THe old Gordiola factory. | MDB

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Until 1969 the Gordiola glass factory, now in Algaida, was located in the Dalt Murada section of Palma's old walls. Closed ever since the move, there is a mosaic that recalls the industrial past.

Some ten years ago, the company announced its intention to reopen the old factory. Nothing came of this, and the factory was once more forgotten until an advert appeared on a property website. It was available for 8.5 million euros and a project for its restoration had already been drafted - on two floors with spacious bedrooms, kitchen, living and dining rooms; a swimming pool; a spa; a gym; a garage; plus 300 square metres of outdoor space.

It was clearly an attractive proposition - to someone with a spare 8.5 million, that is. And so enter into the story two German businesspeople, one anonymous, the other the grandson of the founder of Porsche.

Hans-Peter Porsche maintained that he had a verbal contract to purchase the property. So when the owners of Gordiola, the five Aldeguer brothers, formalised a written contract of sale with the other interested party and received a deposit, Porsche legal representatives sought to block the sale.

A court was asked to stop the sale and to enforce the apparent verbal contract. Porsche put up a bond of one million euros in the court to support this and made a counteroffer to the owners, which would have meant a higher price for the old factory.

The court turned down the request; there was no evidence as to a verbal contract. The sale to the anonymous German businessman was finally confirmed at a notary's office last Monday.

The Porsche family does have ties with Mallorca. Hans-Peter founded the Alcanada golf course in 2003. Wolfgang Porsche acquired a luxury estate on the island around a year ago.