Budapest Offices


What will become of Bem Palace?

Jun 20th, 2016

On June 2nd, 2016, the Government Office of the Capital City Budapest and its Department of Cultural Heritage, part of the Major Department of Architecture and Cultural Heritage, Authority, Education and Legal Control, as the inspection body, has withdrawn the building consent regarding Bem Palace Project, issued in September 2010 by the Central-Hungarian office of the National Office of Cultural Heritage. HB Reavis Group has immediately stopped the ongoing demolition works after receiving the order.

The company purchased the project this April with the knowledge of the construction authority’s confirming official information, which was also sent to the seller, Europa Real Estate Investment Fund. HB Reavis Group is currently examining the situation and is ready to take the necessary measures.

HB Reavis Group has bought the Bem Palace Project from Europa Real Estate Investment Fund in April 2016. The seller has been doing construction and demolition work since September 2012, having its valid building consent. Before signing the contract of sale, HB Reavis Group asked the seller to acquire confirming information regarding the validity of the consent from the assigned building authority, the Government Office of the Capital City Budapest and its Department of Architecture and Cultural Heritage.

The building authority has declared in a letter on February 23rd, 2016 that, according to the legally binding and enforceable permit, the occupancy permit for Bem Palace Project should be applied for until the 17th of September, 2017. The same authority has issued a decree on the 25th of May, 2016 about HB Reavis becoming the legal successor of the building consent and the exerciser of the construction rights.

Compared to all the information above, in its current decree the inspection body has withdrawn the decree issued six years ago by its very own primary architectural authority, citing legal violation as a reason. The decision comes nearly four years after the owner at the time begun the demolition works. The authorisation process carried out by the National Office of Cultural Heritage was preceded by an extensive process of professional approval, during which the Monument Planning Board and the Central Planning board, with the recommendation of the Chief Government Architect, have submitted the plan for approval, emphasising that it has been elaborated with consideration regarding the monumental values under protection.



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