Budapest Offices


Gigantic business park to be built on Váci Avenue

Mar 21st, 2016

2015 was a very successful year for HB Reavis’ Group’s Hungarian subsidiary. HB Reavis is the top developer company in Central Europe, and its first project in Hungary, the Váci Corner Offices has already been named as the country’s most eco-friendly office block. Váci Corner Offices is operating at a 96% rental rate, but HB Reavis doesn’t plan on pulling the breaks: they’re preparing one of the most defining developments for the upcoming years.

The past year was a very memorable chapter in HB Reavis Group’s history, as their own development, Váci Corner Offices has surpassed the 96% rental rate. The building, spanning over an area of 21 150 square metres, has lent nearly all of its offices in a particularly short timeframe. The success is partly a result of the recently made rental contracts signed in December, the new occupants namely being Hungarian Gas Storage Ltd. and Hungarian Gas Trade Ltd., renting an area approximately as big as 2500 square metres for 5 years, on the complex’s 5th and 6th floors.

The office block’s clientele includes prestigious companies like MVM Partner Ltd., General Motors GBS Hungary Ltd., the Hungarian branch of Sony Europe Limited, Intrum Justitia Ltd., Globenet Ltd. and Statlogics Software Development Ltd. (both belonging to Asseco Group), and one of the biggest medical giants, Mylan Ltd. Needless to say, the developing company responsible for the building has also placed its main office here.

Based on their international experiences, HB Reavis aimed to fulfil the future occupants’ expectations by merging the elements of modern and functional architecture, and also by creating a carefully and precisely designed environment. A great indicator of success and contentment on the companies’ part is the fact that MVM and Asseco decided on renting further spaces for its other branches and subsidiaries.

HB Reavis’ dedication to sustainable development is demonstrated by its 78.34% BREAAM rating, falling into the “Excellent” category. Due to this fact, Váci Corner Offices remains the only office block in Hungary that still has belongs to the highest BREAAM sustainability category even after its completion.


Future developments

After successfully finishing their first major project, HB Reavis is already working on the preparations of a new development, which is planned to be built in one of the most frequented areas of the capital, at the intersection of the Váci Corridor and Róbert Károly Boulevard. Approximately 200 000 vehicles cross the junction each day, while the Line 3 of the Budapest Metro also has a station at this location, carrying half a million passengers on a daily basis.

With this new development, encompassing a rental area bigger than 100 000 square metres, HB Reavis intends to start a new era both in commercial real estate development on a larger scale and in workplace design. In addition to premium condition offices, restaurants, cafés, shops and communal areas are meant to make the entirety of the development more desirable and rentable.

The company plans to build the new complex with the highest possible level of environmentally friendly solutions, incorporating the most modern and innovative technologies, with the help of internationally accomplished and local designers such as the multiple award winner, London-based Make, or Finta Studio, responsible for the design of several iconic buildings.

With this grandiose development, HB Beavis’ ultimate goal is to find the balance between work and everyday life, creating a pleasant environment where people can efficiently do their job and equally enjoy themselves (even in their free time). To achieve this balance, the developer group is planning to implement unique architectural solutions, green areas, communal areas (possibly elevating the cityscape), and by providing a space for several services.

“This iconic project is an exciting challenge for us, with which we intend to begin a new era on the country’s office building market. Our team, joined by accomplished architects, is planning to unite the newest inventions of global architecture with Budapest’s own magnificent traditions in a way that not only serves our clients’ growing demands, but also positively influences the everyday life of the community. Construction is expected to begin this summer, while the first building is set to be inaugurated in 2018” – as explained by the executive of HB Reavis Hungary Ltd., Mr. Zoltán Radnóty.




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