Re: Re: IRM took over Polaris World, now in administration



Thanks for the info sooty, I feel very sorry for your friends. Didn’t P.W. pay Jack Nicklaus to be their face of marketing?

So even at 33,000 euros those so called bargains recently advertised could be more or less worthless with no golf and facilities for leisure 😯

It begs the question though, with so many golf course developments in Spain, how many of the Golf Clubs are making profit/breaking even or losing money, and if they go bust, presumably the premium for buying on a course goes out of the window? Unless another group buys them out 🙄

Spain may have overdone such developments, even some courses I know on the CDS, building stopped completely leaving skeletal blocks, roads unfinished, promised security gates to resort unmanned, landscaping stopped etc 🙄 A lot of owners paid rather large debentures 10’s of 1000’s of euros too 🙄