News Article Bratislava investment IPD Pannonia Group Slovakia
by Property Forum | Investment

Family office Pannonia Group, together with the Austrian family office of IPD Innovation Park Development, has announced the completion of the transaction of the purchase of a historic building on Štúrova Street in Bratislava from Československá obchodná banka.

Pannonia Group and IPD closed the acquisition in the first half of April 2024. The building, originally the General Slovak Credit Bank, was designed by architect Alexander Skutecký in classical style. Since 1980 it has been protected as a national cultural monument. This building, built in 1923 falls into the hands of a private owner for the first time in a hundred years. The new 50:50 joint venture owners are planning a renovation that will respect the history and unique features of this iconic building.

The reconstruction is expected to be finalised and the building will open in 2026. The renovated building will connect Bratislava's historic centre with a new commercial district and is expected to attract tenants ranging from diplomatic missions to private firms on long-term leases.

Vienna-based Innovation Park Development GmbH (IPD) has been in business since 1994. The family-owned company started with commercial properties in Austria and then focused on projects in Hungary. Since then IPD has been active throughout central and Eastern Europe, and has opened additional offices in Budapest and Sarajevo.

Pannonia Group is a Slovak family office and asset management company specialising in direct, long-term investments in prime-location real estate, tech, and e-commerce. Its real estate portfolio comprises commercial and residential historical buildings in Bratislava city centre, alongside land holdings in Slovakia and Europe.