C&W, Eston to lease BudaPart offices
International real estate advisors Cushman & Wakefield and Eston International have been trusted with the leasing of Budapest’s newest and largest mixed-use development BudaPart, South Buda’s new quarter beside the Danube at Kopaszi gát, according to a press statement sent to the Budapest Business Journal.
The two agencies will co-exclusively work together on the leasing of the BudaPart office buildings, a project being built at the Lágymányosi-öböl, a triangular-shaped bay separated from the river Danube by the Kopaszi gát barrier.
Upon completion, the project will comprise 300,000 square meters of office space, 200 apartments per phase, and supporting retail areas. The developer, Property Market, is now finalizing the plans of several office buildings, with delivery of the first phase expected in 2018.
“We are thrilled to be working together with Cushman & Wakefield and Eston International on the project,” said Gergely Árendás, CEO of Property Market. “The vicinity of the waterfront, and location in one of the most sought-after office sub-markets, makes the BudaPart project inevitably unique. The residential areas, accompanied by outstanding infrastructure and surrounded by the multi-phase, high-quality Danube view offices, is attractive for future tenants and employees.”
“We are extremely proud that Property Market entrusted us with the leasing of BudaPart,” said Gergely Pados, Managing Partner at Cushman & Wakefield in Hungary. “The completion of BudaPart will double the South Buda sub-market’s office space, which is much needed as the vacancy rate is at its lowest in 19 years, standing at 4.7% with continuously rising demand. BudaPart will completely transform this currently unused 133-acre area into a dynamic, popular urban district. We are confident that our market knowledge and expertise will help us to quickly lease this unique development.”
“We look forward to working on the BudaPart project,” added Adorján Salamon, Managing Director at Eston International. “Being familiar with Property Market’s objective, the buildingsʼ technical specifications and design will offer unrivaled office solutions for future tenants. Our committed office leasing team enthusiastically awaits the start of this fantastic mandate.”
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.