Investment project in the heart of Palma
Old Town, Palma
With a unique location in the heart of Palma’s historic Old Town, just behind Plaza Mayor on a charming little square, this historic property offers exceptional development potential. Here you are surrounded by the atmospheric streets of the Old Town, with restaurants, cafés and shops all just around the corner.
The building comprises approximately 768 m² distributed over four floors and has a rich history dating back to the beginning of the 20th century. Originally used as an inn and guesthouse, the property later became part of the early development of tourism in Palma. The hotel opened its doors in 1928 and was among the pioneers of the city’s hotel industry.
Many traces of the building’s history remain preserved today. Among its architectural features are old arches in the side façade, linked to the medieval oil market that once occupied this location. These historic elements give the property a level of character and authenticity that is increasingly rare to find.
The building is currently in need of extensive renovation, but at the same time offers a rare opportunity to create something truly extraordinary in the very centre of Palma. With respect for the original architecture and the history of the property, there is potential to develop an impressive private residence or a residential project comprising several units. The property does not currently hold a hotel licence.
The golden age of this historic building may lie in the past, but perhaps its most exciting chapter is still waiting to be written. This is an opportunity to restore a fascinating historic property to its former splendour while creating something entirely new for the future.
Asking price: €3,300,000. The seller is open to discussing the price in the event of serious interest.
Does this sound like an exciting project? Contact Bjurfors for further information, a viewing and a more detailed discussion about the property and its possibilities.
The Old Town of Palma is an iconic district filled with charming squares, narrow cobblestone streets, and historic buildings, blended with wide avenues, bustling shopping streets, and an abundance of restaurants and cafés. Here, you can easily spend hours strolling through its enchanting streets.
From the heart of Palma’s city center, everything the city has to offer is within walking distance. It is the perfect balance of convenience and charm, offering both quality of life and relaxation. The area has a romantic atmosphere, with boutique shops selling designer interiors, antiques, and contemporary art galleries.
One of the highlights of the Old Town is Parc de la Mar, the park in front of the cathedral. This is a wonderful place to wander, especially in the evening when the ancient city walls are beautifully illuminated. During the summer, the park hosts open-air cinema screenings, markets, and concerts.
Bjurfors Real Estate in Mallorca are local experts on the property market and can assist you with buying or selling a home in Palma Old Town. Contact us today!
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