Coca-Cola HBC Česko a Slovensko, a company within the Coca-Cola Hellenic group, has sold its production and distribution premises of 155,000 square metres, including all technologies, in Lúka near Piešťany to Priemyselný Areál Lúka. The deal followed the decision of Coca-Cola to move its production from Slovakia to Austria. Both parties agreed not to disclose the value of the transaction.
Priemyselný Areál Lúka is a joint venture of the company Slovenské Liehovary a Likérky [Slovak Distilleries and Liqueur Producers], producing spirits and vinegar and Waterholding, producing mineral water, syrups and non-alcoholic beverages.
“Development of our companies, entrance to foreign markets and related increase in production required new premises,” said Andrej Hronský, general director of Waterholding as cited in retailmagazin.sk. “The production-distribution complex in Lúka is an optimal place for further expansion of our production. Its suitable location close to the highway simultaneously gives it all preconditions for becoming a significant logistics centre that will bring us closer to the consumer.”
Coca-Cola HBC Česko a Slovensko announced the closure of its production facility in October 2015. The company remains operating in the Slovak market and sells its products here.
JLL Slovensko, a real estate consultancy company, represented Coca-Cola HBC Česko a Slovensko in this deal.
“It was important for our team to find a buyer, who would acknowledge the modern commercial real estate as well as the rich deposits of underground water which the plant has at disposal and which the project will fit into its strategic planning,” said Samuel Šporka, head of industrial real estate at JLL Slovensko, as cited in a press release.
Sub: Attractive sector
Modern industrial real estate amounting to approximately 1.93 million square metres in Slovakia has been the most active real estate sector during last two to three years.
“It continues to be very attractive,” said Šporka. “Out of seven investment transactions, which were carried out in Slovakia during the first half of 2017 and which amounted to €154 million, three accounted for the industrial sector.”
The developer YIT Slovakia has launched the sale of apartments in the second building of the fifth, last, phase of the Tammi Dúbravka development. The new block of apartments will provide 42 apartments. It will be connected to the second building of the fifth phase with a community park. The sale of apartments in the first building was launched in September 2017.
The first weeks of 2018 indicate that the high interest in new warehouses in Slovakia is continuing. Developers are responding to the demand with the preparation of expansion phases for their successful projects as well as plans for new industrial premises and parks. The latter may start during the first half of 2018 and so developers would be able to offer new spaces in late 2018.
The developer Merius has brushed up its Semiramis Residence project which it plans to build in front of the Nové Mesto railway station and opposite Kuchajda lake in Bratislava. Its first attempt three years before failed as the local council did not grant it construction permission. The re-worked project with a price tag of €47 million is now undergoing an environmental impact assessment (EIA).
Prices of apartments in Bratislava have increased to their highest level since the crisis, the real estate agency Lexxus has discovered. Based on its latest residential real estate analysis, Slovaks are prepared to pay still more for apartments. This is because they fear further increases in real estate prices as well as the impact of measures taken by the National Bank of Slovakia (NBS). These may worsen accessibility of housing for the middle classes from January.
Although Slovakia has so far been able to attract new investors, in the not so distant future it may have problems with the placement of further investments. The reasons for this are the steadily declining availability of labour, the very slow development of road infrastructure and the lack of readiness of land suitable for the development of industrial parks, according to Martin Varačka, director of the industrial real estate division of the real estate consulting company CBRE in Slovakia.
Foreigners coming to Slovakia to work for the manufacturing industry try to live as economically as possible. They often do not arrive with their families and only work for a short period of time.
The Apollo 1 business centre on Prievozská Street in Bratislava is suffering from stability problems and will be pulled down and replaced with a new development. The demolition should start in March 2018 and be completed by the spring of 2019. This time-line stems from the plans of its owner, the company Smart City Centre, published as part of the ongoing environmental impact assessment (EIA) proceedings. Demolition work is expected to cost about €3.1 million.