A thorough refurbishment of the Trnavské Mýto pedestrian underpass, a dilapidated but significant hub of public transport in Bratislava, was launched on October 16. Works are projected to last nine months with the plan being to open the renewed underpass in mid July 2018. The work will be divided into phases in order that people can use the underpass during its revitalisation. The Immocap Group are the company responsible for the refurbishment and will invest €2.5 million into the project while Bratislava city council will provide €1.2 million for the purchase and installation of new escalators and lifts.
“Bratislava will get an underpass with new design, architecture and services appropriate for the 21st century,” said Bratislava Mayor Ivo Nesrovnal, when announcing the launch of construction works. About 30,000 people cross the underpass daily.
Last year Bratislava councillors chose the Immocap Group, which built the nearby Central shopping mall, as the future tenant of the underpass crossing. Part of the deal is its complete reconstruction.
Based on the rental contract signed last November, the Immocap Group has rented Trnavské Mýto for 15 years with an option of five years for one euro annually. The condition is that it invests at least €1.01 million ex VAT into its refurbishment.
During the reconstruction, all seven entrances into the underpass will be renewed. Old escalators will be replaced by new ones and lifts will be built in order that the underpass becomes barrier-free for people in wheel-chairs as well as people with prams.
After the reconstruction, Trnavské Mýto should house a grocery store, a news-stand and fast food stalls. There will be a 24-hour video surveillance system, guards and a paid WC. There will also be electronic tables with information about incoming and outgoing buses and trams.
“We want to bring to Bratislavans a new, safe, barrier-free, attractive underpass which, apart from shops and services, will also bring space for living and where it will be possible to spend time in a pleasant way,” said Peter Lukeš, head of the board of directors of the Immocap Group.
In November, the city plans to launch revitalisation works on the surface of Trnavské Mýto. It will partly renew the tram stops and footpaths. It also plans to remove stands near bus stops and the market hall.
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.