Atenor expands BakerStreet, its 2nd office development project in Buda

Office Market

Atenor has signed an agreement relating to the acquisition of another plot in District XI of Budapest, under Hengermalom út 20, with an area of 8,326 sqm, according to a press release sent to the Budapest Business Journal.

The plot is next to Atenor's planned project, BakerStreet, and similarly, an “A+” category office building will be developed on it as Phase II of BakerStreet.

Under Hengermalom út 18, Atenor will soon start the development of BakerStreet with 16,500 sqm leasable space and on this new plot, it will build another “A+” category office building with about 24,500 sqm office area as the second phase of the project – thus expanding the BakerStreet project to a campus. According to the press release, both buildings will deliver environmentally conscious solutions according to the BREEAM “Excellent”  and Access4You “Gold” requirements and will offer underground garages, terraces, and an internal garden between the buildings.

This new site is only 300 meters from Újbuda Shopping Center, 600 meters from the Danube and it enjoys easy access by public transport and by car. Rákóczi Bridge is also situated in the vicinity, meaning that both the southern Pest districts and downtown could be reached in a relatively short time.

With this transaction, Atenor’s currently developed Hungarian portfolio is 128,500 sqm consisiting of three office development projects. Together with the already constructed and sold Váci Greens buildings it is more than 250,000 sqm.

Following this new acquisition, the number of Atenor projects under development has gone up to 31 and represents a development potential of approximately 1,270,000 sqm.  The projects are located in Brussels, Wallonia and Flanders (Belgium), the Hague (Netherlands), Luxembourg, the Paris Region (France), Düsseldorf (Germany), Warsaw (Poland), Lisbon (Portugal), Budapest (Hungary) and Bucharest (Romania).

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