A British entrepreneur is reportedly behind the most expensive property currently for sale in Spain — a palatial villa in Marbella’s exclusive Sierra Blanca enclave, priced at a staggering €70 million.
Villa Bellagio, the 5,500 sqm mansion set on a 14,000 sqm plot, is a luxury fortress. With 12 opulent suites — eight of them 50 sqm each — and a bottom floor that reads more like a wellness resort than a basement, the property aims to tick every box on an ultra-high-net-worth buyer’s wishlist.
The lower level includes a private spa, heated indoor pool, Turkish bath, Finnish sauna, massage room, professional hair and beauty salon, and a state-of-the-art gym. Upstairs, entertainment reigns supreme: a full-sized bowling alley, billiards room with bar, private cinema for 22 guests, and even a climate-controlled garage fit for an automotive art collection — plus space for 30 more vehicles underground.
“It’s designed for unrestricted enjoyment,” says the listing from Engel & Völkers Marbella, the agency handling the sale.
A low-profile owner with a high-profile circle
Despite commanding attention with this headline-grabbing sale, the mansion’s current owner, Joe Ricotta, is not a household name in Spain. A British businessman once at the helm of PCL Transport 24/7 Ltd, a refrigerated logistics company, Ricotta sold the firm to South African powerhouse Bidvest in 2015 in a deal estimated at around £45 million (€52.5 million). Afterwards, he diversified into property, including in Marbella, where he’s kept a relatively low profile, all according to Spanish press reports.
The market for ultra-luxury in Marbella
Whether Villa Bellagio finds a buyer at the asking price remains to be seen. While record-setting listings make headlines, closings often come in under asking — sometimes well under. Nevertheless, demand for top-end properties in Marbella’s trophy locations has held up remarkably well among investors from Europe, the Middle East, and beyond.
In the post-pandemic period, the Costa del Sol — and Marbella in particular — has re-emerged as a global magnet for wealth, thanks to a winning blend of tax-friendly policies, year-round sunshine, and high-end amenities. Sierra Blanca, often referred to as Marbella’s version of Beverley Hills, continues to attract figures like Ricotta who seek a blend of lifestyle, seclusion, and investment value.
