While Bratislava already accommodates almost 30 shopping centres, another one is on the horizon. Macho Consulting, a company that has been devoted especially to residential projects in the past, will build Matrix Mall in the more or less industrial zone of Bratislava in the borough of Nové Mesto. The shopping centre on the corner of Magnetova and Vajnorská streets, close to the Vozovňa Nové Mesto depot, will offer retail and office space.
“Its fundamental competitive advantage will be a fast connection with the city’s ring road as well as the D1 highway,” says the developer. “Moreover, shoppers will be able to conveniently get to the mall by public transport.”
The developer believes that thanks to its locality it has the potential to become a dominant shopping complex in the heart of Vajnorská Street. This is one of the main sally roads of the capital, about 7 km long.
Based on data from the consultancy company JLL, the Bratislava region sports more than 700 square metres of retail space per 1000 capita. In Europe the standard is about 220 square metres.
Even though the density of shopping centres in the Bratislava region is almost four times greater than the average in Europe, the local retail market is not saturated, according to a retail market expert.
“In the end customers will be distributed amongst them as they mostly prefer malls in their catchment area, i.e. close to their homes or work places,” said Alexander Krajňak of the real estate agency Re/Max, as cited by the Hospodárske Noviny economic daily.
Building small shopping centres therefore makes sense.
“Matrix Mall is a smaller retail project, which will not shake either the real estate market or the competition on any significant scale,” said Krajňak.
Construction work is planned to start this autumn. Neither the date of its completion nor the amount of investment have been revealed.
The first storey of Matrix Mall will be shops, while the second will be composed of offices. It will be more than 3,200 square metres in area and could be compared in terms of size with Decathlon Pharos. Large shopping centres like Avion Shopping Park, Aupark or Eurovea have about 60,000 square metres of retail space on average.
Photo: Courtesy of Macho Consulting
Trnava-based tycoon Vladimír Poór has sold the recently opened City Arena shopping centre in Trnava to Peter Korbačka, the head of the board of directors of the developer J&T Real Estate. The latter already owns the Eurovea shopping centre in Bratislava. Neither the price nor other details of the transaction have been disclosed.
The emptied defective Apollo Business Centre 1 in Bratislava will be replaced by a brand-new construction. The developer HB Reavis estimates the launch of demolition work for the end of 2018. Construction work on the new business centre, the Nové (new) Apollo should start in late 2019 and be complete in 2021. Exact dates will depend on permission processes.
Bratislava is to get another revitalised public space. The developer Corwin is renewing a neglected park on Kmeťovo Square in the Old Town borough. Works on the park, which lies between Bernolákova and Wilsonova Streets, have already started and should be complete by the beginning of the summer.
The main industrial regions in Slovakia are reporting a lack of accommodation capacity for workers. These are in the vicinities of industrial and logistics parks mostly along highways connecting Bratislava with Košice (D1), leading from Bratislava to the Czech Republic (D2) and the dual carriageway from Trnava to Banská Bystrica (R1).
The developer, belonging to the Bencont Group has already started pulling down the buildings and cleaning the three-hectare area. “We believe that Rínok Rača, which we will begin to construct soon, will be the new centre of the borough and will naturally fit into the life of its citizens,” said Martin Šimurda, representative of the developer Rínok Rača, as cited in the press report.
The new indebting rules tightened by the National Bank of Slovakia (NBS) will primarily impact citizens of the Slovak capital, Bratislava. They will be able to buy on credit, from an average wage, maximally a one-room flat in a new building or a two-room flat in an older block of flats. Other regions will be significantly less affected by the new lending cap, Poštová Banka has found out.
In the first quarter of 2018, the overall offer of office space in Bratislava reached almost 1.72 million square metres. The vacancy rate slightly decreased to 5.99 percent from 6.18 percent in the previous quarter. The lowest vacancy rate was in the Bratislava V district (3.22 percent), the highest in the Bratislava IV district (9.05 percent), the Slovak branch of the real estate services firm Cushman & Wakefield reported on April 20 as cited by the SITA newswire.