The site was first earmarked for development in 1987 and the revised masterplan, which has the full backing of the local authorities, has lowered the original density and spread properties more evenly around the estate creating an all-year round resort.
Conran Group in London has been responsible for the modern, trendy design of the hotel and the properties in the three “villages” around the estate which contain a mix of studios, apartments and houses. Chitra and Roman Stern, who developed the town houses and villas in the first phase of the site, have joined with Nigel Chapman and Nicholas Dickinson of Four Winds Resorts for the development of Martinhal Resort. Chapman and Dickinson are known for their award-winning, UK-based Alias and Luxury Family hotel chains.
The five-star Martinhal hotel has 10 rooms with another 30 spread among eight cabins leading to the beach. On-site facilities for residents and guests include a luxury spa, indoor and outdoor pools and a special area for children as well as a choice of bars and restaurants.
Prices start at 220,000 euros for a studio and the properties are being aimed at investors as well as those who are looking for a retreat overlooking the ocean and the beach. Two purchasing options are offered: the first allows for a 10-year leaseback with guaranteed rental returns rising to seven per cent in year 10. The second, a seasonal leaseback, allows the property to be rented out in high seasons, so the owner can use it during the low seasons.
The Martinhal project represents an investment of over 80 million euros, and it is anticipated that construction will be complete before the end of 2007. For more information, visit www.martinhal.com
