The new development that is rising on the premises of the former Bratislava Thread Factory, colloquially known as Cvernovka, is getting a new name – Zwirn. The new name symbolises a move forwards as well as connecting the whole zone with its history, claims the Slovak-Finnish developer YIT Slovakia. The factory has changed names several times over the years. It was called Pozsony Csernagyar, Pressburger Zwirnfabrik, Bratislavská Cvernová Továreň, Danubia, and Závody MDŽ 8. Marca.
“The new name Zwirn stems from the original name of the thread factory and carries in it the tradition of the function of this area, which we certainly do not want to forget,” said Milan Murcko, general director of YIT Slovakia as cited by the Denník N daily.
The fact however is that the developer failed to agree with the community of artists, architects and other so-called creatives about the right to use the name Cvernovka for the new development. The community registered the name as a trademark in late 2015 even before YIT Slovakia acquired the premise. The negotiations about the possible usage of the name of Cvernovka for the development failed on the price.
YIT Slovakia bought the former Bratislava Thread Factory in November 2015. Last year it selected architects from the Bratislava-based studio Compass Architekti via an international competition to design the project for these premises.
Of the former factory only the protected spinning mill, Pradiareň, and the engine house will be preserved. Pradiareň will be converted into office and retail space. The engine house, called Silocentrála in Slovak, will become a café and a congress hall. YIT Slovakia also plans to build about 700 flats in the area.
Photo: Courtesy of YIT Slovakia
After existing and potential clients showed an eminent interest in central Slovakia, the biggest logistics real estate company in Slovakia, Prologis, began to look for suitable land for the construction of a new industrial park in the desired locality close to Nitra, Banská Bystrica and Zvolen. It found it in Žiar nad Hronom.
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.