Old bakery building in Palma Mallorca acquired by foreign investors

Building for apartment conversion in Palma, Mallorca

The price is put at between three and four million euros. | Miquel À. Cañellas

Majorca Daily Bulletin reporterPalma20/01/2022 13:56

Foreign investors have acquired a building on the corner of Palma's Plaça Columnes, into which the C. Nuredduna runs. The sale price isn't known for sure, but Harley James of real-estate company Building Palma Investments says that it will have been between three and four million euros. He adds that it will be for apartments and that it could take up to two years for redevelopment work to start. The request for a building licence has been lodged with the town hall.

The identities and nationalities of the investors are not known, James noting that there are several.

The building in question once housed the Columnes bakery. It was put up for sale in 2016. Àngels Fermoselle, the president of the Arca heritage association, says that it is a building with traditional architecture. The association asked for it to be listed a few years ago. Under the town hall's new urban plan, there will be protection for the front of the building and other aspects.