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Nestlé to sell prime property in Budapest

Nestlé has decided to sell a 2,500-square-meter property in Budapest with a panoramic view of the Buda Castle, the Chain Bridge and the Pest skyline.

Nestlé is selling the property after deciding to integrate its business units in Hungary. It has commissioned Cushman and Wakefield for the transaction.

The building would have to be renovated if it is to become A-category office space, or it could be converted into homes or a hotel, the website of business daily Napi Gazdaság reported on Wednesday.

The nearby 175-room Novotel Danube was converted from an office building at a cost of Ft 4.5 billion in 2006. (MTI – Econews)