Spectacular restored historic palace 5 minutes from Vitoria: Unique estate with mixed-use designation and licenses

Just five minutes from the center of Vitoria-Gasteiz, this emblematic historic palace (known as Otalora Guevara Palace) is offered for sale. This fully restored heritage property stands out for both its architectural value and its enormous investment and operating potential.

Although the property is perfectly suited as an elegant private residence or prestigious representative venue, its true distinguishing value lies in the fact that it retains its mixed-use designation and valid licenses. This makes it the perfect opportunity for investors or entrepreneurs seeking a unique asset where they can combine a private residence with the implementation of a business project, or dedicate the entire property to commercial use.

Main business and investment possibilities:

• Event and celebration venue: Spacious halls and areas prepared to host boutique weddings, corporate events, or exclusive gatherings.
• Gastronomic project / Gastrobar: Previously fitted facilities with a bar/catering area, ideal for a gastronomic club or charming restaurant.
• Cultural center or creative space: Open-plan rooms adaptable for art galleries, studios, workshops, or a multidisciplinary space.
• Mixed residential / professional use: Possibility of using the upper floor as a residence or representative apartment and the ground floor for commercial activity or a professional studio.

(The buyer may retain the historical name Otalora Guevara Palace; should they wish to use the registered trademark “Mi castillo de arena,” this would require a separate purchase agreement or royalty payment arrangement with its owner.)

The property is in impeccable condition, with its roofs, stone façades, and elegant halls fully restored and ready for immediate use, with no need for structural renovations.

A strategic investment opportunity next to Vitoria. For further details or to arrange a private viewing, please do not hesitate to contact us.