Local media has reported that the loss-making Terra Mitica theme park at Benidorm, Spain, is up for sale.

The park's main shareholders - Caja Mediterrándeo CAM, Bancaja and Sociedad Proyectos Temáticos - are looking to either sell the site outright or to offer a lease with an option to buy during a period of up to 10 years.

David Lladro, chair of Terra Mitica, said three potential buyers had been identified. Although he declined to name them they are believed to be Mundomar Aqualandia Benidorm, Parques Reunidos and the Aspro group.

Despite a recent upturn in business, losses after tax at Terra Mitica last year were still €164m (£136m), while creditors are reported to be owned in the region of €60m (£50m). Leisure sector commentators believe that a 'reasonable' price for the park would be around €50-60m (£41-50m).

The park, which opened in 2000 and comprises five themed zones - Egypt, Greece, Rome, Iberia and the Mediterranean islands - plus the Ocionia and Atalaya areas, is one of Spain's biggest.