News, analysis and lease transactions from the Hungarian office market
New Work Serviced Offices recently finalized one of the most remarkable market transactions on December 6 - just a few hours after business meeting has began. The prestigious Lapland based company deals with logistics, package sending and charitable activities. Its subsidiary signed for a significant office space area at Anker Business Center operated by New Work Serviced Offices.
During the Q1-Q3 2016 period the total commercial real estate investment transaction volume reached some €1.5 billion in Hungary, nearly double the 2015 total volume, a testimony to the sharp liquidity increase – according to JLL Hungary’s latest statistics.
JLL has been awarded the „Investment deal of the year 2016” by Portfolio.hu during the annual Property Investment Forum real estate conference. This is the third consecutive year that JLL receives the coveted award.
GLL acquired the multipurpose heritage building that combines retail-, office- and service functions on 13,750 sqm at Vörösmarty Square, the most prominent downtown location of Budapest. The Seller of the recently completed UNESCO World Heritage listed premium asset is the Hungarian development company behind the building’s complete rejuvenation and successful leasing: Horizon Development.
Millennials are at the forefront of using technology and it is reshaping the way they shop. However, contrary to expectations, 70% of Millennials prefer to shop in a store instead of online and this is unlikely to dramatically change in the future, according to new research from CBRE, the global property advisor.
Péter Szijjártó, Minister for Foreign Affairs, was guest of honour at the foundation stone laying ceremony held on 15 November at the site of the Magyar Telekom headquarters building, which is being built in a proprietary investment by WING Zrt. The event was also attended by Noah Steinberg, chairman and CEO of the developer WING Zrt, and Christopher Mattheisen, CEO of Magyar Telekom Nyrt.
IMMOFINANZ is continuing the expansion of its successful STOP SHOP retail park portfolio with the acquisition of eight locations in Slovakia and Hungary. The purchase price for these properties totals approx. EUR 79.0 million. The newly acquired retail parks have an occupancy rate of roughly 98% and generate annual rental income of approx. EUR 6.6 million.
In October 2016, 600 employees of E.ON Hungária Zrt. successfully finished moving into the V17 office building, Váci út. Furthermore, this has been the largest tenant move in the Budapest office market this year so far.
or write to us:
The request could not be sent. Check your connection and try again.
