Authentic 3 bedroom Penthouse for sale with panoramic view in Casco Antiguo, Palma, Mallorca

1,920,000 EUR 1,651,200 GBP 2,073,600 USD

Reference: 235220

Bedrooms: 3
Bathrooms: 2
Floor Size: 225 m2

Features

Penthouse
Duplex
Balcony
Terrace
Fireplace
Elevator
Panoramic View
Quiet Area
Garage
Good Condition

Details

Unique opportunity to acquire an exceptional 3 bedroom Duplex Penthouse with garage, enjoying panoramic views from its large terrace, ideally located near all amenities in the heart of Palma's historic centre.

Set in an old Palace dating back from 1850 with original Mallorquin features, this charming property is located on the third floor.

The main floor has 125m2 with more than 3m height ceilings and exposed wooden beams. The main entrance has the dining area with windows to the interior patio. There are 2 double bedrooms with French window doors and one with a balcony, a cosy living room, a bedroom with en-suite bathroom and an independent kitchen that leads towards the pantry, utility room and a loft style double bedroom.

All rooms have exterior windows, except the bathroom.

The upper floor leads to 56m2 of a living room with fireplace, an office/bedroom and bathroom en-suite. There are exposed beams with sloping ceilings like a loft and stone on the wall. The private terrace of 43m2 shaped like an "L" is accessed from here. Privacy and tranquility is what this terrace features.

Additionally the building installed a lift to the top floor, and there is a garage of 24m2 with an additional storage room in the interior patio Mallorquin.

This type of property with Mallorquin features in a quiet street yet close to El Borne and Plaza del Mercat, is very hard to find in Palma city.

There is potential to renovate or keep it as it is with its original character.

This complex enjoys the best Palma location, right in the heart of Palma's historic centre. Numerous touristic sightings, shopping malls and Palma town hall are all within walking distance. The Palma promenade along the sea is also nearby.

Penthouse with Private Terrace for sale in Old Town Palma.

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Balearic Islands Property Buying Guide

1. Putting down a Holding Deposit

On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.

2. Setting up a Pre-agreement (Contrato privado de compraventa)

The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.

3. The Contract (Escritura de compraventa)

Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.