Last updated: 12:30 PM ET, Tue July 21 2015

For Just $10K, You Could Have Owned This Airport

Airlines & Airports | Donald Wood | July 21, 2015

For Just $10K, You Could Have Owned This Airport

Ciudad Real Central Airport has sat abandoned since 2012, but a group of British and Asian investors have purchased the property for £7,000, or around $10,880.

Originally, the airport cost hundreds of millions of Euros to build. What a deal!

Guy Hedgecoe of The Telegraph is reporting that the company who made the highest bid—and the only bid—in the auction was Tzaneen International. Included in the price are the airport’s landing strip, hangars, the control tower and other buildings, but the terminal and parking facilities were not part of the sale.

Tzaneen International released a statement that claims the company plans on spending millions of Euros (between €60 and €100 million) on the airport in order to return the facility to working condition for passengers and for freight.

The Tzaneen International group of investors says several Chinese companies are already interested in using Ciudad Real as one of the primary hubs for transporting people and goods between Europe and China.

Oddly enough, this fixer-upper isn't actually all that old. When the airport shut down in 2012, it had only been operating for four years. Ciudad Real Central Airport is held up as an example by those who accuse the Spanish government of overspending during the nation’s economic boom.

When the international markets began to dry up in 2008, the country entered a recession and the airport saw traffic steadily decrease until all carriers pulled out of the airport. The final carriers pulled out in 2011 and the airport was closed in 2012.

The facility was originally to be auctioned off for €80 million, but there were no companies interested at that price.

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