Wing launches Gizella Loft office project

Office Market

Developer Wing Zrt. has announced the launch of the Gizella Loft, a brand-new office project at Siemensʼ Gizella út site acquired last year, with the 8,500 square-meter project set to offer modern, human-focused offices for potential tenants from the end of 2019, says a press release sent to the Budapest Business Journal.

An aerial photograph of the site.

According to the companyʼs plans, the three-hectare real estate complex at Gizella út, a site bought from - and partly leased back to - Siemens at the end of last year, will be renovated in multiple stages. The announced development will involve the renovation of the complexʼs central, tallest building. Located at a main transport hub, the site is easily accessible from both Gizella út and Hungária körút, as multiple buses and tram line 1 all have stops nearby.

"We believe that on the Hungária ring [körút], especially in its large hubs, a new Budapest office corridor is starting to emerge, hence the location of the plot offers significant real estate development and utilization potential," said Wing Chairman-CEO Noah Steinberg. "Last year, we delivered the Telekom headquarters on the körút, launched our Liberty office development next to it, and on the northern part we have just finished the fully let Skylight City office building, the ex-Material Center."

Due to its large windows and high ceiling height, the building offers spacious room for the development of loft offices. Wing says that while the building is ideal for smaller offices, it is also a suitable location for a company headquarters.

Gizella Loft, in the center of the Budapest district of Zugló, will feature e-car chargers, bicycle storage facilities and showers, and Wi-Fi access. The building is also set to offer a large, green interior park and a street workout space.

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