Investors acquire H&M and BBVA premises on Palma's Passeig del Born

A group of investors has purchased the commercial spaces at the upper end of Passeig del Born. The shops remain open for now — for residents and business owners the deal raises questions.

Major real estate deal in the heart of Palma

In the late morning, when the sun hangs low over the plane trees on the Passeig del Born and the cafés slowly fill up, there is now a new owner on the street: a capital group has taken over the two retail units at the top of the Born where H&M and the bank BBVA are currently located.

What exactly was sold

The clothing store covers more than 1,800 square meters across two floors; the bank occupies about 500 square meters, according to information. Details of the purchase price were not disclosed. Existing lease agreements are to be continued for the time being – so H&M and BBVA will remain open, at least in the coming months.

What residents and shop owners say

In front of the entrance to a small bookshop on the corner of Carrer de Sant Miquel, a woman stops and watches the proceedings with an espresso in her hand. “Many of us are curious about what the new owners have planned. This is not an ordinary street, it is a heart of the city,” she says. Another shop owner, who has been supplying tourists with beach towels for ten years, comments dryly: “As long as the rent doesn't skyrocket, everything is fine. But risks remain.”

Why the deal stands out

The sale is one of the larger commercial transactions Palma has seen in recent years. The upper Born is among the most expensive shopping addresses on the island — here locals, cruise passengers and international visitors meet. When an investor group accumulates such spaces, speculation often follows: renovation plans, new rental conditions, or future concepts for gastronomy and flagship stores.

The city administration has so far not communicated any objections or special conditions. For the many commuters and tourists who stroll along the Born every day, little changes for now. But: anyone who arrives at Plaça de Cort and walks along the cobblestones will quickly notice: Palma remains in flux — slowly but surely.

Conclusion: A significant property purchase, for now without visible consequences for customers. For business owners and residents, the question remains how the situation will look in a year — and whether the Born will change its face.