4.500.000 € Splendid Hostel in El Terreno, Palma de Mallorca

Splendid Hostel in El Terreno, Palma de Mallorca

Immerse yourself in the elegance and charm of this iconic hostel, an architectural gem designed by Mallorcan architect Gaspar Bennàssar in 1930. With a rich history and unmistakable style, this property was renovated in 1987, transforming into a cozy hostel and restaurant that has witnessed countless celebrations and cultural events.

Highlighted Features:

Charming Large Patio: Upon entering, you will be greeted by a spacious patio filled with charming corners, ideal for hosting parties and cultural activities that create a magical atmosphere.

Accommodation and Services:

Rooms: 14 cozy rooms that invite rest.
Bathrooms: 5 well-equipped bathrooms.
Professional Kitchen: Perfect for meeting the needs of the restaurant.
Restaurant and Bar: Located in the picturesque patio with a garden, offering a relaxed atmosphere for guests.
Terraces: Two partially covered terraces with sea views.
Design and Layout: The hostel is distributed over three floors that radiate natural light and feature high ceilings. Several terraces offer sea views, while the chill-out areas, dining rooms, and lounges provide spaces for leisure and relaxation.

Condition and Potential: Although currently closed, the property has a service license, allowing the reopening of the hostel or restaurant at any time. Additionally, it has exterior buildings that can be renovated for various activities or events, and there is even the possibility of adding a pool.

Style and Opportunities: The building is listed and currently has one star, but it could be converted into an exquisite boutique hotel, characterized by its unique architecture and a modern, elegant, and refined design.

Investment and Development: El Terreno is one of the most dynamic neighborhoods in Palma, with a high level of real estate investment. In recent years, investors have acquired and revitalized closed and abandoned buildings, promoting new luxury homes and businesses.

Surface and Additional Space:

Built Area: Approximately 450 m².
Parking: Space for 10 cars, with the possibility of expansion.
This property offers an incomparable investment opportunity in a very special and distinctive neighborhood, with enormous potential to become an exclusive and attractive destination. Don't miss this unique opportunity to acquire a property with so much history and potential. We are at your disposal for any inquiries or visits!