S´Espalmador Island Sold To Private Bidder For €18 million

The tiny island of S´Espalmador which lies between Ibiza and Formentera has been sold to a private bidder in Luxembourg for €18 million.    There are two houses, a chapel and a watchtower on the island which is roughly 3 kilometres long by 800 metres wide.  It´s also a protected nature reserve and subject to very strict laws.    The previous owners, Norman and Rosy Cinnamond inherited S´Espalmador from their grandfather, Bernard Cinnamond, who bought it from the Ibizan Carlos Tur in 1932 for 42,500 pesetas – the equivalent of €255.