Merlin Trust Update - May 2020

As promised, we have checked in with the buyers of the Care Home in Spain to see if there are any developments and to ascertain plans for completing their final payments. It is important to note that they have been maintaining their monthly option fees throughout the Covid-19 crisis, in a number of cases paying early, and these funds are being accumulated.

The buyers contacted us last night to explain that while the current “state of alarm” in Spain is due to expire at the end of May, there is a feeling that it may be extended for one more month, until the end of June. That having been said, the buyers have stated that they will seek to do what they can within these constraints to complete the transaction - or at least the transaction for 2 of the 3 properties - in June as suggested in their last update. Much will depend on the restrictions that remain in Spain next week.

We will be in contact again during the first week of June to get an update.