With Spanish, British and Gibraltar elections now all behind us, we have greater clarity of the political landscape ahead. Our article on what’s next for the Gibraltar property market focuses on how the Boris bounce could unleash built up investment decisions in the Gibraltar property market. 

Off-plan property plays a key part in those investment decisions. Recent completions of Clemence Suites, Ocean Spa Plaza, Imperial Ocean Plaza and Quay 29 have resulted in a temporary increase in supply increase for rentals. These properties are being absorbed by the continuing steady demand. Update on the current range of off-plan developments is as below.

E1
Now under construction with great progress on site. 25% of the piling is complete at the time of writing. Infrastructure works for all services will be completed by Christmas. Temporary rockfall mitigation measures are in place protecting the public and the site and Pressto Dry Cleaners are confirmed tenants. We act as development consultants and sole agent. There are a handful of apartments left to sell, to meet pre-completion sales targets.
 
EuroCity
The development has encountered some delays on the piling due to complexities below ground, so first instalment notices on Carrara and Murano are delayed to early 2020. However, in certain areas of the development, construction is ahead of schedule with the lower ground floor car park now taking shape between Carrara and Murano. Eurocity won a range of awards last year in the European Property Awards including Best High Rise Residential Development and Best Mixed Use Residential Development. The developer has given us exclusive access to a small number of additional properties in Carrara for sale. EuroCity is a prestigious mixed use development in Gibraltar’s business district. The views, the design, the high grade specification, the pools, gardens and retail amenities have already made EuroCity a sought after location in Gibraltar’s property sector. Chestertons act as development consultant.
 
Clemence Suites
This sought after development from the developers of E1 has now completed and first occupants have moved in. There are three Clemence Suites resales available from the developer and some further Clemence Suites rentals available.
 
Sylvian Suites
We sold 28 of 38 properties (studios and one beds) in the first sales phase before the summer. The extensive refurbishment and reconstruction of this small development close to Prior Park School and the Arches is now underway. The remaining 10 - 9 units will be released early next year starting at just below £4,000 per sq metre. This is great value for anyone seeking to live close to the town centre and not having to wait too long for completion which we expect in Jan 2021. Contact us as development consultant and main agent if interested.
 
The Hub
Completion is forecast for June 2020 with construction well advanced. We have access to a show flat by prior appointment. There are some resale properties available from private investors. The first release of the Hub sold out in a week back in December 2017. We expect the Hub to be very popular with tenants. Contact us as development consultant and main agent if interested.
 
Imperial Ocean Plaza
This final Ocean Village development, with its access to the most popular private pool and garden resort in Gibraltar, has completed. Some Imperial Ocean Plaza resales are available from purchasers who do not wish to move in or rent.
 
Marina Club
There are a handful of properties left off market.  Please contact us for availability.
 
Forbes
Located close to Filomena House and the Holiday Inn Express in Devil’s Tower Road, construction of Forbes is expected to start imminently. There are a handful of Forbes properties left, mostly the 3 and 4 beds.
 
Midtown
See current availability.
 
Quay 29 & 31
Quay 29 completed in September 2019 – still people waiting to complete whilst Quay 31 is forecast to complete in 2020.
 
See current availability - Quay 29 and Quay 31.
 
Arengo’s Gardens
Located in the Upper Town area of Gibraltar with completion forecast end of December 2020, there are still a handful of Arengos Gardens 1,2,3 and 4 bedrooms apartments left.
 
Continental Suites
Planning consent application was deferred last month due to the unavailability of the developer. The meeting is now expected to be held in Jan or Feb 2020 - Chestertons has been appointed development consultant.
 
Kings Bastion Views
Planning consent application was deferred last month due to the unavailability of the developer. The meeting is now expected to be held in Jan or Feb 2020 - Chestertons has been appointed development consultant.
 
Rialto Courtyard
Planning consent application was deferred last month due to the unavailability of the developer. The meeting is now expected to be held in Jan or Feb 2020 - Chestertons has been appointed development consultant.