Giuseppe Cipriani the owner of Booom nightclub, has beaten the powerful Matutes Group to acquire a prime piece of real estate in Ibiza town. The Ministry Of Defence owned land was originally on the market for €15 million but Cipriani snapped it up at auction for a cool €8.1 million, beating a number of powerful businessmen in the process. Located just 300m from the famous Pacha nightclub and next door to the 5 star Ibiza Gran Hotel, the 5137 m2 plot is currently used as a car park. Its development potential was described at auction as "hospitality, retail, leisure and recreational" and the plot is just above the 5000 m2 minimum required by law to build on as a hotel. While Mr Cipriani has not stated what he intends to do with the property, speculation on the island suggests the Italian restaurateur may build a new super club on the site, as his lease at Booom is set to expire shortly.
The location of the €8.1 million site.
At present, the local municipality prevents the operating of any new nightclubs in the area, so a change of law would be required at local government level to allow for a new club to be built. On May 31st last, an emergency motion to allow Booom to open was passed by the local council. They viewed the disputed licence as the re-activation of an old one, so Mr Cipriani will hope that his midas touch and good luck with licencing issues will continue if he decides to open a new club on the site. The power play by Mr Cipriani puts him right back in the game and a sign that he intends to remain a big player in Ibiza. The 48 year old Italian has certainly rocked the boat since his arrival with the stylish Downtown restaurant concept in the summer of 2012 and the trumping of the Matutes group (a rare occurrence in Ibiza) will raise a lot of eyebrows in the upper echelons of Ibicenco society. The blog will be keeping a close eye on this story as it is sure to become a colourful and eventful saga on an island that never fails to disappoint.