INVESTMENT! Building in Palma with lots of history & potential

This historic old town palace dating back to 1889 in the heart of Palma offers a unique and extremely lucrative investment opportunity. With its incomparable location and the charm of times gone by, this building is a real gem just waiting to be brought back to life.

The building extends over three floors plus a roof terrace with breathtaking views. Many original, historic details, such as the magnificent wooden frames on the windows and doors, the ornate hydraulic tiles, the impressive staircase, the antique fireplaces and the stylish ceiling beams, give the property an unmistakable character.

The second floor also offers excellent opportunities to rent out around 270 m² of space as commercial premises - an attractive source of income for the investor. Planning permission has been in place since 2019. After renovation, 5 or 6 apartments can be created and sold separately - an excellent opportunity to further increase the value of the property and benefit from a high yield.

The estimated refurbishment costs of EUR 3,500,000 (this is an approximate estimate and not a fixed amount) open up enormous potential to significantly increase the value of this property. The expected duration of the refurbishment of only 1.5 years means that this exclusive opportunity can be realized in a timely manner. In this prime location and with the historic charm of the building, the potential for a high return is exceptional - a true investment with enormous value appreciation!