EL MADROÑAL Plot for sale
An Outstanding Opportunity Plot Size: 5,668m2 Permission to Build 20% Density
Price: €295.000 (discounted by €155.000) Price per m2: €52
EL MADROÑAL Area Overview - La Reserva del Madroñal Location Located directly opposite the prestigious La Zagaleta country estate, La Reserva del Madroñal is a stunning retreat in the midst of unspoilt nature with amazing views over the Mediterranean and the famous landmark mountain, La Concha, yet within easy reach of sport, leisure and entertainment facilities. Marbella is just twenty minutes away and the cosmopolitan port of Puerto Banús is even closer.
Security The estate is secured via six gated entrances each of which has access either via a remote control or video entry for guests. In addition 24 hour patrolled security and strategically placed cameras ensure peace of mind for all.
Privacy A minimum plot size of 2,600m² has been implemented to ensure utter privacy and harmonious integration of homes into the environment. Set amidst poplars and fragrant pines, it is a location that will be fully appreciated by those looking for an exclusive residence in one of Southern Spain´s finest addresses. Exclusivity La Reserva del Madroñal is home to some of Europe´s finest mansions and palaces. The area has consistently attracted the rich and famous, and is a popular haven for those seeking to escape the prying eyes of the world´s media. Former guests and residents have included Baroness Thatcher, the Goldsmith Family, Princess Diana, Kylie Minogue, Mariah Carey, and countless well-known stars from the worlds of sports and entertainment.
EL MADROÑAL The Plot The large plot of 5,668m2 occupies an entire hillside, with a south-easterly aspect affording views across a green valley and towards the Mediterranean. Like most of the plots in El Madroñal, the land slopes from the road to the valley floor, in which a natural stream provides a marvellous acoustic backdrop during the winter months. Importantly, this particular plot benefits from a width of over 70 metres, meaning that it´s possible to construct a villa in many different ways and styles, offering a solution for a wide range of budgets. The plot is also located at the end of one of the private country lanes within the estate, affording the owner ultimate privacy.
EL MADROÑAL The Investment Opportunity Cut-Price Land in an Established Environment El Madroñal enjoys a track record dating back over 40 years, and the vast majority of plots have now been developed. Available land in the area is therefore hard to source. This plot has a ´per square metre´ price of just €52, making it by far the cheapest plot within any of the 5-star country estates in the area. Even the nearby development of Los Arqueros (considered to be a less exclusive address) has an average ´for sale´ land price of over €300 per square metre, while land prices within the neighbouring La Zagaleta estate can run to over €400 per square metre.
Villa in El Madroñal
The buyer of this plot will have 2 post-purchase options: 1. Land-Banking Although Spain has undoubtedly suffered as a result of the recent worldwide property slump, it is widely acknowledged that the most desirable and exclusive areas will be the first to emerge from recession and are still held in high regard. For sure, these areas include the very small number of guarded and secure villa urbanizations, such as La Zagaleta, El Madroñal and Sierra Blanca. With neighbouring land prices being so much higher even in this current climate, the buyer of this particular plot could expect to see a significant uplift in value, certainly within the medium-term, and most probably within the short-term.
EL MADROÑAL
Villa under construction on a similar plot in Monte Mayor Country Club
2. Developing the Plot & Exit Options Due to the width of the plot, there are several ways in which to develop the land. Architect´s plans have already been drawn up for a 5 bed villa of around 450 m², with a CGI – proposed villa design projected build cost of between €750,000 and €850,000, depending on the specifications chosen to finish the project. Therefore, for a total cost (land plus project) of between €1 million and €1.2 million, it should be possible to create a stunning property that could be expected to achieve a sales price in excess of €1.5 million, even in today´s market. An alternative to this strategy would be to construct a larger house, similar to the mansions that are commonly found within the neighbouring La Zagaleta estate. A top-spec mansion of around 700m2 would likely cost in the region of €1.4 million to €1.5 million to construct. Villas of this type would commonly fetch a price of around €4 million within La Zagaleta, but even if you allow for a more realistic sales price within El Madroñal of around €2.5 million, this would still create a substantial margin of between €700,000 and €800,000 for an investor. It should also be noted that mortgage finance of up to 70% of the construction costs could be made available during the build cycle, subject to status. Whichever option is chosen, one thing is sure. The finished project will dominate the entire hillside and, due to the linear nature of the plot, would certainly make an impressive ´statement´. If an investor wishes to retain the property after completion, one can expect a typical rental income of between €5,000 and €7,000 per month for a luxury 5 bed villa within El Madroñal on a long-term let, or alternatively for short holiday lets, a figure of approximately €5,000 per week could be expected for high season bookings.
EL MADROÑAL El Madroñal - in The Media
“Situated on the exclusive El Madronal estate, near Puerto Banus, Villa Tranquilo, which has a bar and cinema, attracts a top crowd. Its owner has let it to the Tottenham Hotspur footballer Jermaine Jenas.
It’s now on the market for £2.5 million through Carrington Estates, but it’s bringing in money while the owner waits for a buyer *. He charges £6,800 a week in high season and £4,000 in low and has made £54,000 this year”. * This property was sold by the developer for a substantial profit in 2010
EL MADROÑAL
“Luxury, tranquility and privacy. You can soon see the pretty multicoloured faux village of La Heredia, impossibly clinging to the side of the mountain, a sort of Spanish Portmeirion. La Heredia forms the southern most point of the luxury estate of El Madronal. Like no other development, El Madronal gives little impression of being a planned residential estate. The luxury villas that are scattered along the hills and valleys are all totally individual save that they share a country style of architecture. The distances between them seem more reminiscent of a remote community built over several centuries. The truth is of course that they are only 15 minutes from Puerto Banus and the majority are between 2 and 15 years old. The local authority slapped a density of build ruling on this area and it is impossible to build on more than 20% of the allocated plots. The connecting roads lead off 6 separate gated entrances all of which snake through the pine covered hills to several private villas. The tranquility and privacy of this area as well as the spectacular Mediterranean views have ensured its popularity. Proximity to the centre of coastal action suggests that this is rural Spain for softies, Andalucia country living without the toil and strife and what a fantastic fusion of town and country it is. As you drive along these private avenues, there is a definite feeling that the residents of these beautiful villas share a common secret that you have been left out of. A sort of fellowship of “smarty pants” who know that they can trade tranquility for the fast lane whenever they choose. Villas here start at around €1,000,000 for plots near the road rising to €17.500,000 for a hill top palace at the centre of the estate. 24-hour security patrols and electronic gates bring peace of mind and although use of a car is imperative there are two excellent restaurants and a late night supermarket just a couple of minutes from your front door. A pretty good way to exist we think”.
EL MADROÑAL Price Comparison Data Plots for Sale - Neighbouring Locations Area
Plots
Total Land Mass
Total Price
Avg Plot Price
Avg Price per m²
La Zagaleta
11
66,115 m²
€26,700,000
€2,427,273
€403.84
Marbella Club
14
63,031 m²
€12,230,000
€873,571
€194.03
Los Arqueros
14
29,589 m²
€9,281,000
€662,929
€313.66
Monte Mayor
3
7,581 m²
€1,319,000
€439,667
€173.99
Total
42
166,316 m²
€49,530,000
€1,179,286
€297.81
Alternative Plots for Sale - El Madroñal Plot Size
Plot Price
Comments
5,818 m²
€1,500,000
Includes project design
5,000 m²
€1,350,000
Includes project design
5,000 m²
€800,000
Includes project design
5,320 m²
€1,000,000
Includes project design
3,482 m²
€400,000
5,000 m²
€798,000
Area
Plots
Total Land Mass
Total Price
Avg Plot Price
Avg Price per m²
El Madroñal
6
29,620m²
€5,848,00
€974,667
€197.43
Actual Plot for Sale Area
Land Mass
Price
Price per m²
El Madroñal
5,668 m²
€295,000
€52.05
EL MADROÑAL
Villas for Sale in El Madroñal Plot Size
Bedrooms
Bathrooms
Build Size
Price
2,350m²
3
2
190m² + terrace
€995,000
5,000m²
4
4
273m² + terrace
€1,175,000
3,878m²
4
4
270m² + terrace
€1,400,000
5,000m²
5
3
279m² + terrace
€1,495,000
1,830m²
5
5
318m² + terrace
€1,595,000
6,100m²
4
4
301m² + terrace
€1,750,000
5,100m²
5
5
411m² including terrace
€1,900,000
4,000m²
5
5
600m² including terrace
€2,495,000
5,100m²
5
5
980m² including terrace
€2,650,000
3,400m²
5
5
688m² including terrace
€2,950,000
5,300m²
5
5
930m² including terrace
€2,950,000
15,000m²
7
7
1,100m² including terrace
€3,500,000
13,198m²
5
5
771m² including terrace
€3,800,000
4,480m²
7
4
1,038m² + terrace
€4,400,000
10,000m²
4
4
870m² including terrace
€7,995,000
35,000m²
10
8
2,000m² including terrace
POA
Notes: The variable prices and values of properties within El Madroñal are dependent upon a number of options, apart from obvious factors such as size: - - - -
Age and condition of the property (El Madroñal is a well-established community, and many homes were built 10 or 20 years ago). Views Privacy (normally, the larger the plot, the greater the privacy). Location (plots located within the heart of the estate tend to be more valuable due to the absence of noise from traffic on the Ronda Road, which can adversely affect some of the homes closer to the entrance gates).
Price Data taken from the following sources: - Infocasa Real Estate Network (500 member agents) - Panorama – Marbella´s longest-established real estate agency - Diana Morales Properties – member of LPA (leading Property Agents of Spain), affiliate of Christie´s Great Estates Correct as of 11th October 2010
EL MADROĂ‘AL
Summary
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Gated, 5 star neighbourhood
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Exclusive setting, offering privacy and security
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Low-cost land purchase, offering considerable savings on market value of comparable plots
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Variety of exit options, offering scope for capital growth and/or income generation