The level of new completion in Q2 was 115,390 sqm in Greater Budapest and 47,260 sqm in Regional Hungary. HelloParks in Fót marked the largest new completion with 45,350 sqm and VGP Park Győr Beta has expanded by 10,000 sqm, Budapest Research Forum (BRF) reports.
The lowest vacancy was registered in North Buda with a 4.4% rate, whereas the highest rate remained in the Periphery submarket (31.4%). Net absorption has remained positive by the end of the second quarter, amounting to 33,720 sqm, Budapest Research Forum (BRF) reports.
Panattoni has started construction of a speculative 17,300 sqm last-mile logistics warehouse project in Törökbálint, about 12 kilometres from Budapest's city centre. The launch of Panattoni Park Budapest City West follows the company’s market debut in Hungary in 2021 with the acquisition of two land sites totalling 100,000 sqm near the capital.
Avison Young successfully mediated the disposal of two architecturally significant assets in Budapest's CBD on behalf of a US family office to local development company WING. Both are fully leased on a long-term basis.
Latvia-based Mogotel Hotel Group is the largest hotel operator in the Baltics and it continues to expand outside the region, having recently entered the Hungarian market. Development Director Ivans Dokicians unveiled the company’s ambitions and plans in Hungary and the whole of Europe in an interview for Property Forum.
E.ON Hungária Zrt., the Hungarian unit of the E.ON Group has decided to move its Budapest site to BakerStreet, developed by Atenor Hungary. E.ON will occupy their new Hungarian headquarters from the second quarter of 2024 on 16,200 sqm, in the first phase of the new office campus.
After nearly 5 years at CTP, Dávid Huszlicska decided to turn the page and start a new chapter by co-founding with Dániel Szélesi and Gábor Móró a new player in the Hungarian industrial RE market: Greenfield Development & Advisory.
Thanks to new and extended leases, myhive Atrium Park, located on Váci út, has leased its entire 31,200 sqm office space. New services have been introduced and interiors have been renewed at the office building.
Edina Magó will step up as Marketing Director and Nikoletta Ispánki will join the company as Commercial Director. The new appointments will strengthen the focus to enhance the growing markets.
The hotel will be erected on Hungaria Boulevard and is an investment of Europa Investment Property, which belongs to the Premiot investment group, Építészfórum reports.
Newmark Polska, a commercial real estate advisory firm, has relocated its Warsaw headquarters. Its new office is located in Centrum Marszałkowska in the very centre of Warsaw.
The office of the European Shared Service Centre of the Franke brand, a manufacturer of home and professional kitchen equipment, is moving to the myhive Nimbus building on Jerozolimskie Avenue in Warsaw, owned by Immofinanz. The contract, brokered by ITRA Polska, is for the lease of 1,500 sqm of office space.
At the beginning of July the Warsaw team of EPP company moved to Park Rozwoju office park and will occupy approximately 1,200 sqm on the 6th floor in Building B. EPP is both the owner and the manager of the complex.
New appointments
Karol Milczarski has joined the ranks of Colliers Poland experts, taking up the position of Senior Associate in the Commercial Space Department. His main task is to comprehensively support clients in the process of acquiring attractive street locations not only on high streets, but also within densely populated residential districts.
Danubius Hotels has appointed Andrea Róna as Group Director of Development. She has decades of experience in hotel management and development as well as asset management. The expert will be responsible for the further expansion and development of the hotel chain.
Cushman & Wakefield promotes Petr Markvart, Head of Landlord Representation Services in the Office Agency team, to Partner.
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