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JLL renegotiates Skyscanner’s leasing terms

International travel search portal Skyscanner will continue to operate on 1,000 square meters in the K6 Office Building in Budapest, with its existing lease contract renegotiated by JLL’s office consultancy services, says a press release sent to the Budapest Business Journal.

The lease renegotiation for 1,000 sqm has been successfully concluded and Skyscanner has signed for an additional five years in the K6 Office Building, says the press release.

Skyscanner is an aggregated search engine specializing in travel-related browsing, which can be used to search for flights, hotels, and rental cars, based on time and destination. It offers services in over 30 languages and is among the leading travel search portals.

In 2014, at the launch of its mobile app development center in Hungary, the company selected the K6 Office Building at Astoria in Budapest as the sole location for its expanding Hungarian team.

“It is a great honor and privilege to work together with such a well-recognized online business as Skyscanner,” said Krisztina Major, head of office consultancy services at JLL. “Their existing office already provides ample opportunities for informal collaboration among developers, researchers and product managers. I’m delighted that the owner and the tenant were able to reach an agreement that is to the satisfaction of both parties and may serve as a benchmark for future long-term cooperation.”

“We are very happy that we were able to extend our lease at the same location, since when we moved here we strived to create a work environment to suit our culture,” observed Myra Fulton, director at Skyscanner. “We aim to create an inspiring environment for our colleagues with roomy social areas and a gorgeous sunlit kitchen area at the rooftop level. As quite a few of our employees come to work by bike, location-wise the city center is ideal for us.”

The K6 Office Building was acquired by a Hong Kong private investment fund partnering with Wigan Acquisitions. Gamma Properties acts as the appointed leasing and asset management firm for Wigan and co-investors, while the real estate team of EY Law Firm provided legal representation for the landlord throughout the transaction.

The building is situated at Astoria, in downtown Budapest, at the junction of Kossuth Lajos utca and Károly körút. In 2006, it was completely refurbished and became a modern office building comprising about 1,400 square meters of Grade “A” office space on the ground floor and six upper levels. Currently, K6 operates with 100% occupancy.