Six panoramic courts inside a 112-unit resort (50 apartments, 50 townhouses and 12 penthouses), five minutes from Marbella's golden corridor — operated by the coach who ran the neighbouring competition, and modelled with the discipline of people who control construction budgets for a living.
Padel is the fastest-growing racquet sport in the world, and nowhere is demand denser than the Marbella–Benahavís corridor: year-round climate, an international community that plays weekly, and a winter influx from across Europe that arrives exactly when courts up north close. The clubs that exist here run full — and the nearest premium option is five kilometres away.
The Costa del Sol is Europe's only major padel market with no off-season — and this resort sits at its geographic centre, five minutes from the golden corridor.
Not a standalone site: a resort with captive demand, a restaurant, three pools — and winter training camps that fill the hotel in months it currently closes.
The corridor already pays €24–36: NAC fills at €36 running ~12 hours per court per day. We enter at a blended €28 — proven, not hoped for.
A 15-hour day, 365 days. We assume each court sells six hours — 40% occupancy — at a blended €28/hour: above Bel Air's €26, far below the €36 at which NAC runs ~12 hours per court per day. The academy fills the mornings; tournaments fill the weekends; camps fill the winter. And a boutique layer on top: chilled towels courtside, daily court presentation, and AI match-highlight cameras piloted on two courts in phase 2.
At 20% occupancy — a club that has failed at acquisition for two straight years — the contingency plan (lean reception, management at half retainer, hourly coaches that scale down automatically) still holds EBITDA above zero. Sixty percent of the cost base is variable by design.
occupancy at which the club stops losing money with the plan active. The base case assumes more than double that.
Seven years of professional coaching. Former head coach at Villa Padierna Racquet Club — our nearest premium competitor, five kilometres away — and head coach at clubs he built from zero in Bahrain and Manila. RFEP certified, M3 Padel Academy. He knows this corridor's pricing, players and weaknesses from the inside. He will be on court every day.
Project manager and finance director, 12+ years in Costa del Sol construction and real estate. Runs the build to budget — where a 15% overrun is the difference between 15% and 12% returns — then delivers monthly P&L, occupancy, cash and covenant reporting to bank standard.
Majority shareholder. Board seat. Budget approval. Your name on the membership cards, a tournament calendar you host, a place your friends fly down to — with the daily grind in the hands of people who have run clubs before. Owning it is designed to be a pleasure, not a job. The numbers have to work, and they do. But the reason to do this one rather than another 15% is that this one, you get to own.
The base case assumes 50% bank debt at ~3.75%, bringing equity at risk down to €369,525 — but that is one of the structures, not a promise: financing is confirmed by term sheet before the lease is signed, and if the terms fall short, the plan flexes through manufacturer court-leasing, a higher equity share, or a phased build — the unlevered project still returns 11.2%. Drawdown: 15% at lease signature · 30% at building licence · 45% against certified works · 10% at opening. The full 24-page plan, letter of intent and live financial model sit behind this page.
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