THE PUERTO ANDRATX PUZZLE

The Brief

Client looking for a holiday property with three bedrooms, pool & AAA sea view
The only location in consideration was Puerto Andratx
Prepared for minor renovation work

The challenges

The clients had been searching by themselves for well over two years, flying regularly from UK. They had been in touch with countless agents during this time & had been shown a great number of properties which fulfilled their dream criteria apart from one point… their budget. They were adamant that they would not consider any other location than Puerto Andratx where price per m2 is eye watering, the highest on the entire island. In fact, they would not even consider Cala Llamp or Cala Moragues, just three minutes’ drive either side of the port where prices at the time were marginally less.

Puerto Andratx is a picturesque, unspoilt, natural harbour with low rise buildings. As it’s not a beach resort & there are no all-inclusive hotels, it’s not conducive to family holidays with young children. It’s an adult destination with a yacht club & pretty harbourside packed with sophisticated restaurants & eateries. The coastline here is dramatic & crammed with impressive properties, most of which enjoy splendid sea views. The challenge here was to manage the clients’ expectations & show them the reality of the market in this area. They had probably missed out on opportunities & all the while the market was moving away from them as buyer demand was steadily increasing whilst housing stock was decreasing.

The search

We sourced a third line villa in contemporary style just above the clients’ budget, which needed no work & only eight minutes’ walk to the harbourside. On three levels, the roof terrace, complete with summer barbecue area & jacuzzi, had wonderful sea views, as well as the living level below. The ground level featured all the bedrooms, with access to a lovely pool area. There were partial water views from here.

This was likely the last available opportunity within the clients’ comfortable spend. There were discussions whether water views from the pool would be obscured in future but research showed that pine trees below the villa had reached maximum maturity. Following an accepted offer & survey, the clients moved on to option contract stage but at the last moment had second thoughts – the “upside down” layout wasn’t ideal for them.

At this point, either the location, budget or type of property had to give.

The Result

It was clear to us that these clients were still dreaming of AAA sea views but unable to make compromises. A few weeks later, we told them we had a very special property for them & despite pleas for more information & photos, simply took them to a modern, frontline building under construction. A unique spot, the water views were WOW, directly overlooking the harbour entrance, with every kind of interesting marine traffic from fishing trawlers to yachts & sailing dinghies. The building comprised only six, three bedroom apartments (two of which were already reserved), with underground parking.

Furthermore, you could walk to the yacht club from here, or directly down to the “locals” beach of Cala Fonolls which many Andratx buyers don’t know about. They immediately put down a deposit on a ground floor unit with an enormous private terrace area, sharing a large rooftop pool with only three other residents. A successful end to a three year search for these clients.

The development was not widely advertised, the promoters were Mallorquin brothers (a builder & architect) from Manacor, the other side of the island. They had owned the land for more than forty years, having built the neighbouring apartment block in the late 1960s.

Other Case Studies

Investment Property

Clients looking to sell their rental property portfolio in the Netherlands to reinvest in Mallorca
Any property needing renovation/upgrading, in the right location to attract buyers for resale
Any location on the island

Plot For Construction

A flat plot of 650 – 1,200 m2 for construction of a detached 4 bedroom property with pool
Preferred area Camp de Mar – Andratx (SW Mallorca)
To be used initially as a holiday home, then sold within 2-3 years