Tag Archives: auction

Massive Roquetas property auction complete failure

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There is irritation in Roquetas del Mar today, after the town hall setup an auction to flog off 64 properties, and not one person showed up to bid. The properties have all been seized by the townhall in lieu of taxes. The two biggest lots were the old Hotel Colonial at 1.6 million euros (with further taxes of 1.2 million owing) and Hotel Bellavista Mar at 14 million euros (and a further 13 million owing Continue reading Massive Roquetas property auction complete failure→

Electric price hike on hold after auction annulled

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The Competition Commission has overturned Thursday’s electricity auction, which caused an 11% raise in the price of electricity as from January, citing “atypical circumstances”. Wait – Spain has a Competition Commission? Since when? It does, and it’s called the CNMC. The CNMC refused to validate the results of the energy auction this morning, leaving the national government just 48 hours to decide whether to call for a new auction, or override the CNMC. In short: Continue reading Electric price hike on hold after auction annulled→

Roquetas seizes two hotels and auctions them off for non payments of local taxes

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Roquetas del Mar townhall has seized a number of properties, including two hotels – the old Hotel Zafiro, and the Apart-Hotel Colonial – for non payment of taxes, and will auction them off very soon. Hotel Zafiro has been valued at 11,233,879€, but has a number of charges against it, including two mortgages worth 16 million euros and and embargo of around 100,000€. The Aparthotel has been valued at just under 10 million euros, but Continue reading Roquetas seizes two hotels and auctions them off for non payments of local taxes→