imminent development of a residential golf and leisure complex on the edges of Green Paradise with 1100 properties to be constructed in the future. This is the only proposed Golf Course that has been granted a licence by the regional authorities of Valencia.

Prices
This development has been on the market since March 2005 with a payment structure of 30% deposit and 70% due on completion. To complete the remaining sales the developer is now offering a 20% deposit and 80% which makes these remaining apartments a good investment opportunity for our clients.

There are two apartments blocks, each four storeys high, gated and includes underground parking for each unit. The remaining availability are the ground floor apartments with gardens.

2 bedroom and 2 bathroom with 111.49 m2 at 175,000 euros - plus 7% sales tax and 2,000 euros utilities fees
3 bedroom and 2 bathroom with 139.23 m2 at 205,800 euros - plus 7% sales tax and 2,000 euros utilities fees

Investment required
For a two bedroom apartment
20% plus 7% sales tax = €37,450.00 euros
Balance due on completion, possible by pre arranged mortgage

Location profile for Pego in the Costa Blanca area
Pego, Denia on the Costa Blanca is situated around a 1 hour drive away from Alicante airport and Valencia airport. From the town of Pego you have easy access to the motorway A7 for travelling to Alicante or Valencia.
The pretty town of Pego is surrounded by a magnificent orchard area giving the whole area a lush green appearance. The town is located between the coastline and the foothills of nearby mountains which provide breathtaking views from Pego. The quaint town remains steeped in tradition and has a population of around 9400. At the heart of the town centre you will see the beautiful Church of the Assumption with its bell tower and small cannons, alongside open air cafes, restaurants, shops and all the amenities needed for day to day living. Anything you can’t find here you will find in Denia which is just a short drive away.
Permitted for construction on the outskirts of the town is a new Golf and Leisure complex which will be seen from this development. The complex will be home to a 18 hole golf course, a 5* hotel, spa and gym facilities. This development alone will certainly increase the profile of the area bringing into the town more tourism and open new opportunities for businesses.
There is something on offer for everyone with the beaches and all their amenities a short drive away, golf courses and horse riding nearby for you to enjoy in the warm climate and the peace and tranquillity of the town.

Airport
Alicante airport is approximately 1 hour south, with Valencia airport a little over 1 hour north.

Road Link
The motorway A-7 will give you excellent access to Alicante and Valencia. From the A-7 or N-332 you take the CV-700 into Pego.

Views
Absolutely stunning and breathtaking views over orange groves and the National Park beyond and also the proposed new Golf Course development.

Beach
The sandy beach at Oliva is approximately a 10 minute drive away and the sandy beach at Els Poblets is approximately a 12 minute drive away.

Golf Course
A licence has been permitted for Verd Pego Golf Course which will border this development and is due to start construction during 2006. For those of you who cannot wait, within a short drive away are the 18 hole golf club at the Club La Sella, designed by José Maria Olazabal, the Javea Golf Club and the Oliva Nova Golf course designed by Severiano Ballesteros.

Developer
If you buy into this development you will certainly be rubbing shoulders with the developer as he is a very much respected Pego man himself. The developer is a family business that has been established for 30 years and has an impressive portfolio of various constructions in and around Denia. This company is a very much a forward thinking company and this is very evident in the fact that they are one of only two developers that are involved in the imminent development of a residential golf and leisure complex on the edges of Green Paradise. This is the only proposed Golf Course that has been granted a licence by the regional authorities of Valencia.

Predicted completion date
Christmas 2007

Our opinion
There are so many positive factors surrounding this development that we are prepared to offer our highest endorsement of its investment potential. This is a unique and in demand type of property for Pego which will absolutely ensure its popularity both for prospective purchasers and just as importantly for rental purposes. This is the first development in the new residential area of the town and is within sight of the new proposed and licensed golf course, hotel and residential complex. Being a pioneering project, the developer understands that this development will form the benchmark for all their future planned developments in the town and have taken the view that success will be ensured by offering the highest specification at an incredibly competitive price. The developer is planning three price hikes during various stages of construction and as interest in this development is very high we urge you to act now to avoid this being one of those “I wish I had” stories. In conclusion ideal property type, premium situation, ideal location at a fantastic price making this development suitable for selling just prior to completion although we believe the capital growth that will be achieved within the next 5 years at Green Paradise makes it ideal as a longer term proposition.

Estimated gross annual long term rental €7,000 (based on 10 months occupancy)
NB. It is not possible to calculate the holiday rental value as there are no similar properties in the vicinity which is an additional point in its favour. However a similar property in Denia would receive €8400 for the 12 week peak summer rental.
Additional point
This projection takes into account the capital growth on property values in this area currently at 12%.