Phase 1 of Millennium Gardens Gets Occupancy Permit

Office Market

The first phase of the Millennium Gardens office building, designed by FINTA Studio and developed by TriGranit, has received its occupancy permit, according to a press release sent to the Budapest Business Journal.

The building is the final element of the two-time FIABCI award-winner Millennium City Center project in Budapest. The total leasable area of the north tower is 21,600 square meters, including 18,210 sqm of net office space, 450 sqm of retail space, and green, open common areas on the ground floor.

The building was planned in consideration of sustainability, using modern architectural solutions, in accordance with BREEAM ‘Excellent’, Access4You ‘Gold’ certifications, and outstanding ESG compliance.

Millennium Gardens is opening with above 90% occupancy of the first phase. The official opening of the office building took place on August 12 with the building welcoming Henkel, Fressnapf, Provident, MSD Pharma, bimGroup, HVAC and InsularTech as anchor tenants.   

"It's always a pleasure to open a new office building, but Millennium Gardens is unparalleled for us, as this building is the final element of Millennium City Center. The handover of Millennium Gardens is an outstanding accomplishment from the TriGranit team! I would like to thank Revetas Capital, pan-European real estate investment advisor, for their trust and support in developing this wonderful building in these turbulent times," said Tom Lisiecki, CEO of TriGranit.  

Eric Assimakopoulos, founding partner at Revetas Capital, declares, “ESG matters become an integral part of the firm's DNA in line with our commitment to carbon neutrality by 2040. Millennium Gardens is an exemplary showcase of responsible building standards and reducing the environmental negative impact across our portfolio of assets. We are pleased to see this project come to life and deliver on our promise to our tenants, investors, and to the community, especially during this challenging economic context.”

The nine-floor office building has a green garden on the ground floor, and a unique roof terrace with a panoramic view over the Danube river, which both can serve as an alternative workspace and meeting point, as well as a recreational area for employees and residents. On the ground floor, a 300-seat restaurant with a terrace serves the needs of employees from the upper floors and nearby offices.

According to the press release, the Millennium Gardens office building – as the final element of Millennium City Center – completes TriGranit's vision of a "city within a city" project. The company's "city within a city" project contains numerous cultural institutions, offices, residential buildings, a green park, and a 1.5 km long promenade surrounding the buildings. The location offers four tram lines, several bus lines, and two suburban railway lines passing by the buildings complimented by a small port nearby. In addition, the airport is only a half-hour drive from the Millennium City Center.    

Innovative solutions were adopted during the construction of the project for reducing emissions as well as power consumption during operation, and environmentally friendly materials were used during the building phase. The contractors working at Millennium Gardens were also selected based on their compliance with the HSE requirements and all activities on site have been closely monitored and reported on the corresponding CO2 emissions, the developer says.

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