The property tycoons David and Simon Reuben have recently acquired nearly 5km of prime beachfront in Ibiza. The 144 hectares comprise 3 principal plots: Cala Bassa, Cala Conta where you will find the trendy Sunset Ashram beach bar and restaurant (video), and Es Penyal. The deal went through a subsidiary of their Aldersgate Investment Company and the vendors are reported to be a local family called Gallart Sans.
This move caused quite a stir on the Island. Although the brothers haven’t made public their plan regarding these plots, some people in Ibiza have already voiced their concern regarding potential development. A petition at change.org has already collected 4,000 signatures. This petition is organised Movement New Earth (sic), who say they represent “the voice of all brothers and sisters who act as protectors of New Earth and all forms of life.”
This acquisition will come at no surprise and reflects the recent growing trend of UK based investors looking for properties and development in Spain with the Balearic Islands at the top of their list.
» Back to BLOG and NEWS page
- Spain will Top Ranks for Economic Growth in 2015 say OECD and IMF
- Would a Parallel Currency be Possible within The Euro?
- Your Essential Guide to Ibiza
- Overview of the Taxes and Fees on Buying a Property in Spain
- International Investors Bid €200 Million to Buy Spanish Puerto Banus
- Spain Buying Guide
Galleon Property Search Ltd. Buyer’s agent specialised in the search and acquisition of properties in Spain for private individuals and property investors. Spanish property | Mallorca property | Ibiza property | Marbella property | Valencia property | Murcia property | Almeria property