Biggeorge plans large mixed-use project in Budapest

04
Apr
2019
News - Biggeorge plans large mixed-use project in Budapest #Biggeorge #Budapest #development #Hungary #mixed-use #residential

by Property Forum | Residential

Local developer Biggeorge Property has unveiled plans for a new city centre development in Budapest’s Óbuda district. The 5 ha project would include 1400 apartments and 10,000 sqm of commercial space upon completion. Handover of the first phase with 257 apartments in three buildings is scheduled for 2010.


As a nod to the previous purpose of the location, embracing the memory of the old Óbudai Szeszgyár factory of alcoholic beverages, Biggeorge plans to preserve and integrate the protected, iconic mill and chimney as featured on the plans. Following the renovation and conversion, the old industrial plant will serve commercial, hospitality and office functions. As part of the walkway starting from Kolosy tér, a promenade across the 50,000 sqm plot will connect the project to Fő tér, the main square of Óbuda within 600 m. Furthermore, even a section of an international cycle path towards Szentendre passes by the area.
 
The buildings were designed by the creators of many high-quality residential and public buildings, in Hajnal Architecture Office, associated with Zsolt Hajnal, Ybl award-winning architect.
 
The buildings will reach higher than most typical residential new builds, featuring 7 and 13 story blocks. The ceiling of each 28-145 sqm apartment gets fitted with a temperature control system, 95% of the properties come with balconies and some even offer the option of direct connection to the garden. All homes are characterised by large glass surfaces and airy, light-filled spaces. In the first phase, a total of 267 properties get constructed in 3 buildings, from 28 sqm studios to 145 sqm penthouses with generously sized balconies. Landlords also get the chance to purchase additional storage space on the parking and living floors.



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New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


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