The offices are due to be converted into a museum of contemporary art. | Jaume Morey

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The college of technical architects in Mallorca estimates that the rehabilitation of Palma's GESA building could be at least 47 million euros. The most conservative estimate is 31 million, but as the college points out, it doesn't know what condition the interior is in or whether there needs to be reinforcement. It adds that the "corrosive effect" of the sea will have to be taken into account.

Palma town hall has said that it is close to finalising an agreement to purchase the building from Endesa for 25 million euros, ten million of which - it hopes - will come from EU Next Generation funds. The intention is to use the building as a museum of contemporary art. It will also house a library, an archive and at least a couple of restaurants.

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Mayor Jaime Martínez says that it will be a sustainable building that will retain the characteristic copper-coloured windows; the windows will "capture solar energy". The college explains that for a sustainable building, the entire glass framework will have to be changed because it isn't insulated.

It was built in 1965, and a key reason why the building has a preservation status is the interior; architect Josep Ferragut created the first open-plan offices in Mallorca. However, the internal structure is such that the ceilings are too low for current-day requirements for wiring and air conditioning.