Platinum Luxury Auctions Offers Planned Luxury Resort Development to Highest Bidder

LA PALMA, Canary Islands, Nov. 9, 2011 /PRNewswire/ -- On Friday, December 16, 2011, a luxury resort development opportunity on the Canary Island of La Palma will be sold to the highest bidder at luxury auction. Ultra-luxury real estate auction specialist Platinum Luxury Auctions LLC, a United States firm headquartered in Miami, Florida, will handle the sale.

The auction will feature a unique parcel of land, measuring nearly 17 acres in size (67,122 sq. meters) and offering breathtaking views of the Atlantic Ocean. Included with the land are detailed architect's plans and building permissions for the development of the Hotel La Alegria, a luxury "5 star" resort for up to 116 guests. Due to the property's location in a naturally preserved area, it took more than 12 years for the current owner to obtain proper development rights. The resort will boast features such as outdoor and indoor pools, a spa, conference center, gym, yoga studio, salon and more.

The property is located in Brena Alta, a charming city on the southeastern coast of La Palma, adjacent to Santa Cruz de la Palma, the island's capital city and the location of its main port.

La Palma is a prized tourist destination, especially for travelers from the United Kingdom, Germany and Spain. The island's amazing beauty and natural attractions have earned it the nickname Isla Bonita ("Pretty Island").

At auction, the property will sell "Absolute" to the highest bidder, regardless of the high bid price. Bidders must first qualify to participate in the auction by submitting sealed bids to Platinum by December 9, 2011. The top sealed bidders will be invited to the absolute auction, which will be conducted using Internet and telephone systems for the convenience of bidders worldwide.

For more details on this luxury auction, please visit CanaryIslandsAuction.com or call +1 305.744.5220 (U.S.).

About Platinum Luxury Auctions LLC: Platinum is the only active auction firm founded exclusively on luxury auction experience. The firm's principals have sold more than $225 million in luxury real estate at auction, and have advised or consulted on nearly $1 billion in luxury auction property in total. Platinum also has luxury yacht and aircraft divisions. The firm specializes in luxury assets valued in excess of $1 million. Contact Platinum at +1 305.744.5220 (U.S.), [email protected] or visit www.PlatinumLuxuryAuctions.com.

SOURCE Platinum Luxury Auctions LLC