News, analysis and lease transactions from the Hungarian office market
The completion of the largest Hungarian retail portfolio transaction in 2017 happened on the last day of the first half year. TREI Real Estate, the property estate arm of the German Tengelmann Group, successfully sold a portfolio of 40 Spar leased supermarkets to Erste Asset Management.
Colliers International Hungary is pleased to announce that Michael Smithing has returned to the Office Agency Team as Director of Landlord Representation, effective immediately.
Hong Kong (Central) and London’s West End topped the list of prime office occupancy costs again, according to CBRE Research’s latest annual Global Prime Office Occupancy Costs report. Annual prime office occupancy costs total US$197 per sq. m. in Budapest CBD.
Redwood Real Estate Holding (formerly known as B&L Estates), a Hungarian real estate developer has recently started the construction on a speculative basis of the 5,000 sq m, A+ category, LEED Platinum pre-certified Ecodome office building located in the heart of Buda.
M7 Real Estate has increased its penetration in the Hungarian market through the acquisition of seven light industrial assets across the country.
M7 Real Estate has increased its penetration in the Hungarian market through the acquisition of seven light industrial assets across the country.
The Zsiráf (Girraffe) Terrace is open again, at the bottom of the Eiffel Square Office Building, in the middle of a green park, near a pond with waterfalls. Here, in one of Budapest’s most popular beer gardens, the programme calendar is filled with regular exhibitions, fine arts fairs, Sunday markets, acoustic concerts and DJ performances.
IMMOFINANZ generated net profit of EUR 101.7 million from continuing operations, i.e. excluding Russia, in Q1 2017 (Q1 2016: EUR -139.3 million). Rental income totalled EUR 57.1 million for the reporting period, compared with EUR 58.2 million in Q1 2016. The slight decline of 1.9% resulted primarily from portfolio adjustments involving the retail sector in Austria. After an adjustment for new acquisitions, completions and sales (like-for-like), rental income rose by 3.7% to EUR 49.7 million in the starting quarter of 2017. Results of operations equalled EUR 17.8 million (Q1 2016: EUR 57.2 million). Financial results improved substantially to EUR 93.0 million (Q1 2016: EUR -37.3 million), above all due to positive valuation effects from the investments in CA Immo and BUWOG.
or write to us:
The request could not be sent. Check your connection and try again.
