Éva Sréter has been appointed as the new Head of Retail at JLL
From September JLL’s retail agency operates again as a separate division within the company, in close cooperation with the office- and industrial leasing teams.
Office market news
News, analysis and lease transactions from the Hungarian office market
New leader joins Diófa Asset Management
15 September 2017 – Balázs Czifra takes over the real estate department at Diófa Asset Management.
Peter Würsching became the Head of Leasing at JLL
From September 2017 dr. Péter Würsching MRICS fulfills the role of Head of Leasing within JLL Hungary.
IMMOFINANZ launches “easy shopping“, the first international advertising campaign for its STOP SHOP retail brand
IMMOFINANZ has standardised the marketing for its international STOP SHOP retail park brand, which covers nearly 70 locations in eight countries. The new claim “easy shopping“ summarises the central brand drivers: STOP SHOP is the appealing and practical local supplier with a diverse product offering that provides attractive value for money and can be easily reached through good traffic connections. All promotional campaigns will now be developed in the Vienna headquarters and used for STOP SHOP advertising in all countries. The current “back to school“ campaign marks the kick-off for this new marketing approach.
IMMOFINANZ grows stronger in the first half of 2017: Significant increase in Group net profit to EUR 105.3 million
IMMOFINANZ recorded a significant increase in net profit to EUR 105.3 million in the first half of 2017 (H1 2016: EUR -243.3 million). Net profit from continuing operations, i.e. excluding Russia, totalled EUR 113.1 million (H1 2016: EUR -123.9 million). Rental income remained stable at EUR 114.9 million (H1 2016: EUR 115.9 million) despite the continuing sale of non-strategic properties.
NEW WORK Labs: a new, trendy office concept for startups
„NEW WORK Labs is a think tank for co-workers” – says Mr Hubert Abt, principal of NEW WORK Serviced Offices. What does it mean? Just imagine a vibrant, coloured, magnificent place for small companies. They don’t need huge spaces, complicated long term contracts rather inspiring office area – in downtown, if possible.
Exceptional yields confirm Eiffel Palace’s market value
Heritage protected Eiffel Palace – originally constructed in 1893 – was sold twice within the last three years, both times at the best yield in the Hungarian property market. The National Bank of Hungary (MNB) purchased the building directly from the developer (Horizon Development) three years ago in August 2014 at a price of €45.3M, with an approximate yield of 6.5%, and resold it in August 2017 to Luxembourg-based Corpus Sireo Real Estate investment fund for €53.8M, at a yield around 5%, generating an almost 20% profit on the deal.
Cushman & Wakefield clearly leading the Budapest office market
After 5 years of being absolute market leaders in Budapest, Cushman & Wakefield still holds the trophy this year by being involved in over 48,000 sq m office lease transactions till the end of July. During this time Cushman & Wakefield’s continuously growing Office Agency team concluded 40 transactions.
