by Property Forum | Industrial

A 21,000 sqm logistics park is being built in Biatorbágy, near Budapest, along the M1 highway. The LogiCube Park, developed by Defactoring Zrt., will offer sustainable warehouses along with office space, primarily for small and medium-sized enterprises. The first phase of the project, which represents an investment of HUF 1 billion, will start in November this year and is expected to be handed over in the last quarter of 2022.

The first phase of the 55,000 square meter LogiCube Park will consist of a 2,550 square meter warehouse and associated office space. The park will be built in four phases, with modern and sustainable technical solutions, and will offer areas between 1,000 and 7,500 square meters and Class A office space for rent, as well as internal parking for tenants.

“The project was launched in 2015 as a greenfield investment, with the main initial tasks being the introduction of utilities and the construction of a high-quality access road. During the construction of the park, which is ideal mainly for SMEs, we are applying energy-efficient solutions that include heat-pump mechanical systems, the installation of solar panels and the construction of a green facade for more efficient insulation and a more liveable environment,” said Olivér Nagy, CEO of Defactoring Zrt. “We have already started the lease negotiations, in which 108 Agency is our exclusive partner - we hope that the park with its excellent facilities will be popular among the tenants”.

Construction of the first phase of the logistics park - with a total investment of HUF 8.5 billion -, will start in November 2021 and is expected to be handed over in the fourth quarter of 2022. The development will be ongoing, with the final phase expected to be completed by 2028.

Defactoring Pénzügyi Szolgáltató Zrt. is a family enterprise established in 1994. Its core business is the purchasing and management of bank receivables. Today, the company purchases mostly receivables where the financed transaction or asset can be redefined by the legal and technical rehabilitation of the collateral by e.g. finishing a half-completed property development project or renovating an office building offered as collateral. Currently, Defactoring Zrt. owns and develops several office buildings in Budapest.