Commercial For Sale In Palma De Mallorca, Baleariska öar

Hostal For Sale in El Terreno Palma de Mallorca. The emblematic Hostal Corona El Terreno Mallorca. Designed by the famous Mallorcan architect Gaspar Bennàssar i Moner in 1930 as a private home, i 1987 the building was converted into a hostel and restaurant. During the 19th and 20th century’s El Terreno was the summer residence of the wealthy communities of Palma de Mallorca who built summer villas and houses of colonial architecture with large gardens, with views of the city of Palma and the sea from the upper floors. From the 1950s to the 1970s El Terreno was the summer playground of the international jet set, Errol Flynn’s yacht was moored on the Paseo Mallorca and the original 1950s brat pack of Frank Sinatra, Jerry Lee Lewis, and Dean Martin, became regular visitors to the district’s new bar’s cafes and nightclubs of the Paseo Mallorca and El Terreno as Spain opened its self to tourism.

Since 2021 the Gomila Project by the architectural studios of MVRDV (Nl) and GRAS (Es) have been revitalising El Terreno with avant garde architecture and the whole district including Palma’s waterfront and marinas are returning to its previous prestigious reputation with one of the largest transformations of any district of Palma de Mallorca in the past 50 år.

The property situated on a plot of 531m2 with a constructed area of 484m2 has 14 rooms and 22 tourism places a commercial kitchen and bar and restaurant on the ground floor in the garden patio. Over the three floors there are terraces which offer sea views and lounges which offer spaces for relaxation. The service license is in place and the hostel and restaurant can be reopened at any time. Adjacent to the hostel is a 272m2 urban plot which is used as parking for ten cars for guests of the hostel. This offers the buyer the option of to create another building with underground parking and a swimming pool. The property can be transformed from a hostel to boutique hotel, or a beautiful private home, or apartments with exclusive community facilities. Please contact us for more details, about this unique property in one of Palma de Mallorca’s most sort after areas.