The government auction of Macenas Golf was a failure today after not one person bid.
Macenas Golf was up for sale with a reserve price of just €153.089, but with additional debts of some €2.8 million euros. The sale is of some 270,000 square metres of land which includes the 18 hole golf course.
The land was seized after the company which built Macenas ran up large debts with the Social Security department and was forced into liquidation by the State and associated creditors.
A second auction is expected to be held within the next few weeks, probably with the conditions improved.