The iconic building of the British retail chain Tesco department store in the centre of Bratislava has changed hands. The new owner of the building is the Mirage Shopping Center company of Žilina-based businessman George Trabelssie. Since 2016 the retail chain Tesco has sold five department stores across Slovakia. Trabelssie, who is close to former chair of the Slovak National Party (SNS) Ján Slota, acquired Tesco department stores also in Nitra and Žilina, the Hospodárske Noviny business daily reported. Tesco will continue to operate in the building on Kamenné Square as it will rent the premises.
“We plan to continue to bring our services to customers in this locality,” said Lucia Poláčeková, PR manager of Tesco in Slovakia, as cited by Hospodárske Noviny.
While the sum of the transaction has not been disclosed, the retail chain plans to invest the proceeds into its 150 outlets and services it provides in more than one hundred towns across Slovakia. In total it now owns 64 hypermarkets, 57 supermarkets and 29 express shops in the country.
Tesco announced its plans to sell the department store in early 2018. While the building has already undergone several reconstructions in order to meet the expectations of customers, it needs extensive funds for its restoration.
Trabelssie is expected to introduce his plans with the department store to the Bratislava city council and the public soon.
The Bratislava city council plans to promulgate an architectonic contest for the revitalisation of Kamenné Square and adjacent SNP Square. So far, it has held no talks with the new owner.
“We believe that the sale of the department store will neither be an obstacle nor a complication to the city’s intentions,” said Katarína Kohútiková from the media department of the Bratislava city council, as cited by the daily.
Other owners of real estate on Kamenné Square is the British developer Lordship and the city. Lordship negotiated with the British retail chain over the acquisition of the building several times, but they failed to agree upon a price. The developer originally had extensive plans with the square, but later reduced them.
The department store is part of a complex designed by renowned architect Ivan Matušík and built between 1961 and 1973. The building of the then state retail chain Prior was opened in 1968. At that time it was the first department store of its kind on the territory of today’s Slovakia. Apart from the new shopping style, the possibility of shopping for all kinds of goods in one place, buyers also had to get used to another novelty – escalators. On its facade is Bratislava’s calendar carillon clock by sculptor Jaroslav Kočiš.
Later, the triangle-shaped department store paneled with Slovak white travertine was extended by an oblong-shaped building interconnected with the neighbouring Kyjev Hotel. The project counted on a planned metro underground station under Kamenné Square, the Denník N recalled, but the plan has never materialised.
Company owners are searching for more effective solutions for managing their companies. One of such solution is shared office space; as much as 80 percent of companies using this solution put cost reduction as the reason. This way they save especially on costs needed for acquisition of offices and rentals, as well as repair and maintenance costs, a survey conducted by International Workspace has confirmed.
Extensive reconstruction of Mlynské Nivy Street in Bratislava and construction of a brand new central bus station, including an adjacent high rise office building, are progressing. Currently almost 450 workers of various professions and 18 cranes are working on it, the biggest construction site in central Europe at 4.4 hectares large. The developer HB Reavis still promises to launch the new bus station in late 2020.
In the former industrial zone on Račianska Street in Bratislava, next to the Lidl retail store, stands an old brick smokestack and concrete beams. These are the remnants of a long defunct parquet factory. Developer Corwin plans to replace the remnants with Guthaus, a residential complex with a new vision for housing quality.
Good office spaces keep employees happy at work, while having a modern, healthy and attractive office is also an efficient tool for recruiting new talent. Companies in Slovakia are aware what influence the working environment has on their employees and design their offices accordingly, show results of an annual competition organised by the real estate consultancy CBRE.
European commercial real estate investment volumes reached a record high of €312 billion in 2018. This represents a 0.3 percent increase on 2017, which was previously a record, when total investment volumes reached €311 billion, according to the latest data from leading global real estate advisor, CBRE.
Germany is the sixth European country in which the Slovak developer HB Reavis is active. In mid-February it announced two major acquisitions in Berlin and Dresden totalling 3.5 hectares. The announcement followed only a few days after media reported on the sale of some HB Reavis projects in the Czech Republic.
The oldest shopping mall in Bratislava, Polus City Center in Bratislava’s Nové Mesto borough, is undergoing major reconstruction. With an investment of €4 million euros, the interior and exterior of the shopping mall will undergo radical change.