myhive Atrium Park office complex is located in the 13th district Budapest, Váci Road 45. The building is one of the most determining developments on the real estate market due to its exclusive appearance and technical contents. The complex is being built up on a 61 400 sqm territory with 31 200 sqm office space. Beside office functions retail spaces, conference and fitness room were built on the ground floor of the building. The basic concept of the development: myhive Átrium Park is not only a place for office work, it offers much more than that with its additional functions (restaurant, café, shops, conference room, storage spaces, fitness room, gardens, fountains).myhive Átrium Park provides its tenants enjoyable living environment and unique atmosphere. 733 cars can be parked in the garage connected to the office towers.
Nearly two years have been passed since the opening of the first office building in Hungary under the brand myhive – IMMOFINANZ’ international office concept. Since then, the concept has already covered five Budapest office buildings of IMMOFINANZ, with a total of 113 000 sqm of leasable space and 56 tenants employing 7,500 people.
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.
Park Atrium - the iconic headquarters building leased to Deloitte, ING and Roche - was sold last week in what represents one of the most significant recent transactions for the Budapest office investment market.
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