Located just 100 metres from the sandy beach and the popular promenade of Playa de Palma, this versatile building comes with a recently granted building permit for a complete redevelopment project.
The property is situated in El Arenal, directly at Balneario 3, one of the most sought-after areas of Playa de Palma. Restaurants, supermarkets, pharmacies and a wide range of services are all within walking distance.
Built in 1963, the building benefits from a solid structure and has successfully passed the Technical Building Inspection (ITE). In addition, the required building permits for the redevelopment project have recently been granted, allowing immediate implementation.
AREAS AND LAYOUT:
Plot size: 437 m²
Total built area: 1,725 m²
Distributed over 5 levels:
Basement: currently commercial storage space with various development possibilities
Ground floor: commercial premises
First and second floors: areas designated for residential conversion
Top floor: additional development potential with sea views
Freight elevator and central staircase
Several balconies and sea views from the upper floor
DEVELOPMENT OPTIONS:
Option 1:
Approved project for the construction of 31 micro-apartments intended exclusively for long-term rentals.
Option 2:
Development of 9 standard residential units with the possibility of establishing horizontal property division. In this scenario, the commercial unit on the ground floor would remain separate.
INVESTMENT POTENTIAL:
Project ready for immediate implementation thanks to the granted building permit
Residential development in a highly sought-after location close to the sea
Flexibility to choose between 31 micro-apartments or 9 conventional residential units
Attractive combination of residential and commercial use
HIGHLIGHTS:
Only 100 metres from the beach
Excellent connections to Palma city centre and the airport
Building permit already granted
Sea views from the upper floor
Rare development opportunity close to the coastline
Possibility of horizontal division when developing the 9 residential units
CONCLUSION:
An outstanding opportunity for investors and developers seeking a project with significant potential in Mallorca. The granted building permit, prime location near the beach and flexibility between two development concepts make this property a unique investment opportunity.
Plaza de la Porta de Santa
Catalina 20,
07012 Palma de Mallorca
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The information given here has been published with great care. However, S.A.E Real Estate Mallorca cannot guarantee the correctness of the information and therefore does not guarantee the completeness, accuracy and timeliness of the same. Price changes or unannounced withdrawal of offers cannot be ruled out.
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