Private equity buyers are expected to place their bids for La Manga, the up-market Spanish resort favoured by the England football team, which has been put up for sale by P&O, the ferry group.

P&O has appointed Cushman, Wakefield, Healey and Baker, the property consultants, to handle the sale and is expecting offers in excess of £100m (€149m). Cushman and Wakefield will launch a formal marketing campaign in September.