The Apprentice star – who is now worth more than £1 billion, according to the Sunday Times rich list – is set to double his money, 16 years after buying the 1,604m2 beachside plot for around €5 million.
A bid of €11 million has been accepted on the amazing six-bedroom home, it can be revealed, with the deal ‘being completed in the next few weeks’.
It means the the east-end entrepreneur will bag a tidy profit of around €5 million.
Marketed through agency Luxury Villa Sales – which set up a unique website for the property – Sugar spent €1 million on the construction of the home in 2000.
A source close to the deal confirmed: “The deal is going well, it is now just a matter of completing the paperwork.
“Alan will most likely downsize to a penthouse, maybe in Spain, maybe in Florida.”
While the buyer so far remains a mystery, he is understood to be German, having bought through a tie up deal with company Engel & Volkers.
The three-story villa, which went on the market earlier this year valued at €12 million, includes a 200m2 underground car park, pool and gymnasium.
There is also access to the beach and one of Marbella’s top tennis clubs.
Lord Sugar sits 101st in the Sunday Times list of wealthiest Brits, announced last month.