Cheap Property Spain - Alan Sugar May Acquire Byblos Hotel for Three Million Euros

Alan Sugar the British multimillionaire has presented a deal for the Byblos hotel, that will secure a property valued at €39,000,000 for a staggering €3,000,000!

The proposed deal is a result of Aifos, the hotel developer, being unable to keep up with payments to the Bank of Scotland who have now put the 5 star hotel up for auction. Alan Sugars property company Amsprop Spain S.L. has placed the bid in and according to Spanish law if a larger counter offer is not received within a 10 day period, the sale will go through.

Aifos have certainly been at the centre of much controversy over the past few years, with corruption charges, licensing issues and a wholly dissatisfied string of customers. The group bought the Byblos hotel is 2005 for an undisclosed figure, but have filed for bankruptcy this week.

Alan Sugar has acheived celebrity status in the UK as the premier in The Apprentice television show and more recently as business guru for the Labour government enterprise initiative.

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