A joint UK and Irish investment fund has agreed the terms of purchase for a plot of beachfront land on Marbella’s Golden Mile with an asking price of 100 million Euros, reports Country Life Magazine.
“The plot is of approximately 14 acres, has good beach frontage and lies just west of the Puente Romano complex, in the heart of the Golden Mile,” explains the Country Life article.
The plot has planning permission for a build of 20,000m2, and is being sold by the uncle of Bashar al-Assad, Syria’s President.
The plot has been on the market for several years with an asking price of close to 100 million Euros. Local sources say that the vendor turned down several offers close to the asking price, suggesting that the vendor is not someone who will sell unless his financial expectations are met.
Purchase terms may have been agreed, but that is not the same as saying that the sale is in the bag. As anyone who has ever bought or sold property knows, many things can go wrong before the deal is put to bed.
Furthermore, one source informs your correspondent that there is no truth in this story, despite having been reported in Country Life.