BRITISH COMPANY LEADS SURGE IN INVESTMENT IN PALMA

Humphrey Carter07/08/2014 00:00

Palma.—A leading British investment company is understood to have become the latest foreign company to have made a substantial investment in Palma.
Yesterday, Solvia, the property wing of the Banco Sabadell group, confirmed that the emblematic Can Puig Palace on the Borne has been sold to a British consortium for 51.5 million euros.

Residential
The building houses Zara and H&M are on the ground floor, but according to Solvia, the investment company intends to convert the rest of the 15th century building into a residential property. There is apparently 2,506 square metres spread over five floors which are going to be converted into residential properties.