JTRE project reflects market trends in Bratislava

26
Jul
2024
News - JTRE project reflects market trends in Bratislava #Bratislava #JTRE #office #residential #Slovakia

by Property Forum | Residential

Developer J&T Real Estate is requesting a construction change permit for the Downtown Yards project, SME.sk reports. Along with minor changes, there is an important one reflecting a trend obvious since the outbreak of the COVID-19 pandemic.


JTRE has been preparing the permitting process for several years. The project brings 656 apartments and suites in residential buildings. The tallest residential tower should have 27 floors. From Plátenícká Street, the architects designed five independent multi-functional buildings. They should include shops, service establishments, smaller offices, and a kindergarten. A 35-floor office tower should also be built in the second stage. The development will be served by a three-floor underground garage with a capacity for 1,721 cars.

Currently requested changes include redesign of public spaces and adjustment of landscaping. The facades of several buildings are also to be changed, and other materials will be used in part of the project. According to the new changed plan, the second to fifth floors will no longer serve as office spaces, but short-term accommodation facilities, the hit of Bratislava resi projects in recent months as the office segment of the real estate market in Bratislava was significantly affected by the pandemic, the later inflationary crisis, and the increase in interest rates. 

The first stage of Downtown Yards should be completed between 2026 and 2027. The developer has already started selling apartments. The price of one-room apartments start at €213,000, while the price tag of the most expensive four-room apartment exceeds €900,000.




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New leases

  • IAG GBS Poland, the shared services arm of the International Airlines Group (IAG), has finalised a lease renewal for 2,246 sqm of office space within the O3 Business Campus in Krakow. The decision to remain in the current location followed a comprehensive market analysis and workplace audit conducted by Savills.
  • Golden Star Estate has secured two ground-floor tenants at its Warsaw-based Konstruktorska Business Center. 5 SENSES has signed as the new canteen operator, occupying 560 sqm of ground-floor retail space. Concurrently, CONTRACT Meble Biurowe has extended its commitment to the property. The firm, which has operated a publicly accessible showroom at the site since 2021, renewed its lease for 350 sqm on the ground floor.
  • American retailer GAP entered the Romanian market at Fashion House Militari, followed by the launch of an Italian Stefanel store at Fashion House Pallady, with a further Stefanel location scheduled to open shortly in Militari.

New appointments

  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.
  • Czech investment group SCF has expanded its team by appointing Jan Simandl as Senior Leasing Team Leader. In this role, Simandl will oversee leasing activities across the company’s commercial property portfolio. He previously worked for CPI Property Group and CBRE.


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