Budapest office building to get new makeover

08
Mar
2021
News - Budapest office building to get new makeover #Budapest #DVM #Horizon #Hungary #office #renovation

by Property Forum | Office

The Park Atrium office building in Budapest will be given a new look. As part of the reconstruction, the functions of the public spaces will be optimized according to new land-use principles and fresh design ideas, the ground floor lobby, the reception space, the conference centre and the community garden will be renewed. A new café overlooking the City Park will also be opened. The works will be completed this spring.


The owner of the property – a Luxembourg-based fund managed by REInvest Asset Management S.A. - started planning significant external and internal development as early as 2020, which also provided an opportunity to introduce new building functions and services. Hungarian company DVM Group was chosen to execute the complex design & build assignment.

"The clear goal of the major technical and design changes is to bring the office building into line with current trends in health, safety, aesthetics and functionality,” says Kata Mazsaroff, Director of Leasing at Horizon Development.

The 8-storey Park Atrium office building, originally built in 2004, consisting of 4 towers, offers 23,400 sqm of gross leasable area for both office and retail use. The renovated ground floor spaces of the property will be handed over in Q1 2021.




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  • Astellas Pharma has renegotiated its lease for offices at One Floreasca Bucharest in a deal brokered by Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate.
  • Czech furniture industry supplier Hranipex, a provider of edge banding, adhesives, cleaning products, and accessories, has leased nearly 3,000 sqm of warehouse space at CTPark Bucharest South. The company has relocated its operations to the new facility and is currently fully operational within the park.
  • Oracle has renewed its lease for 600 sqm of office space in Belgrade, in a deal brokered by iO Partners.

New appointments

  • PSN has expanded its acquisitions team with the arrival of Martin Šrytr as Business Development Manager. Most recently, he served as Real Estate Expansion Manager at Twistcafe Group, supporting the company’s EMEA growth. His previous experience includes consulting at Cushman & Wakefield, advisory roles at Prochazka & Partners, and management positions within IWG.
  • iO Partners has announced key leadership changes within its Czech Republic operations as part of its ongoing business evolution. Milan Kilik has been appointed as the new Head of Office Leasing, with a particular focus on client advisory and team collaboration. Concurrently, Petr Kareš has transitioned into the role of Occupier Business Development Director. In this new capacity, he will be responsible for identifying new market opportunities and integrating services across Tenant Representation, Project Management, and Industrial Leasing.
  • Romanian office developer Genesis Property has appointed Cătălin Niculiță as Leasing Manager. With nearly 20 years of experience in the real estate industry, he has held leadership roles at real estate companies such as Atenor, collaborating with major office tenants in the banking, telecom, and IT sectors.


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