News
Rebirth of Old Office Buildings in Budapest
Apr 13th, 2016
The previous article introduced some aged office buildings renovated into much-needed office centers and condominium. Due to the renewal and upgrade their occupancy and competitiveness have improved. Now let’s take a look at other developments in Budapest!
The 3,300 sq m office building is located on the most beautiful part of downtown; on the Vörösmarty Square is an elderly historical site, converted into a business complex in 1999. The monument building was built in 1928 and entirely suits the eclectic and romantic architecture of the square. It was worth undertaking the renovation since the area is extremely popular among tenants. In 2013 the entire building was modernized based on contemporary requirements, satisfying the criteria of state-of-the-art technology and tenants’ needs. After that the reception area was renovated harmonizing with the original materials and style of the entrance space. The property representing modernity together with historic listed monuments attract tenants, thus, it was full for last year.
The 10,000 sq. m Blue Cube office building was built in 2002consequently it seemed out of date. Therefore it was completely renewed in 2013, which was so successful that it won the public opinion award for Office Building of the Year in 2013 by iroda.hu, the largest media group for the commercial real estate market in Hungary. The office center with unique design is easily accessible; its main door opens onto Váci Road, which made the modernisation worthwhile. As a part of the repositioning process Blue Cube also received a BREEAM In-Use Very Good classification in the Asset and Building management categories. It has become a real gem in the office market.
The neoclassical building on the prestigious ‘Champs-Élysées of Budapest’, at 100 Andrássy Avenue was originally built as a residence for the Prime Minister in 1890. It later served as a trade union headquarters. The expansion of the building took place at the end of the 1990s. In 2014 the owner decided to restore the neoclassical elements of the Andrássy Avenue part of the building while refurbishing the common spaces of the modern style Aradi street front. The ground floor of the Aradi street front was refurbished with a sleek minimalist design, while the Andrássy Avenue part got a new stylish interior based on the original architectural concept. The Atrium connecting the two parts of the buildings represents the transition from the classical to the modern.
The Duna Office Center Building (DOC) comprising of 20,000 m2 of “A” category office space for rent occupied the first prime position on the popular “Váci Corridor”.
The property was subject to comprehensive refurbishments – including the lobby, the reception area – accomplished in 2014. DOC offers cost effective space for tenants in an era of increasing competition. It has been awarded BREEAM In-Use International certification at the ‘Good’ level.
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