Overview of Hostal Corona El Terreno

If you’re scouting for a unique property in Palma de Mallorca, look no further than the emblematic Hostal Corona El Terreno. This structure, originally designed as a private home by the esteemed architect Gaspar Bennàssar i Moner in 1930, transitioned into a hostel and restaurant in 1987. El Terreno itself has a rich history, having once served as a summer retreat for affluent families from Palma, who constructed colonial-style villas with expansive gardens that boasted views of the city and the sea.

Historical Significance of El Terreno

From the mid-20th century, specifically the 1950s to the 1970s, El Terreno became a hub for international celebrities. Iconic figures such as Errol Flynn and members of the famous 1950s brat pack, including Frank Sinatra and Dean Martin, frequented the area, establishing its reputation as a lively summer playground. As Spain began to embrace tourism, El Terreno’s bars, cafes, and nightclubs became hotspots for social gatherings among the elite.

Revitalization Efforts in El Terreno

Recently, significant revitalization efforts have been underway, notably the Gomila Project, spearheaded by architectural studios like MVRDV and GRAS. Initiated in 2021, this project aims to infuse avant-garde architecture into the area, restoring El Terreno and Palma’s waterfront to its former prestige. This marks one of the most extensive renovations seen in any Palma district in the last five decades, indicating a promising future for the location.

Property Details

The Hostal Corona spans a 531m² plot with a constructed area of 484m², consisting of 14 rooms that can accommodate 22 guests. The property is equipped with a commercial kitchen, bar, and restaurant situated on the ground floor, complete with a garden patio. You’ll find terraces offering picturesque sea views and lounges designed for relaxation across three floors.

Additional Features and Opportunities

This property comes with a service license, allowing the hostel and restaurant to resume operations immediately. Adjacent to the main building is a 272m² urban plot utilized for parking, which accommodates up to ten cars for hostel guests. This space opens up a range of possibilities for the buyer, including the potential to construct an additional building featuring underground parking and a swimming pool.

Potential Uses for the Property

The options are varied: the structure can be transformed from a hostel into a boutique hotel, or repurposed into a private residence or residential apartments. Each of these conversions could include exclusive community facilities, allowing for significant customization to meet future needs.

Contact for More Information

If you are interested in this exceptional opportunity in one of Palma de Mallorca’s sought-after areas, please reach out for more details. The potential for growth and transformation in this historic and vibrant region is considerable, making it an appealing investment. Don’t miss out on the chance to own a piece of Palma’s rich heritage.