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Budapest Waterworks moves headquarters to Blue Cube

Office Market

Real estate investment firm S IMMO Hungary has completed a lease agreement with Fővárosi Vízművek (Budapest Waterworks), under which the latterʼs headquarters are set to occupy more than 60% of the Blue Cube office building.

The deal makes the Budapest Waterworks Blue Cube’s largest tenant, leasing an area of approximately 5,800 square meters, according to a press release sent to the Budapest Business Journal. The company, which is 98.8% owned by Budapest City Council, has been searching for a suitable modern office complex since selling its old premises. The move is expected to take place on August 1, with fit-out works and modifications in progress.

The first quarter also saw StreamNet Kft., a company focused on innovative audio-video technologies in the business environment, signing a lease agreement for space in Blue Cube. Blue Cube’s latest lease contract was concluded with the Lactalis Group, an international milk processing company that is set to move into a 500 sqm space in the building.

The new agreements have pushed the building’s occupancy rate above 90%.

“We are happy to welcome our new tenants in Blue Cube that will surely prove to be a perfect solution for them, no matter what sector they are operating in,” said Géza Barabás, managing director of S IMMO Hungary, Blue Cubeʼs owner. “Due to our major new lease transactions concluded over the past 12 months, only some 400 sqm of space is left for rent,” he added.

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