May 25, 2012 1 Comment
Lord Sugar has now been waiting three years to finalise a deal to by the Byblos Hotel in Mijas and says he is running out of patience.
The luxury hotel, which has hosted such celebrities as Princess Diana and the Rolling Stones, closed it’s doors in May 2010 after running for almost 25 years.
The Apprentice star and business man paid 1.5 million euros for the hotel’s spa and tennis courts at auction in 2009 where he was the only bidder. This was the third auction held following two previous attempts which failed to find a buyer.
Sugar also offered the owners, Aifos, just under 1.5 million euros for the hotel plot and according to Spanish law he should have won if another bidder was not found and his bid is the highest.
Sugar’s was the only bid received and the hotel should have been added to his property portfolio but he claims he is being hindered at every step.
“I just want an end to the situation where Aifos challenges every court ruling,” he told a Spanish newspaper.
The Lord says he will create employment when he refurbishes and reopens the five-star hotel. The hotel is famous along the coast and abroad and he wants to bring it back to life.
Aifos has lodged at least 10 appeals against decisions by Fuengirola courts despite the bid from Amsprop being legal and the highest.
“Last March the court ruled in my favour, but Aifos appealed in April. My hands are tied, and who knows for how long,” he was reported as saying in Diario Sur.
“We might have the rest but it would be senseless to open the spa without the hotel,” he added.
So far the sale has cost him around eight million euros and in the meantime the hotel is lying empty.