An exceptional investment opportunity in one of Mallorca's most exclusive and tightly held locations.
Hidden within the charming streets surrounding Plaza de Cort lies one of the last opportunities to acquire an entire historic building awaiting restoration in Palma's Old Town. Buildings of this nature rarely become available. Opportunities such as this - offering complete freehold ownership, private outdoor space and significant potential for value creation - are becoming increasingly scarce.
Positioned just moments from Plaza de Cort and Santa Eulàlia, the property enjoys one of the most desirable locations in the historic centre, surrounded by elegant townhouses, boutique hotels, independent galleries, renowned restaurants and centuries of architectural heritage. Here, everyday life unfolds among narrow cobbled streets, quiet squares and beautifully preserved façades, creating an atmosphere that has attracted discerning international buyers for decades.
This is not simply an acquisition of real estate.
It is the opportunity to become the next custodian of a remarkable piece of Palma´s history.
For generations, the property has remained within the same family, preserving both its authenticity and its character.
Historically, the building housed a traditional textile workshop, reflecting the artisan heritage that once defined this quarter of Palma. While many neighbouring buildings have already been carefully restored into exclusive residences, this property remains one of the very last on the street still awaiting its next chapter.
The property offers approximately 305 m² of built area distributed over several levels, comprising a commercial premises at street level together with residential accommodation above.
Throughout the building, many original architectural features remain intact. Traditional timber beams, elegant balconies, generous ceiling heights and large windows provide excellent natural light while preserving the authentic character that makes historic properties in Palma so desirable.
Several original structural elements remain hidden behind later alterations, presenting exciting possibilities to reveal the building's original proportions during a thoughtful restoration. Ceiling heights reaching approximately 4.60 metres within the commercial premises and 3.40 metres on the principal residential floors create exceptional opportunities for architectural enhancement.
One of the property's most exceptional attributes is its two private terraces, offering approximately 48 m² of outdoor space.. Within Palma's historic centre, private terraces of this scale are extraordinarily uncommon.
From here, the views stretch across the rooftops of the Old Town towards Santa Eulàlia, the surrounding church towers and the hills beyond the city. It is a perspective few properties can offer - a peaceful retreat above one of the Mediterranean's most vibrant historic centres. Whether enjoyed privately or incorporated into an ambitious restoration project, these terraces represent one of the property's most valuable long-term assets.
The property is offered with comprehensive technical documentation already in place, including: Approved ITE (Technical Building Inspection). Topographic and georeferenced survey. Verified floor plans and surface measurements. Updated cadastral documentation. Valid Certificate of Habitability (Cédula de habitabilidad). Energy Certificate (Rating D).
The market for complete buildings within Palma's historic centre has become increasingly limited.
Many have already been restored. Others remain within families who have owned them for generations and seldom sell. This property represents one of the few remaining opportunities to acquire an entire historic building in this prestigious neighbourhood while still having the freedom to shape its future.
For investors seeking long-term capital appreciation, developers looking for an exceptional restoration project, or private buyers wishing to create a singular residence in the heart of Palma, opportunities such as this are exceptionally rare.
This is more than a building.
It is a piece of Palma's history, ready for its next chapter.
