C&W, after a formal and competitive tendering process, has been selected and awarded with the Property Management mandate for the iconic and state of art office building Krisztina Palace (Budapest 12th district), by the owner Union Investment in Budapest, Hungary.
C&W’s Property and Asset Management Department will take over the complex building operational and property management tasks from 1st of July, 2015 from the incumbent Property Manager AIG/Lincoln, who have been managing the building since its handover in 2010. The on-site professional team is currently being finalised and preparation works for the handover have started.
Gergely Pados, Managing Partner at C&W Budapest said: “In such an economically challenging environment with very limited office developments in the past years, this mandate is an outstanding opportunity and we are delighted that Union Investment recognised the added-value C&W could bring to the property.”
János Szeifert Associate, Head of Property and Asset Management at C&W Budapest commented on the success: “It is a great acknowledgement for the Property Management team to have secured such an important mandate on the Budapest office market. Our services go far beyond the conventional scope of running and managing a property. I am extremely confident that with our expertise and in depth knowledge of the market, we will exceed the expectations of the Landlord.”
Harriet Schröder at Union Investment added: “On the back of the strong leasing support C&W have provided us at Krisztina Palace over the last few years, we were impressed by the attention to detail and professionalism that C&W Property Management were offering. We are extremely proud of our flagship office in Budapest and look forward to a seamless hand-over and high quality Property Management service thereafter, which will provide the tenants at Krisztina Palace with a first-class service and allow them to further enjoy their occupation of this fantastic office building.’’
C&W Property and Asset Management team is the market leading real estate consultancy in Hungary dealing with valuable office, retail and industrial properties on 472,000 sq m around the country, including Váci Corner, Aréna Plaza, several retail parks, shopping centres and logistic parks. The asset management team comprises 36 on-site and off-site professionals working for prestigious international and local institutional clients such as , HB Reavis, Resideal, JP Morgan, Lanebridge, and Rockspring. Our services covers the main pillars of the daily management, such as technical facility, financial and tenant relationship management.
Krisztina Palace is located in the heart of Buda and is one of Budapest’s most iconic and modern, Grade A office buildings extending to circa 18,000 sq m and has recently obtained the BREEAM In Use ’Very Good’ rating. C&W has been involved in the lease up process of the project since its construction in 2010 and negotiated leases for such tenants as Emirates, Mazars and Johnson & Johnson. C&W is the exclusive letting agent of Krisztina Palace.