Crossword Genius

Bank holiday, Spain -- the plane's heaving; it's difficult to move (5,8)

Ross

I believe the answer is:

white elephant

I'm a little stuck... Click here to teach me more about this clue!

'bank holiday spain' is the definition.
The definition and answer can be both related to property as well as being singular nouns.
Perhaps you can see an association between them that I don't see?

'the plane's heaving it's difficult to move' is the wordplay.
I cannot quite understand how this works, but
'it's' could be 'it' (I've seen this in other clues) and 'it' is found in the answer.
'move' could be 'wheel' (wheeling is a kind of moving) and 'wheel' is found in the leftover letters.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for white elephant that I've seen before include "Troublesome or useless possession" , "It gives more trouble than it's worth" , "waste of space" , "Expensive burden" , "Useless, unwanted possession" .)

I've seen this clue in The Telegraph.
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