Auction of 113 Apartments Complex in Tias, Lanzarote (Canary Islands)

By appointment of the Bankruptcy Administration of YAIZA CANARIAS, SL, Bankruptcy Procedure 189/2018, Commercial Court No. 1 of Las Palmas de Gran Canarias

IAG AUCTION

Apartments complex called "BLUESEA", consisting of a total of 113 apartments, with a total surface area of 4,303.04 m2, as well as 16 premises corresponding to commercial premises and other types of properties that make up the common areas, with a total surface area of 648.80 m2. It is made up of a total of 129 registered properties.

The complex has 113 rooms and 226 beds, with a bar-restaurant, supermarket, meeting rooms and different leisure and service areas.

It is located in a tourist area of Lanzarote's Island, at Calle Anzuelo 60, in the municipality of TIAS (Lanzarote, Las Palmas). It consists on two homogeneous "L" shaped constructions, one of them formed by three-storey flats, and the other "L" formed by two-storey flats.

In the central part of the complex, within the unbuilt area, is the swimming pool and the solarium area, and the rest of the unbuilt area of the plot has been set aside for green spaces, corridors and communal areas.

It also has three premises for supermarkets and restaurants.

The building was initially constructed in 1988, and a total reform was carried out in 2006, aimed at improving its habitability conditions, consisting of the replacement, restoration or modernisation of its different constructive elements and installations: water, façade, plumbing, drainage, electrical installation, interior patio and hallway.

The aforementioned property is the subject of a demarcation procedure, the documentation and status of which is attached to the publication of the auctioneer together with the rest of the relevant documentation of the auction. Please see documentation attached to the lot.

It is currently operated by means of a lease contract. See attached contract in the lot.

Starting price: 8.307.532,54€.

Deposit: 5% of the value of the first bid.

Terms and Conditions attached.