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.
“I sold one of the companies from my portfolio,” said Poór, as cited by the TASR newswire. “We are glad that it has remained in the hands of a Slovak investor.”
The deal has been one of the most important transactions of this year in terms of the retail sector. The negotiations for the transaction lasted for almost one year.
With the purchase of the City Arena, Korbačka has extended his portfolio with another project.
“I believe in the long-term sustainable growth of the retail sector and in Trnava’s potential,” said Korbačka. “City Arena’s location in the absolute centre of the city, the high-quality construction work, the 100-percent occupancy of the rented premises and the synergy with the neighbouring [football] stadium are the prerequisites for it [the shopping centre] to continue to be successful.”
The City Arena shopping centre was built at the same time as the reconstruction of the football stadium. It was opened in August 2015. The total of the investment was €80 million, of which €30 million went into reconstruction of the stadium. Poór, owner of the football club Spartak Trnava, received a €13 million state subsidy for the reconstruction of the stadium.
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.
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.