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Millionaire life for £25 - 21 August 2008

Imagine being able to take ownership of a million-pound property on the Spanish Costas, along with a successful business alongside – all for the paltry sum of £25. Unbelievable as it sounds, that is the deal being offered by a British expat former boxer who is selling up and heading for the US.

But before you start to rush for the wallet and reach for the phone, the deal is not quite as simple as it sounds. While the eight-bedroom villa and the adjoining Wild West Ranch tourist attraction will be given to someone who has paid just £25, they will be one of 200,000 punters hoping to be given the keys to the property. Owner Wayne Connell is selling 200,000 prize draw tickets at £25 each for the property.

This means that he should be able to raise enough money from the ticket sales to cover the costs of the £1 million villa and the tourist business next door valued at £4 million. The self-made millionaire is selling up in order to move to the US with his family in order to be closer to their two eldest sons, who both live there. Mr. Connell has spent over eight years building up the business, and is selling it as a going concern, though he says he’d be happy for the competition winner to sell the tourist attraction on if they don’t want to run it.

The advantages for the Connells is that it gets them away from the hassles of the property market and trying to sell a top-end property in market conditions that are far from ideal. In addition, there will be no waiting around for the next owner to arrange finance or even to sell their own home.

The villa itself is located some five miles from Benidorm on the Costa Blanca, and comes with a private pool and its own gym. Connell is also throwing his £35,000 Harley Davidson into the bargain. Ownership might not be exactly the breeze the winner will be hoping for though, with a property of that size there will be considerable property taxes to consider, as well as the cost of maintaining, heating and cleaning the villa. In addition, the Wild West ranch has public liability insurance, staff wages and maintenance to be considered.

To make sure you have the chance to win this prize for the tiny sum of £25, the online draw ends on 5th January next year.

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