A JV of British and Chinese investors snap up this Spanish airport for a mere 7000 pound!
This deal could go down as one of the major bargains of the year and mark a huge turnaround in the fortunes of its new owners and all those affected by it. It cost over one billion euros to build, a failed Keynesian type project no doubt.
Now with one of the longest runaways in Europe the Chinese plan to turn it into a logistics hub. I wonder if they also bought up the adjacent land before this announcement because it will surely be increasing in value for quite a long time.
A JV of British and Chinese investors snap up this Spanish airport for a mere 7000 pound!
This deal could go down as one of the major bargains of the year and mark a huge turnaround in the fortunes of its new owners and all those affected by it. It cost over one billion euros to build, a failed Keynesian type project no doubt.
Now with one of the longest runaways in Europe the Chinese plan to turn it into a logistics hub. I wonder if they also bought up the adjacent land before this announcement because it will surely be increasing in value for quite a long time.
Maybe, but by all accounts it is in the middle of nowhere. Apparently that matters. Seems to be why the Brits are closing manston in Kent, and building a new runway at Heathrow. Madness if you ask me.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Yes it is over 120 miles from Madrid but they intend to develop as a cargo type logistics hub as opposed to a passenger terminal which previously failed and will invest a further 100 million euro in this regard. The runaway is over 4kms long and can take A380's. Think Silk Air, of course there is never any certainty but I think this is yet another shining example of the huge implication for the wave of outward Chinese investment aimed at increasing trade and exchange.
By the way the new Dubai World Center has provision for 100 A380's on the tarmac at anyone time!
Yes it is over 120 miles from Madrid but they intend to develop as a cargo type logistics hub as opposed to a passenger terminal which previously failed and will invest a further 100 million euro in this regard. The runaway is over 4kms long and can take A380's. Think Silk Air, of course there is never any certainty but I think this is yet another shining example of the huge implication for the wave of outward Chinese investment aimed at increasing trade and exchange.
By the way the new Dubai World Center has provision for 100 A380's on the tarmac at anyone time!
This is the future.
I had assumed they were doing an asset raid and just going through the motions. But we will see. Spain Spain is recovering it seems.
Yep the cycle as always is turning. Flights will recommence, local land values will rise to such an extent they will rise quicker than the equivalent wage for workers in the airport and this will certainly go down as the deal of the year.
There were no flights to begin with, that's why the operator went bankrupt. Do you practice being thick?
Loki, its pretty obvious that you dont really know that much about anything except petulance.
Andrew Judd
1 Aug 2015, 12:14 AM
It appears the 'reserve' was 28million and bids remain open till September.
Yes this is true but its safe to say that no investor is going to come up with 28 million euro by mid September therefore this deal is as good as done.
Loki, its pretty obvious that you dont really know that much about anything except petulance.
I'll take that to mean you don't know jack-shit about this airport, or why the original operator went bankrupt. It's because it's location is no use to anyone.
The closest town is population 75,000. There is nothing in the area to attract tourists. It has no industrial or commercial centre for business traffic. It is useless for freight because it can't compete with Madrid-Barajas.
But tell me more about your "land-values" theory.
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