JLL, the international real estate agency, has represented the tenant, the globally well-known Scottish Skyscanner, a travel fare aggregator, to renegotiate its office space in Budapest. The lease renegotiation of 1,000 sq m was successfully concluded and the client signed an additional 5 years in the K6 Office Building.
Skyscanner is an aggregated search engine specialised for travel-related browsing, which can be used to search for flights, hotels, rental cars, based on time and destination. Presently, it offers services in over 30 languages and is extremely popular around the world as it belongs to the leading travel search portals.
Currently, a number of providers of IT services have offices in Budapest, in no small part due to the recognised IT expertise that is available in the Hungarian capital. In addition, the continuously developing economy has a positive impact on the supply of high category office space as well. Skyscanner in 2014, at the launch of their mobile app development center in Hungary, selected the K6 Office Building at Astoria as the sole location for its expanding and highly successful Hungarian team.
„It is a great honour and privilege to work together with such a well-recognised online business as Skyscanner. Their existing office provides ample opportunities for informal collaboration among the developers, researchers and product managers already. I’m delighted that the owner and the tenant were able to reach an agreement that is to the satisfaction of both parties and may serve as a benchmark for future long-term cooperation between them.” – said Krisztina Major, Head of office consultancy services at JLL.
Myra Fulton, Director at Skyscanner added: „We are very happy that we were able to extend our lease at the same location, since when we moved here we strived to create a work environment to suit our culture. We aim to create an inspiring environment for our colleagues with roomy social areas and a gorgeous sunlit kitchen area at the rooftop level. As quite a few of our employees come to work by bike, locationwise the city center is ideal for us.”
The K6 Office Building was acquired by a Hong Kong private investment fund partnering with Wigan Acquisitions. Gamma Properties acts as Wigan and co-investors’ appointed leasing and asset management firm and the real estate team of EY Law Firm provided legal representation for the landlord throughout the transaction.
The building is situated at Astoria, an emblematic part of downtown Budapest, at the junction of Kossuth Lajos Street and Károly Boulevard in District 5. In 2006 the asset was completely refurbished and became a modern office building comprising of ca. 1,400 sq m Grade “A” office space on a ground floor and 6 upper levels. Due to the asset’s excellent location, easy accessibility and flexibility in enterior, K6 operates with 100% occupancy.