JLL & CBRE appointed as Co-Exclusive Agents for Exchange Palace
March 8, 2018
Exchange Palace the iconic former Budapest Stock Exchange building co-owned by Canadian developer Tippin Corporation and Luxembourg Optimum Fund Management, have received a final building permit and will commence reconstruction works in 2018.
Designed by renowned American architect Beyer Blinder Belle, global engineering firm ARUP, and executed by Hungarian contractor LAKI, Exchange Palace is expected to set a new standard in the prime the office market. The redeveloped landmark building will offer bespoke retail amenities, complimenting the ideal Liberty Square location. JLL & CBRE are appointed as co-exclusive leasing agents.
The building will offer about 22,000 sq m of offices, and about 8,000 sq m of retail space. Exchange Palace will be redeveloped in four wings, with the first (Nador Wing) delivered by the end of 2019.
David M Johnston MRICS Senior Director, Head of Advisory & Transactions at CBRE Hungary added: ‘’It is an absolute privilege to be given this opportunity to lease one of Hungary’s most iconic buildings. We will be targeting tenants seeking the most prestigious business address in Budapest. Exchange Palace is unquestionably the most important landmark project undertaken by an international developer in Budapest since Gresham Palace (Four Seasons), also stewarded by a Canadian. We are delighted to support Tippin Corporation in the successful rebirth of this exquisite Hungarian landmark.
dr. Peter Würsching MRICS, Head of Leasing at JLL said: “We truly believe that upon completion of Exchange Palace this landmark building will be the most desirable commercial property in Budapest. The success of the project is further reinforced by Tippin Corporation engaging the services of world renowned international architects and engineers, supported by the best in class Hungarian professionals. We are excited to be part of this project, which will create not just the most desirable prime office building in the Central Business District, but a beautiful community destination on Liberty Square.”
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