Townhouse for sale in El Terreno, Palma de Mallorca, Mallorca

Reference: 04SBAP038JP

305-square-metre property complex in El Terreno.
A unique investment and development opportunity in one of Palma’s most promising areas.

Property complex for sale, comprising three independent cadastral properties, with enormous potential for rental income, renovation and appreciation in value.

One of the properties includes a home with independent access, as well as a ground-floor commercial unit that is currently shored up. Both offer numerous possibilities for reconfiguration and use. The unit could be used as commercial space, a garage or a studio, or incorporated into a larger residential project.

The other two cadastral properties currently have 7 active rental agreements (interior viewings are not possible), generating immediate income from day one. The agreements are due to end over the next few years. Due to the tenants’ occupancy and privacy, this part of the property is currently unavailable for viewings.

The complex has approximately 305 m² of built area and is configured with an unrestricted roof, offering extensive possibilities for development, comprehensive renovation, expansion and reconfiguration, always subject to planning regulations and the relevant permits.
The commercial unit has an exit onto Avenida Joan Miro, while the homes face number 5 Georges Bernanos, with a large frontage.

Ideal for investors looking to maintain the current rental income, as well as developers or private buyers interested in undertaking a project with significant potential in a high-demand, growing area of Palma.

A versatile property with excellent prospects and a wide range of possibilities for future use.