Ibizan 849.Pub

Tri Buy Cherry Pie Talk of a potential Pacha sale was first noted in this report on the sale states that last year “Pacha announced office following a report by Ibiza based journalist Nick that it had a turnover of €78 million, with €11 million in Clayton, several months before the rumours became net profit. It expected that to grow by 8-10%. About two Pacha Group Sold <ul style="display: flex;"><li style="flex:1">widespread conjecture. </li><li style="flex:1">-thirds of its turnover comes from nightclubs and restau- </li></ul>For 350€ million Nick talked of a potential buyout by a then interested rants, with most of the rest coming from hotels, with a Chinese investment concern. As it has materialised the rather smaller contribution from fashion and franchises. business is indeed to be passing into a private investment He goes on to say that Pacha also said last year that it ꢀEquity Investment Group Trilantic are reported to have purchased the Pacha empire. ꢀSale includes the Pacha, Destino and Lio clubs and the Pacha Hotel in Ibiza, all worldwide Pacha venues, and all merchandising businesses. ꢀOwner Ricardo Urgell talks publicly of his views on Ibiza, the sale and the future. <ul style="display: flex;"><li style="flex:1">equity group. </li><li style="flex:1">planned to open 85 new establishments, including hotels </li></ul>The company, Trilantic, are said to be buying the entire and resorts, restaurants and nightclubs before 2025. Pacha group. In the context of shareholder satisfaction it Then, last week, is unlikely the Pacha pie will be sliced up. Nick Clayton’s The Sunday Times reported that the company would focus on opening 25 hotels and resorts in Britain, Spain, France, Italy, Brazil, Argentina, Mexico, China and Japan. In a recent interview with the Diario de Ibiza, owner Ricardo Urgell appears ready to say farewell to the brand, "It hurts a lot to sell Pacha in such a sweet moment," he said. "I feel like an honest person trying to do the best possible," Urgell said legacy on the island. "We have to want more for the island, invest in it, appreciate it and love her, so that we're not only benefitting ourselves. People need to promote projects to improve Ibiza. It's important that the island does not lose the magic." "The island has spoiled areas that will be difficult to recover. “If we continue at this pace, it will eventually move to the north of the island. Music should be controlled (in its legal space). (Continued on page 3) <ul style="display: flex;"><li style="flex:1">The Ibizan, Thursday 20th October 2016, Issue 849 </li><li style="flex:1">links are live in the online edition at theibizan.com </li><li style="flex:1">Page 2 </li></ul>'Put The Sporting Into News Sports At School Age' The Council of Ibiza has organised the first conference 'Promoting Sporting Values in Schools', which will take place from 21 October to 15 December 2016 at the Cultural Centre of Jesus, and are aimed at all participants in the Ibiza sports world interested in educating values in sport at school age. The program 'We put values in sport at school age' aims to reduce behaviours contrary to Fair Play in "health tourism, wellness and beauty is a product that we can offer during all months of the year, it is an all year prod- A Destination For Weather Thursday 21o <ul style="display: flex;"><li style="flex:1">sport among young people </li><li style="flex:1">through lines of action </li></ul>focused on intervention with athletes, the parents of athletes and the social fabric. Health, Beauty & uct ". Wellness Audi In Ibiza The Council of Ibiza has shown full support to the new group -Ibiza Tourism Association, Health, presented today at a ceremony with the president, Vicente Torres, and representatives of the four developers: Fiesta Hotels Resorts, Polyclinic Nuestra Señora del Rosario, Eiviluxury aesthetics clinic and BFIT fitness. It is an association that aims to promote health tourism, the health and beauty of our island and will include all those companies or professionals that in one way or another, can be linked to this branch of tourism. Council President, Vicente Torres believes Ibiza can open the door to business tourism and conventions of major global brands, "It means a lot to Ibiza a prestigious brand like Audi has chosen the island to present their new models. We must use it well for the future because other brands Ibiza can choose to make their conferences, congresses or their presentations," Friday 21º Saturday 22o Sunday 23º This is only one of many specific actions planned during this term, together with the Governments and councils of the Balearic Islands in collaboration with the University of the Balearic Islands and Sports Federations of the Balearic Islands. It was also highlighted the valuable support and participation of the Education offices and Ibiza CEP for physical education teachers to actively participate. Finally, the Council of Ibiza encourages anyone who is involved in sports to participate in this conference, information and registration can be found on the website. <a href="/goto?url=http://www.conselldeivissa.es" target="_blank">www.conselldeivissa.es </a>The Audi dealer’s worldwide convention will be held in Ibiza from next Monday until 1 November. The locations are the Fairgrounds, where the cars will be presented, the Parc de Sa Coma for track driving, and Heart for the evening event. Audi expects an attendance of approximately 2,700 CEOs Audi dealers and importers from around the world, with a maximum of 200 guests per day. Audi will reveal the following vehicles: Audi Q2 Dynamic Experience in versions S Tronic 1.4 TFSI and 2.0 TDI Quattro S Tronic, the R8 Spyder and S5 Coupé Dynamic Experience. The president of this association is David Medina, representative of the Polyclinic of the Rosary, and the Secretary General is Christopher Martos. The event also was attended by José Luis Benitez, representative of Fiesta Hostels & Resorts, Ruth Ripoll of Bfit and Daniel Terrace, Eiviluxury Clinic. The president has congratulated and offered the support of the Council, with the objective to extend the tourist season and avoid the two or three very strong months. The President stressed that Monday 24º Tuesday 24º Wednesday 24o obtaining of a public car park. Cala De Bou’s New School The CIOTUPH- also has already approved the transcript for the Declaration of intangible cultural attractions, the knowledge and the procedures of the traditional dry-stone on the island of Ibiza. The statement is intended to help prevent the disappearance of this traditional procedure that forms part of our cultural heritage and determines, to a large extent, the cultural landscape of the island. CIOTUPH- has also reported that a total of four requests concerning housing construction in protected areas have been declined, in accordance of Decree-Law 1/2016 of urgent urban prohibiting these uses in natural areas of special interest. The Insular Committee of Planning, Urbanism and Historical Heritage (CIOTUPH-) has approved the specific amendment number 4 of the Rules Subsidiaries of Sant Josep de sa Talaia, which will get a plot of 8,100 square metres allocated to the new school Cala de Bou. The suitability of the modification is based on the need to expand public allocations, as it is the new school, in addition to improving the road connectivity between urban roads and the existing roads, as well as infrastructure and the <ul style="display: flex;"><li style="flex:1">The Ibizan, Thursday 20th October 2016, Issue 849 </li><li style="flex:1">links are live in the online edition at theibizan.com </li><li style="flex:1">Page 3 </li></ul>News Now, and way back when. Above left the famous Pacha palmed entrance. Above right the original building. Below left, almost smell the money, the Pacha brand extends far beyond the nightclubs for which it is famous. Pacha Group Sold For 350€ Urgell confirmed that Pacha's finances were transparent and all in order. (Continued from page 1) Talking of his future, he concluded that he has many ongoing projects, including the “We cannot have music everywhere.," he said when possibility of new hotels and a new venture in Cuba. asked his opinion on the island's future. He also explained his distaste for party boats in the effort to preserve the island's natural elements. e have to want more for the island, invest in it, appreciate it and love her, so that we’re not only benefit- “W No interview would be complete without asking about all of the recent inspections of the super clubs, including Pacha. ting ourselves. People need to promote projects to improve ibiza. It’s important that the island does not lose the magic.” Ricardo Urgell been released regarding the level and type of drug abuse cases being treated on the island. Attending was Jordi Puiguriguer, a toxicologist and Balearic president of the Spanish association of accident and emergency medicine (Semes). He was joined by María de los Ángeles Leciñena, head of the Can Misses emergency department and also Pitiuses representative to Semes. Polydrug Use They revealed that more than 60% of those being treated for drug related issues at Can Misses emergency department had tested to show they had taken more than one substance. This polydrug usage was found to be far higher in Ibiza than other areas. Testing is being undertaken as part of a study by Mallorca’s hospital de Son Espases. Ketamine Ibiza also has a far higher level of Ketamine usage. Results from Ibiza found 20% of patients to have consumed Ketamine, compared to just 1% in Mallorca. The most common drug identified was Ecstasy, identified in 90% of the 150 cases analysed. Drug abuse accounts for 3% of all cases dealt with at Ibiza’s Can Misses hospital. Toxicology reports released this week showed the Brit had indeed taken the popular new drug. Ibiza Drugs; "No Worse Than Mallorca or Madrid, But 20 Times More Ketamine" But head of toxicology, Jordi Puiguriguer said that it was an isolated case and rejected the idea that the notorious party island was becoming a hotbed for new experimental drugs. Doctors presenting a report on drug-taking in Ibiza this summer refused to say how many cases had been reported to the police but confirmed the allegations of "chemical submission" had been taken seriously . On the closing weekend of the Ibiza party season, six were treated in hospital. Half were Brits. Flakka has grown in popularity worldwide, particularly in Florida where it is sold cheaply on the streets Chemical Submission Some of those included in the test were patients stating they had been drugged as a result of attempted rape or robbery. This ‘chemical submission’ is considered an increasingly common problem. Both Puiguriguer and Leciñena stressed that though Ibiza’s drug abuse treatments were different in nature, overall the level of cases is not considerably greater than areas such as Mallorca, Barcelona, Bilbao and Madrid ꢀCan Misses deals with 6 cases of drug abuse per day. ꢀ60% of cases have tested for multiple drugs ꢀ20% of cases in Ibiza test positive for Ketamine In a presentation by two of the Balearics most senior emergency services and toxicology staff, detailed information has ꢁIn The UK Press ꢂIn an unsurprising move the UK press overlooked the majority of the presentation by Puiguriguer and Leciñena, choosing to cover only one item; that of the confirmed use of so called designer drug ‘Flakka’ . This report by the Daily Star Naked Ibiza Brit in 'violent' rampage had taken terrifying new designer drug ꢀA British tourist found naked and “extremely violent” in a popular tourist resort in Ibiza was high on a danger- ous new designer drug, according to doctors. The Brit – who has not been identified – was pictured lying on the ground handcuffed in shocking scenes in the popular resort of San Antonio in September. He was arrested by police because of alleged aggressive behaviour and “violent attitude to people who crossed his path”. He was restrained in the area between Piscis Park hotel and a nearby bus station, and later taken to hospital in an ambulance. Police suspected he had taken legal high Flakka, which causes intense anger, panic attacks and paranoia. It’s a variant of the infamous synthetic substance "bath salts, and has been dubbed the “insanity drug” due to its effect on users. Users have had sex with trees and even believed they were the mythical god Thor in bizarre hallucinations. At its worst, it has been linked to several terrifying "zombie" crimes in which those under the influence have killed in a fit of rage. <ul style="display: flex;"><li style="flex:1">The Ibizan, Thursday 20th October 2016, Issue 849 </li><li style="flex:1">links are live in the online edition at theibizan.com </li><li style="flex:1">Page 4 </li></ul>Property News Second-Home Market gets a Spring Clean <ul style="display: flex;"><li style="flex:1">ꢀThe Second-Home </li><li style="flex:1">&</li><li style="flex:1">Resort Industry Observatory </li></ul>(SHARIO) has signed a collaboration agreement with the Spanish Land and Business Registrars Association aimed at improving the transparency of a market that sustains an important industry for Spain. Under the agreement, the Registrars Association will provide the Observatory with quarterly figures on home sales to foreign buyers for expert analysis in market reports for the second-home & resort industry in Spain. A better understanding of foreign demand for property in Spain will help an industry that, despite its size and strategic importance to Spain, has never been organised or well understood. Fancy Your Very Own Foreign buyers invest billions of euro in Spanish property Balearic Island? Five Million & It’s Yours ties, in order to ensure that only completely valid documents can be registered. The purpose of the Land Registry is to provide legal security to legal transactions concerning property rights and publicity concerning ownership and charges of the property registered. oreign demand for property in Spain reached a record of 13.18% of the Spanish housing It is not often Island’s come up for sale, but if you have a spare 5,250,000 euros hanging around this could be just the job. It goes under the name of Colom Islet, has an area of 58 hectares of land, and is situated just 200 metres north off the coast of Menorca. In actual fact, the islet belongs to the municipality of Mahon, the capital of Menorca, and forms part of the natural park of s’Albufera des Grau. It is actually the largest of a small batch of islands that surround the larger island. The islet possesses just a handful of buildings that include a 100 square metre main residence dating back to the 18thcentury. This has six bedrooms and a 30 square metre annexe that serves as a storehouse. There’s also a wooden cabin that can also be lived in as it contains two bedrooms, a kitchen, living room and bathroom. With regards to outside space there are two white sandy beaches, a boathouse to house vessels of up to 20 square metres, plus remains of the old miners’ house. And if you haven’t got five million no problem, thanks to our ‘what’s your best offer’ article left, you should be able to shave a cool million off the price. No need to thank us, just send cash ☺ “F market in 2015, with close to 46,000 sales” each year, supporting an industry that provides hundreds of thousands of jobs, and has a big impact of Spain's image abroad. According to a recent study by the Provia developers’ association in Alicante province, the industry supports 200,000 jobs in the Valencian region alone. What’s Your Best Offer? ꢀDon’t know where to pitch your offer? Leading Spanish Property Portal Idealista have published statistics on the amount offered for property compared to its listed price. Foreign demand for property in Spain reached a record of 13.18% of the Spanish housing market in 2015, with close to 46,000 sales, according to data from the Registrars. Growing foreign demand between 2010 and 2014 helped to mitigate the Spanish real estate crisis, and foreign buyers have played a key role in Spain’s recent housing market recovery. “An industry so big and important to Spain needs better market information to avoid repeating the mistakes of the past, like overestimating demand and building too much,” says Mark Stücklin, Director of SHARIO. “Good market analysis helps reduce risks, improve investment decisions, and increase the confidence of buyers and investors in Spain.” For more information contact Mark Stücklin Despite the fact that the property market is in a much more positive state at the moment, and the number of sales are going up, as are property prices in many areas, the reality of it is that prospective buyers are still asking sellers for substantial discounts on the sale price of their homes. In many cases, these discounts are as much as 20% or even more depending on the autonomous region that the property is situated. Statistics have revealed that on average in the month of July, prospective buyers were offering approximately 20.9% off the purchase price fixed by the property owner. This figure is slightly less than the average discount wanted last year, when buyers were offering 21.6% less. Autonomous regions The biggest difference between the amount of money offered for a property and the price being asked for by the seller is found in the region of La Rioja. Here, those wanting to purchase a home are offering around 23.6% less than the sale price of the property. La Rioja is followed by Cantabria (- 23.5%), Murcia (-22.7%) and the Valencia Region (-22.6%). Madrid, on the other hand, is the region in which the amount of money being offered and asked for is closest, with approx- <a href="mailto:[email protected]" target="_blank">[email protected] </a>Country, at 19.7%. About the Second-Home And Resort Industry Observatory (SHARIO) Madrid is also the region where buyers have most reduced the amount of discount asked for off the sale price. This could be an indication of the fact that property prices are rising and the offer of property available is reduced. This is followed by Andalucía and Castilla-La Mancha. However, there are seven autonomous regions where prospective buyers are offering even less money (bigger discounts) than they were a year ago. The list is headed by Cantabria and followed by Asturias, Galicia, and the Balearic Islands. ꢀLaunched in the Spring of 2016 with sponsorship from industry leaders, SHARIO is a think-tank and information hub for the Spanish second-home & resort industry committed to raising professional standards and transparency in the business. SHARIO is sponsored by Iberdrola Inmobiliaria, Acciona Real Estate, Neinor Homes, Tinsa, KPMG & La Zagaleta. Large cities There is also a big difference in figures offered and asked for in Spain’s largest cities. In Cuenca, for example, buyers are only asking for a discount of 10.9%, while in the cases of Palma de Mallorca, Alicante and Jaén, the figure is more than 25%. About the Land and Business Regis- trars Association of Spain n average, prospective buyers are offering approximately 21% under the listed purchase price” ꢀThe Spanish Registrars Association is a Public Law Corporation. All the Land and Business Registrars in Spain are members of it. These registrars are civil servants, attached to the Ministry of Justice, and legal professionals responsible for monitoring the legality of documents authorized by notaries or issued by judges and administrative authori- “O Information supplied with kind assistance of On The Pulse Of Spain—a great resource for legal and property matters. <a href="/goto?url=http://www.onthepulse.es/" target="_blank">http://www.onthepulse.es/ </a>imately 16.5% lower than the asking price being offered by purchasers. Madrid is followed by Navarra and the Basque <ul style="display: flex;"><li style="flex:1">The Ibizan, Thursday 20th October 2016, Issue 849 </li><li style="flex:1">links are live in the online edition at theibizan.com </li><li style="flex:1">Page 5 </li></ul>Buying Property in Ibiza Buying property is serious business ... Buying property abroad comes with the additional challenges of an unfamiliar legal system and language barriers. Buying property in Ibiza is more challenging still. Demand and values are unique to the Island and the market will not necessarily reflect general economic trends affecting Spain nationally. sented is extremely important. I try to keep my client’s applications as simple as possible so that I ensure a quick approval from the lender. The Spanish banks offer fixed rate mortgages and variable rate mortgages and the client has to decide with my help which is the best option for him. There are no interest only options available now, but as the interest rates are actually very low and the euribor about one year is in negative, the monthly payment is tolerable. not see the client until signing the mortgage because during the whole process we are in contact by email and over the phone. I normally spend about 2-3 hours speaking with the lenders and making public relations contacts with real estate agents which is very important for my job. For the other 4 to 5 hours working on emails and processing information received from clients. My work consists in finding out the personal situation of my clients first, then helping the banks to understand the application from my clients and after that finding out the best option for my clients as I know where best to place a client for the best result. ꢀWill Brexit affect mortgages in Spain? Spanish Banks for many years have granted mortgages in Spain to most nationalities so tech- A very serious business indeed, and one where the clever money will see the benefit of puꢀing your financial interests in the hands of a specialist. nically UK residents should not be enerally speaking, the client needs a minimum deposit of 30-40% of the purchase price. “GThey will also need further funds to cover the taxes and expenses involved in the purchase – an extra 12- 14% will usually cover the additional costs.” affected by the leave vote. As the biggest buyers of second homes in Spain it is difficult to imagine a situation where Brits are barred from owning one or being able to apply for a mortgage in Spain. The non-resident Spanish mortgage market currently is such that, only countries on the Bank of Spain watch list , which includes those

Ibizan 849.Pub

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