Hostal Corona in El Terreno, Mallorca

Hostal Corona. | Gabriel Alomar

Andrew EdePalma31/01/2024 09:01
TW
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The Hostal Corona in Palma's El Terreno district is back on the market again. It was put up for sale in 2020 and bought for five million euros by a group of Swedish investors in 2021 with the intention of turning it into a boutique hotel and restaurant.

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It is for sale once again. On the Idealista property website it is available for five million euros, the same price as it was in 2020. Idealista in fact started to advertise it for sale in June last year, explaining that the investors had decided to put it on the market. The website is now undertaking a new sales push.

With 22 beds, relevant licences are in place that would allow the upgrade from hostel to hotel. Designed by architect Gaspar Bennàzar in 1930, the building was first converted into a hostel in 1952. It then became associated with El Terreno and its 1960s heyday, a time when the likes of the Jimi Hendrix Experience performed at the Sgt. Peppers club.