AutoWallis acquires land for Budapest showroom

Automotive

Listed car seller AutoWallis on Tuesday said it acquired an 18,000 sqm plot in the south of the capital where it plans to open a showroom by 2025, according to a press release sent to the Budapest Business Journal.

The close to 9,000 sqm showroom will have enough space for five brands.

AutoWallis said it plans to finance the nearly HUF 10 billion cost of the showroom with project credit and the issue of a green bond, adding that the investment "will comply with the latest green requirements".

The plot is located in a high-traffic area between Szerémi út and Hunyadi János utca in a "dynamically developing" part of the capital's District XI.

The showroom will be AutoWallis's first on the Buda side of the capital.

AutoWallis investment director Gábor Székely said the company could use the showroom for its existing brands as well as new ones.

Brands represented by AutoWallis include BMW passenger cars and motorcycles, Citroen, Dacia, Isuzu, Jaguar, Land Rover, Maserati, MINI, Nissan, Opel, Peugeot, Renault, Ssangyong, Suzuki, and Toyota.

AutoWallis acquired the plot through its wholly-owned unit AW Property from Strabag Group.

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