Investors in Slovakia are becoming more interested in launching their projects on brownfield sites or old industrial premises, Martin Varačka, head of the department of industrial real estate at CBRE Slovensko, confirmed for the TASR newswire. Apart from their further use for manufacturing or warehousing, new functions including residential ones may also be found for such sites.
“If the market enables this, enlightened developers will be able to make loft apartments or offices from such buildings,” said Varačka. “It is up to the developer whether they want to keep the spirit of the place.”
The Ministry of Transport and Construction supports the further usage of former industrial premises, unused and devastated commercial real estate, unused military zones and other sites and land in urbanised areas as these can be used for functions that would otherwise require an unnecessary extension of built-up land.
Sub: Database of brownfields
The Slovak Environment Agency (SAŽP) is working on a database of degraded, abandoned and insufficiently used urban ecosystems. The aim is to have a database for 140 towns and cities in Slovakia and propose processes and measures leading to the repeated usage of brownfields.
To date, the agency has collected information about brownfield sites in all eight regional capitals including Bratislava, 17 towns in the Trenčín Region and seven selected towns (Bytča, Čadca, Kysucké Nové Mesto, Martin, Piešťany, Malacky and Ružomberok).
The agency has been working on the database since 2015. It should be complete by 2022 but the initial results may be made public as soon as 2019. After completion, the database would be accessible by the public.
In December the agency, in cooperation with Bratislava city council, is preparing an exhibition called “Degraded ecosystems – Brownfields in Bratislava”.
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.
The average price of flats in all eight Slovak regional capitals increased over July. Nevertheless, the increase of a mere €8 per square metre, from €1,613 to €1,621 per square metre, is the lowest month-on-month increase over the last few months. Thus, the expectations of Vladimír Kubrický, analyst for Realitná únia, have been fulfilled after he predicted that, following the tightening of conditions for taking out mortgages introduced by the National Bank of Slovakia as of July 1, 2018, there would be a stabilisation of prices.
Investors invested almost €500 million into commercial real estate in Slovakia during the first half of 2018. This almost equals investments for the whole year of 2017, which amounted to €535 million, the data of the real estate consultancy company JLL indicates.
One Fashion Outlet 1 near the village of Voderady, the biggest outlet centre in Slovakia, has filed for bankruptcy, the Trend weekly informed. The further fate is now in the hands of the courts.