Below is the march edition of a newsletter that I have signed for.
I know that local knowledge is good but I sometimes think that it can be biased. There are a lot of people in Dublin (and Cork) who would tell you not to buy north of the river but it is sometimes a mistake to take local bias in to consideration.
----- Original Message -----
From: "Andras Patkai" <
[email protected]>
Sent: Monday, March 20, 2006 10:49 PM
Subject: Bratislava Property Newsletter - Mar 20, 2006 - The Ballymore Area
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> Bratislava Property Newsletter
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> March 20, 2006
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> The Ballymore Area
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> What is the city going to look like around the Eurovea waterfront development? The area is commonly referred to as "The Ballymore area." It is interesting to look into what is expected in its immediate neighborhood, as well as across the river, by 2010.
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> Ballymore advertises its project as "Central Europe's most sophisticated mixed-use riverside development." with "Over 200,000 sqm of corporate offices, retail galleria, hotel, casino, multi-plex cinema, riverside apartments and waterfront park." The city is expecting 150 shops, a 200-bed 5-star hotel, 23,000 m2 of office phase in the first phase (with 87,000 m2 office planned for the 2nd phase), and 250 Danube apartments there.
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> With the completion of the Apollo Bridge in Sept 2005, the fifth bridge over the Danube, the vast areas on both sides of the river in this absolutely central location suddenly became accessible for development, where the standard was set by this beautiful state-of-the-art bridge. The Capital City claims: "Contemporary strategic investments in Bratislava are now being focused on the Danube River banks. The main bus and railway stations will also soon undergo substantial changes."
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> There are major plans submitted regarding high-rise residential and commercial buildings, as this is the area (on the north bank of the Danube) specifically zoned for skyscrapers in Bratislava, where the maximum height allowed is 125 meters. The neighboring Old Town only allows for 19.5 meters, that is 5 floors plus roof. One developer has already received permits to construct 8-10-floor residential and office buildings, 10-12 city blocks in all.
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> There are plots for sale, along with planning permit. For example one residential developer has received permission to build 75,000 m2 sellable floor space according to current plan, however, is redesigning in order to make it 100,000 m2, will be ready Aug-Sept 2006. Currently there are 204 units in four buildings, where smaller investor-friendly apartments, 1-beds, 2-beds are planned. They will be ready to sell off-plan by Aug 2007, early 2008, and the buildings will be completed in 2010. Construction costs are estimated at 650-700 mln SKK (17.5-19 mln EUR), the builder will be Skanska and/or Strabag. Prices would be 48,000 Sk (1300 EUR) /m2 + 19% VAT. They would prefer to sell the whole project off-plan to a single investor. They also need an investor for a hotel in same location, for an advance contract with hotel improves developer's position with the banks. This is just an typical example of what is happening behind the scenes in this newly created administrative and commercial center of Bratislava (Central Business District). Send an email to
[email protected] for more info.
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> HB Reavis is building the new bus station in Nivy. J&T Global is planning 3 further 100 meter-tall towers around Tower 115 (Press Center), the tallest building in the city.
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> With regard to the municipal plan, the city also puts great emphasis on a new all-city center situated on the right bank of the Danube, opposite the Ballymore investment, where a state-of-the-art multi-purpose hall seating 12,000 people is envisaged. This will primarily be an area of office buildings to take advantage of the superb Danube views and excellent transportation along the motorway connecting the airport and Eastern Slovakia with Austria, the Czech Republic, and Hungary. It is also just across the river from the city center, so residents and employees in the high-rise buildings will enjoy the classical Castle view. This is where the Vienna Park Apartments are located, the first residential and commercial project to begin sales in this new business district.
http://blavablava.sk/vienna.htm The ground-breaking venture on the right/south side of the river was the successful Aupark shopping-entertainment mall, the largest and most successful regional shopping center in Bratislava, with a guaranteed property return of 7.75%, which is being expanded by HB Reavis with an investment of 54 mln EUR. There are already a number of A-class office buildings along Einsteinova Street, where the Digital Park, opposite Aupark Mall, will be one of the most prominent points of attraction for commercial space.
www.digitalpark.sk.
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> You can still reserve residential or commercial space through CE Invest in these riverbank developments, where the city will never be the same again. We will send you visualizations of what the district will look like by 2010, from the city planning office, upon request.
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> Looking forward to hearing from you personally,
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> Sincerely,
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> Andras Patkai
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> CE Invest s.r.o.
> Real Estate Investments
> Michalska 3
> 811 01 Bratislava
> Tel: +421 2 5464 5436
> Fax: +421 2 5464 5438
>
[email protected]
>
www.blavablava.sk
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