$5,040,323

This historic building in the Old Town of Palma represents an exceptional opportunity to develop a unique residence through a comprehensive renovation project with a current license. Built in 1887 and officially protected with the heritage classification Grade A*, the highest level of protection in Palma, the property is located on a corner plot with facades on two streets and offers approximately 580 m² distributed over three floors, a basement, and a rooftop terrace. The main structure is preserved, allowing for swifter progress in the execution of the project and providing freedom to define the final finishes according to the future owner's preferences. The planned design combines traditional Mallorcan architecture with contemporary elements, including high ceilings, original wooden beams, and restored historical details. The property incorporates an elevator, a wellness area in the basement with original vaults, space for an indoor pool, jacuzzi, sauna, gym, and relaxation area. The ground floor features an impressive eight-meter-high lobby, while the upper floors offer spacious living areas, kitchen, bedrooms, library, and an independent guest apartment with access to a rooftop terrace with panoramic views. Located in the heart of the Old Town of Palma, this property is surrounded by centuries-old streets, iconic buildings, art galleries, restaurants, shops, and all the services of the capital of Mallorca. The area is noted for its architectural charm, proximity to the cathedral, its cultural atmosphere, and its great appeal as a residential destination and real estate investment in Mallorca.