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Work starts on Imperial Ocean Plaza - Gibraltar

Monday, 27th March 2017

Work starts on Imperial Ocean Plaza - Gibraltar Image

Thirty months after the Imperial Ocean Plaza development was sold out, work has finally begun on the Imperial Ocean Plaza site at Ocean Village Gibraltar.

In September 2014, some 122 apartments were snapped up by eager investors as the first new launch of any scale since the banking crisis eased, came to the market. Chestertons acted as development consultant and lead sales agent selling over 50% of the units in just a week.

However, frustration set in amongst investors as the start of construction was delayed beyond even the most pessimistic expectations. However, in the thirty months since launch, prices have forged ahead and those investors who took the plunge so long ago will shortly be rewarded as the start of construction means that resales are now permitted by the developer. Virtually all investors will be sitting on a profit.

As the expert on these off-plan apartments, we are well placed to match buyers with sellers. We know that some original purchasers now wish to move on due to change of circumstances. We also know that the demand for Ocean Village continues apace, especially when it comes to access to the most sought after pools and gardens in Gibraltar.

If you do wish to purchase in what will probably be the last Ocean Village development to benefit from the famous pools and gardens, please contact us for our advice.

Completion of Imperial Ocean Plaza is expected in mid-2019 and prices start from below £200,000. There are a selection of studios, one, two and three beds available as resales with both marina and Africa views.

View examples of Studio - one bed - two beds - three beds  for sale.

 

Contributed by Mike Nicholls