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.
The demolition work will be divided into phases as the buildings will be actually dismantled and the materials processed or reused. Afterwards the developer HB Reavis will replace it with a new development of similar size.
“The Apollo Business Centre I needs complex changes due to its flawed structural composition,” the CEO of the HB Reavis Group, Pavel Trenka, told the SITA newswire back in June 2016. “Moreover, the building is technologically used-up and a new project is a better solution than the reconstruction of the existing one.”
The new building will include offices, retail and leisure-time outlets offering services to the local community as well as to growing companies in Bratislava.
Problems with the structural composition at the business centre, completed in 2005, occurred in 2015. These were so serious that its tenants were moved out and the centre was closed down. The original plan was to fix the flaws and reopen the centre in early 2016. Following stress analyses, experts recommended the centre be pulled down.
Fewer than 3,000 new apartments are available on the market of new residential buildings in Bratislava, which is the lowest figure for the past two years. As demand for new apartments is still relatively lively, prices for new units continue to grow slightly, the TASR newswire cited the real estate agency LEXXUS.
The Austrian company Soravia has opened a new retail zone in Liptovský Mikuláš in northern Slovakia, the Retail Park Liptovský Mikuláš. It is 9,000 square metres and is the first investment by the Austrian developer outside Bratislava. The investment totalling €22 million has created 100 jobs so far.
At the end of the second quarter of 2018, apartments under construction numbered 76,000 in Slovakia. This is the highest number since 1996 when the Slovak Statistics Office began to register this data. Because the figure for residential real estate under construction in the early 1990s was low, figures from the second quarter of this year are the highest since the launch of independent Slovakia in 1993, the Trend weekly reported.
Construction of a brand new bus station and the extensive reconstruction of Mlynské Nivy Street are going according to plan.
The PNK Group, an international developer of industrial and logistics real estate from Russia, has joined the European real estate market by constructing a new industrial park called PNK Park Sereď in western Slovakia. Spanning 45,000 square metres of industrial space, the park offers premises for various uses: storage, distribution centres and light industry assembly halls.
After the British carmaker Jaguar Land Lover (JLR) announced its plan to build a brand new plant in Nitra, local real estate prices skyrocketed. Now the situation seems to be calming down. This is because the central bank has tightened conditions for taking out mortgages as well as developers announcing projects for the construction of new apartments.
The Czech investment fund Arete Invest, focusing on investment in real estate, is building a new warehouse for the international chain of fashion e-shops Factcool in the industrial park at Nové Mesto nad Váhom.