Just 100 metres from the fine sandy beach and the popular promenade of Playa de Palma is this versatile building with a project submitted for conversion into up to 31 micro-apartments.
The property is located in El Arenal, right on Balneario 3 - one of the most sought-after areas of the Playa. The surrounding area is urban and touristy: restaurants, supermarkets, pharmacies and numerous service providers are located in the immediate vicinity.
The building, which dates back to 1963, has a solid structure and has successfully passed the technical building inspection (ITE). An application has been submitted to the municipality of Palma to convert the building into residential space and planning permission is expected towards the end of the year.
AREAS AND STRUCTURE:
Plot area: 437 m²
Total construction area: 1,725 m²
Distribution over 5 levels:
Basement: currently commercial basement - option for underground car park
Ground floor: commercial unit
& 2nd floor: currently storage rooms - intended for residential units
Top floor: currently storage - conversion to residential unit possible
Goods lift and central staircase
Several balconies and sea views from the top floor
UTILISATION POTENTIAL:
Submitted project for up to 31 micro-apartment units
Combination of residential and commercial space
Central location in a sought-after area with high demand for living space
Versatile property with development potential
SPECIAL FEATURES:
Only 100 metres from the beach
Good connections to Palma city centre and airport
Rare opportunity for residential development near the sea
Sea view from the top floor
Project already submitted to the city of Palma
CONCLUSIONS:
An attractive project for investors and project developers looking for a property with development potential in a top location. The proximity to the beach, the versatile usability and the ongoing authorisation process offer a solid basis for a future-oriented residential project with urban flair.
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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