Mannverk served as the main contractor for the redevelopment of Naustreitur, a unique urban block where Reykjavík’s old harbour area, the city centre and the historic West Side meet. The project combines the restoration of heritage buildings with new construction, creating a cohesive whole in line with the approved master plan.

Exeter – Restoration of a Historic Building
A key element of the project is Tryggvagata 12, Exeter, originally built in 1904. Mannverk restored and reconstructed the building and rebuilt and returned to its original architectural appearance while being adapted to modern standards. This approach is reflected throughout the Naustreitur development, where respect for the site’s architectural and cultural history was a guiding principle. It now houses the Exeter Hotel

Integrated Development and Vibrant Street-Level Activity
New buildings at Tryggvagata 14 and along Norðurstígur connect seamlessly with Exeter at street level, forming a unified architectural ensemble. Today, restaurants, a bakery and various services operate on the ground floor, strengthening Tryggvagata as a lively retail and service street. Upper floors house a hotel Exeter echoing the area’s industrial heritage through contemporary design.

At the heart of the block is a sheltered courtyard open to the public, with walking routes linking the garden to Vesturgata and Norðurstígur. The former street parking area on Tryggvagata has been transformed into a pedestrian-friendly plaza, improving access and enhancing the urban environment.

Outcome
Through careful design, precise reconstruction and coordinated execution, Mannverk has helped create a vibrant and cohesive city block in the centre of Reykjavík—where historic character and modern development meet seamlessly.

Laugarás Lagoon was officially handed over to the client on 13 November, when Bryndís Björnsdóttir, CEO of Laugarás Lagoon, received the keys from Þórunn Arnardóttir, Project Manager, and Jakob Ásmundsson, Site Manager at Mannverk. Ground was broken in March 2024, and the lagoon and the restaurant Ylja opened to the public in October 2025.

The lagoon itself measures 1,000 m² over two levels, complemented by a 1,700 m² main building that houses the reception, changing facilities, technical rooms, kitchen, staff areas, and the Ylja restaurant.

The project was designed by T.ark Architects in collaboration with Anthony Bacigalupo, who led the interior design. A wide range of specialised partners contributed to the project, including Hildiberg for lighting design and Efla for technical engineering, alongside a dedicated group of contractors and craftsmen who delivered high-quality work throughout.

Mannverk extends its sincere thanks to all partners for their excellent collaboration and congratulates all stakeholders on this outstanding achievement.

Thank you for bringing this vision to life:
Gröfutækni ehf, Grjótgás, Steypustöðin, Kjarnabyggð, Halda, Byggingaþjónusta Suðurlands, M7 Smiðir, TME, Landsblikk, KÞ Lagnir, Hreinrás, JBÓ, Statik ehf, Tengill, Nortek, Suðulist, Pétur Már Finnsson, Gólfefnabúðin – Hasar, Diddó – Casalisa, Figaro, Irma, BM Vallá, Fastus, Bako, Hurðatækni, Kælitækni and Ölgerðin.

Mannverk is the developer of the Fannborg site in Kópavogur and is building 163 apartments in five buildings, as well as retail and service spaces on the ground floor. Parking will mostly be accommodated in a two-level underground garage with 305 spaces, and surface areas will be used for public spaces. The development strengthens the town center as a vibrant hub where people can live, work, and enjoy services in the same area.

The total area of the project is:

Apartments: 11,860 m²
Retail and services: 1,880 m²
Common areas: 1,660 m²

Demolition preparations are ongoing, with work scheduled from after Christmas until March 2026. Earthworks will partly start in February–March, and construction will begin in May–June 2026. Completion is scheduled for the end of 2029.