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Diaego renews office lease

Diageo, the world's leading premium drinks business, represented by global real estate consultant Cushman & Wakefield (C&W) has renewed its office lease on 8,290sqm in West End Business Center (WEBC) owned by AEW Europe, one of the leading European real estate asset and investment managers.

In addition to the 8,290sqm office space Diageo has also renewed their contract for 99 parking spaces.

"After surveying the market and analyzing various alternatives we have managed to secure Diageo a long term lease in WEBC with competitive market conditions,'' Gergely Pados, Head of Office agency at C&W Budapest said.

David C. Carter, Corporate Property Director at Diageo said they were happy with C&W's contribution to the lease renewal in West End Business Center. “We chose to stay in our existing office space since the building meets all our real estate needs and offers a perfect working environment for our 700 employees at an appropriate cost. The extension of the lease also reflects Diageo's ongoing investment and commitment to Hungary," Carter added.

Europe Diageo is one of the biggest and most important tenants of AEW Europe at West End Business Center. “This transaction proves to us that the building is of high quality, competitive and suitable for accommodating major global companies like Diageo," said Isabelle Clerc, Head of Asset Management for Central at AEW Europe.

Westend City Center complex, located at Váci út next to Nyugati station, consists of 3 separate 8 storey-buildings comprises a total of 43,500sqm, including 29,000sqm of high quality offices and a number of ground floor retail units.(BBJ)