Villa for sale in El Arenal, Mallorca €4.000.000

This plot of land is a unique opportunity to acquire an area in Mallorca with enormous investment potential and the opportunity and plans to reform the existing building back into a hotel as it was originally built, or demolished and excavated to build a new block of apartments with penthouses. It is possible to construct 4 levels (700m2 each level) plus a basement for underground parking at another 1400m2 with up to 30 apartments including the penthouses on the 4th floor. The plot is half surrounded by green zones, providing natural views for each apartment whilst the 3rd and 4th floors also offer sea views over Palma. Recent development and investment of the roads have been made and amenities in the immediate area by the council have now connected the plot to easier access to the motorway (5 minutes) and the airport is just 9km away. With sun all day and just 400m to the amazing beach of El Arenal, plus all the shops, restaurants and cafes this project will work for either option of a hotel reform or new build apartment block.