Sir Alan Sugar buys luxury Hotel Byblos in Mijas, Malaga
Tuesday, July 28, 2009 @ 7:11 AM
According to some recent press reports, Sir Alan Sugar has just bought the luxury Hotel Byblos in Mijas. The property, which had previously belonged to the 'infamous' Spanish property developer Aifos, had been put up for auction, after the Spanish property group had defaulted on its payments to its creditors. Sir Alan acquired the property at auction through his Spanish property holding company for an amazing bargain of just under 3m Euros. The property is said to be valued at around 39m Euros, and seeing as valuers are tending to be slightly more conservative with their valuations at the moment, this deal looks like one of the best property bargains of the year! It is unclear whether he will take on any of the debt (if any) associated with the property, but either way it is a great purchase. Reports suggest the deal will be completed in the coming weeks, so we'll watch the space carefully
Adios por ahora.