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Vodafone, Budapest

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The Challenge

C&W have represented Vodafone Hungary on an exclusive basis since 2009. In this time we have re-geared their leases at Millennium I (Hungarian HQ) and Arena corner twice each. Working in partnership with Vodafone we have secured Vodafone's long term real estate strategy in Budapest and Hungary. The project included C&W surveying the market for suitable BtS solutions for Vodafone while also negotiating with the existing landlord. Vodafone had a clear goal in achieving occupational cost saving, while maintaining their commitment of providing high quality office accommodation for their employees.

The Solution

C&W undertook a full location analysis and together with Vodafone selected 3 buildings out of nearly 50 alternatives that were examined in great detail parallel with their existing office accommodation.  Detailed technical and commercial analysis was prepared for Vodafone to facilitate the decision making by making clear recommendation.

Solution: Millennium I Tower (circa 10,000 sqm)

The Results

Cushman and Wakefield’s targeted approach resulted in achieving considerable cost saving for Vodafone 24 months prior to their original lease expiry. On top of this Cushman & Wakefield secured considerable fit-out contribution that will allow Vodafone to upgrade their premise. In return Vodafone extended their lease 10,000 sq m in Millennium Tower I on a long term contract.