Owner Theo op de Hoek has sold the Vigilante beach hotel in Makkum, including the closed new construction, to the project developers from Groningen. With this step, he hopes to be free from financial worries.
These concerns became painfully apparent at the end of last year when contractor Van Wijnen suddenly halted construction of the hotel expansion. Op de Hoek wanted to build an extension with 32 luxury apartments and 25 hotel suites on Beach Street. He has owned the Vigilante Hotel since 1997. He also owns the villa park Beach Resorts Makkum and the Ursemmerhof theme park in North Holland.
Last year, the entertainment entrepreneur found himself in financial trouble when the sale of part of his companies failed. This situation was exacerbated by errors in the hastily introduced automation system. Op de Hoek doesn't want to say much about the canceled sale at the moment. “I made an incorrect assessment, which cost me and our companies dearly.”
When he could no longer pay contractor Van Wenen, the multi-million dollar project was halted. At that time, ten apartments had already been sold to individuals. Signs appeared on the fence indicating that the contractor was exercising a lien on the construction site. Op de Hoek's banking assets were also seized.
Late rent payments
Problems were also noticeable at the Beach Resorts Makkum villa park. Invoices from garden suppliers have not been paid for months, which is why one of the landscaping companies decided to confiscate the invoices here as well.
A large number of Dutch and German homeowners, who rent out their beach villas for holidays via Beach Resorts Makkum, still have to pay a quarter or more of their rent arrears. These amounts reach hundreds of thousands. Some owners have taken legal action or want to switch to another vacation home rental company.
Op de Hoek has now appointed an interim CFO to sort things out. In a letter to homeowners earlier this month, the businessman apologized. “Your patience and flexibility have truly been greatly requested,” he wrote. “Financially, the solution is within reach by utilizing our real estate and refinancing.”
Young project developers
To resolve the financial impasse, Op de Hoek searched for a business group willing to take over the Vigilante beach hotel, the adjacent restaurant and possibly other real estate components.
These were the young project developers Peter Bosmans and Philipp Bakker from Groningen. They are assisted in the background by their father-in-law, real estate investor Peter Packer. Their company BB Vastgoedbeheer has grown strongly in recent years by purchasing properties in other parts of the country. They have operated serviced apartments in Enschede, Deventer and Apeldoorn under the name The Residence for four years.
Op de Hoek says the Vigilante beach hotel deal was completed within a few weeks. “Bosmans and Bakker gave me a good feeling that the future of the company was secure and that they were able to act quickly. I wanted to get out of a difficult situation and this was the best solution.”
Create peace
The goal is to move in August. Peter Bosmans says the future owners want to continue the hotel on the IJsselmeer in its current form and retain staff. “It is important to create peace again, clarify doubts and achieve new construction.”
Bosmans and Bakker had an initial discussion with contractor Van Weenen. Discussions will also follow with buyers of apartments in the new building. It is currently unclear when construction work on the hotel expansion will resume.
Van Wienen states that the Op de Hoek accounts are still under seizure and that the right to retain them is still being exercised. “But we are particularly pleased that we are now having constructive discussions with each other,” company spokesman Mark Denslagen said.
Orsimerhof
When asked if Op de Hoek wanted to strip more parts, he remained vague. It doesn't look like the 65-year-old businessman will be retiring anytime soon. He remains busy with the Ursemmerhof theme park, which he bought in 2016.
He wants to turn Ursemmerhof, roughly between Alkmaar and Markermeer, into the park of a luxury villa, Beach Resorts Noorderduyn. This project has not started yet, but Op de Hoek says: “We are busy with plans and hope to start this fall.”
The judge must first rule on this matter. Chalet owners who had to leave the square filed an appeal against the termination of their rental contracts.
