A new crowdfunding initiative is paving the way for party-loving investors to buy a stake in their very own Ibiza nightclub designed by artist Lluís Güell.

The club, called Alter Ibiza, is set to open this July this year on the beach resort of San Josep. Replacing a former club, the new venue will transform the building’s existing basement into “a spectacular large space filled with split columns, marble staircases with angels and sculptures adorning the walls and ceilings.”

Güell has previously created popular Ibiza destinations Café del Mar & Es Paradís. San Josep currently has no other nightclubs and has 10,000 tourist beds.

The founders of the Alter Ibiza project, Sara and Steven Altman, have turned to funding platform Seedrs to raise £110,000 (US$160,000, €139,000) for the project and have released 18.03 per cent equity. At the time of writing, the campaign has already raised £30,000 (US$44,000, €38,000).

The Altmans have pledged to bring “hot nights, starry names and some of the coolest DJs in the business” to Alter Ibiza when it opens.

Explaining their vision for the club, they said: “Pulling away from the extreme commercialisation and over-pricing across Ibiza's clubland, Alter Ibiza are set to shift the island's focus back on true value for money for a more mature, sophisticated audience.”

The club will have an over-25s door policy, with teams of promoters specifically selected to tailor to the “musically educated.”

Ekaterina Steube, campaigns success manager at Seedrs, said: “We are delighted that Alter Ibiza is raising on Seedrs. To our knowledge, this is the first time a nightclub has ever launched an equity crowdfunding campaign, so it is a really unique opportunity for our investor base and anyone in the UK who is passionate about the White Isle.”

Over 2.5m people visited Ibiza and the neighbouring island Formentera in 2015, according to regional government figures.