Immofinanz has signed several lease agreements since the beginning of the calendar year 2016 accounting for approximately 40,000 sqm of its Hungarian portfolio. Of this figure, prolongation of leases accounts for more than 25,500 sqm, and new and expanded contracts sum up at 14,500 sqm.
In terms of lease prolongations, the two flagship buildings Globe13 and Haller Gardens have been particularly successful; because of the new leases and extensions Haller Gardens is now almost fully leased. Of the new and expanded contracts, the Globe3 and Arpad Centre office buildings altogether with their seven new tenants are particularly noteworthy, as these two buildings appeal especially to Hungarian SMEs.
Immofinanz believes that one of the factors driving its rental success is the acquisition of BREEAM In-Use certification already awarded to Szépvölgyi Business Park, Greenpoint7 and the Central Business Center, all located in Budapest. BREEAM In-Use has now been awarded to a further two buildings in the Immofinanz portfolio, Haller Gardens and Atrium Park, both of which received the “Very Good” rating.
Immofinanz properties in Hungary represent 7.9% of the company’s total portfolio with a carrying amount of EUR 461.2 million. The standing investment portfolio splits into 12 office buildings (11.3% of the total office portfolio) and 13 retail properties (6.0% of the total retail portfolio).