BakerStreet's 1st Building Gets Occupancy Permit

Office Market

The first phase of Atenor's BakerStreet project in Budapest has successfully obtained its occupancy permit, according to a press release sent to the Budapest Business Journal.

The "A+” category office complex located in South Buda was planned and built according to the strictest ESG criteria, according to the company. The leasing agreement for the entire building of 16,643 sqm was signed by E.ON Hungaria Group.

Atenor purchased the 5,711 sqm brownfield plot at Hengermalom út 18 in 2019. After the demolition works of the ex-bakery property, the construction of the office building, featuring eight floors, terraces, a ground floor restaurant, four levels of underground garage, as well as an internal garden and passage serving as a social area - started in 2021.

Simultaneously with the commencement of the construction works, Atenor signed an agreement for the purchase of the adjacent plot of 8,326 sqm at Hengermalom út 20, on which the next EU Taxonomy-compliant “A+” category office building with 24,500 sqm leasable area is set to be built as the second phase of the BakerStreet project. Both phases of BakerStreet are ESG-compliant, EU Taxonomy-aligned, Breeam Excellent, and Access4You Gold-certified.

Atenor, the Belgian real estate developer, present in 10 countries in Europe - including Hungary since 2008 -, is known as a leading complex city center developer through developing sustainable office and residential schemes integrating organically into the city landscape with landscaped community spaces and a wide range of services. The company, listed on the Brussels Euronext Stock Exchange, has obtained a CO2-neutrality certificate in 2021. It has also recently achieved great success in green financing through issuing green retail bonds for its investors and was recognized as sector leader, rated with a score of five stars by the Global Real Estate Sustainability Benchmark.

The completed BakerStreet I and also the planned phase II project both designed by Artonic are examples of these values, with modern technologies, sustainable and innovative solutions, and green landscaped gardens and terraces.

"We are proud that from the beginning of the construction works, all deadlines were kept in line with our original schedule and we were able to obtain the occupancy permit before the target date. The fact that BakerStreet I is 100% occupied before its handover obviously proves that there is still serious demand for modern, highly technical, and aesthetic workspaces. BakerStreet, in addition to meeting the highest level of sustainability requirements, will serve the needs of the changed work culture and will also ensure the well-being of the employees conducting business in BakerStreet I,” Norbert Schőmer, country director of Atenor Hungary added.

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