The hotel and residential complex Lanzarote Sands Beach Resort in Costa Teguise went up for auction in April with a valuation of 17 million euros through the gobid.es auction house, which opened the collection of offers with a deposit of 340,000 euros. After receiving several offers on time, the bankruptcy administration is in the process of studying the viability of the offers submitted.
The hotel was built in 1986 and consists of a saltwater pool in the style of a lagoon, several Olympic pools and tennis courts. It includes 368 apartments of different sizes distributed in six buildings. From studios with one bedroom to three-bedroom apartments with kitchen and furnished terrace or balcony, according to idealista.com.
The complex, which has its own desalination plant and supermarket, also includes a playground, a sports area with a gym and stretching room, bicycle repair point, sports shop, spa center and massage facilities.
The resort also includes, among other facilities, a meeting room, laundry and ironing area, self-service car wash, warehouse and office area. It also has several restaurants, bars and terraces overlooking the beach.
In bankruptcy proceedings since 2017
The Lanzarote Sands Beach Resort hotel and residential complex, in bankruptcy proceedings since June 2017, came to the fore a few years ago when the newspaper El País published that a court in Las Palmas was investigating the connection between the partners of the parent company of the hotel establishment until 2008, the Kokorev family of Russian origin, with the Government of Equatorial Guinea, in the face of an alleged case of money laundering.
Meanwhile, the complex changed hands and continued to operate, although it has maintained a debt with the Treasury since then, which in 2022 amounted to 12.7 million euros, so the company is on the famous list of tax defaulters.
