JLL, Cushman & Wakefield handle leasing of Liberty Office Building

Office Market

Developer Wing Zrt. has commissioned JLL and Cushman & Wakefield to handle leasing of the 42,000 square-meter Liberty Office Building, located next to the new Magyar Telekom HQ and expected to be delivered in 2021, according to a press release sent to the Budapest Business Journal.

As announced at the end of last year by Wing, the companyʼs next big investment is the Liberty Office Building in the capitalʼs South Pest market in the direct vicinity of the Telekom headquarters. The development features new premium-class offices and commercial areas for those who prefer urban locations. The leasing of the office space is carried out by JLL and Cushman & Wakefield under a joint exclusive mandate.

The office building focuses on environmental awareness and human-centeredness and aims to obtain the BREEAM Very Good qualification, the press release says. Plans include greenhouses with green plants all over the roof and a skybar with panoramic views of Buda. The layout of the eight-floor building will allow the creation of large offices with a floor area of ​​up to 4,800 sqm per level. The building could even be carried out in two stages and is designed to be suitable for one or more companies for headquarters purposes.

The revival of the investment environment in the area is already underway with the involvement of real estate developments and projects such as the Telekom headquarters. There are several ongoing or planned developments: by the end of 2020, the renovation of the M3 metro line and Népliget metro station is expected be completed, while at the same time, Bakáts tér and adjacent Népliget will be renovated.

The Orczy Kert and Nehru Park, already complete, offering a variety of services, will also raise the districtʼs standard. The office building is easily accessible by public transport from the city center, with direct metro and tram connections, while the Népliget long-distance bus station makes it quickly accessible from surrounding towns. The location is also becoming what the press release dubs "The Southern Gate of Budapest" for arrivals from Liszt Ferenc International Airport and the M5.

"It is an honor that our agency can work with such a reputable developer as Wing," says Péter Würsching, JLL Hungaryʼs head of leasing. "Due to the vicinity of the developing district and the Telekom headquarters, the office building is already of great interest and we look forward to our leasing tasks. We are pleased that we can contribute to the development of the Budapest office market by participating in the project, as the delivery of the Liberty Office Building will make the surrounding area of ​​Népliget become a significant office market location."

"We are exceptionally proud that Wing entrusted us with the leasing of the Liberty Office Building," says Tamara Szántó, Cushman & Wakefield Hungary partner and head of office leasing. "We are sure that with our extensive market knowledge and our professionally prepared, dedicated team, we will be able to fill this unique and exceptionally high-quality office development in a short time."

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