Bank Center has had an incredible year in 2013: the occupancy rate has reached 87%, which exceeds the 78% average of the CBD speculative office market stock. Besides the premium location, this result has been achieved by a modern, environment-friendly investment of the management. After a technological upgrade in 2012 a 15% cut in energy costs has been achieved. This means that Bank Centre is one of the most efficient and best value GREEN office buildings in Budapest today.
The facility management maintenance cost have reduced: due to this property management cost per square meter/month could be cut by 10%, from HUF 1,396 to HUF 1,256.
’Our efforts do not simply mean following trends. We offer real savings to our tenants and our experience is that they appreciate this’ says Anett Éles, Leasing Manager. She is justified by the fact that transactions last year covered 9,425 sqm, 51% of which are new leases. This covered 20% of the annual Budapest CBD leases with Bank Center representing only 11% of the office accommodation in the CBD submarket. Moreover, the building registered 14.4% of all new leases in 2013 in the CBD, including the largest new lease in the submarket (the Chamber of Industry and Commerce).
Ace European Group, Booking.com, EUCham and Hays Hungary decided to move their new headquarters in Bank Center last year. The first half of 2014 will see the new office of Gano Excel and the range of services will expand with a Mr. Fruit culinary shop. The Center has 63 tenants in total including the new partners, the majority of which are multinational financial service providers and government agencies. New tenants include companies with HR, insurance and online travel agency profiles.
Some of the existing tenants renewed their lease contracts including ELC, Finalyse Budapest Kft, Falkenburg, Rockspring Hungary Kft., DHL and Tichy Tisztító. Besides these there are advanced negotiations in progress on more than 1,500 sqm. Tenant retention is as important as signing new leases. It shows that people like working at Bank Center and that they appreciate the efforts of the Landlord.
By the environment-friendly technological upgrade the building has received an international green certificate BREEAM In-Use. It has acquired a ’Good’ certificate in Asset Ranking category and ’Very Good’ in Building Management category. ’This is an outstanding achievement acknowledging the owners’ dedication for continuous investment into the property, since the office building is 17 years old’ says István Rézsó, Property Manager.
The office building is asset managed by GLL Real Estate Partners, with leasing and property management activities run by Avestus Real Estate.
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