A Majorcan company related to the construction sector has bought the Can Olez aristocratic home, situated in the Calle Morey in Palma, for 19.5 million euros.

The company intends to refurbish it and restore it to its former splendour, with the aim of making it the headquarters of both their company and their foundation.

This is not the first and only aristocratic home which has been bought in the last few months in the old part of Palma, although in this case the building will not be converted to another use. The refurbishment, according to experts, will require an investment of nine million euros.

The new owners have in mind various projects for the use of the rest of the building, and they do not rule out that it may be converted into a museum of the 16th, 17th and 18th centuries. The current owners may continue to live in the building until they die, the new owners have decided.

This aristocratic home is gothic in origin, and has one of the most beautiful patios in this area of Palma. The patio was constructed at the end of the 17th century and brings together elements such as: extraordinarily low arches which lighten the structure; a porch which allows access from the part of the house in daily use to the more formal rooms; elegant columns; the wrought iron balustrade; and a wonderful view.