Cushman & Wakefield has recently merged with DTZ and as a new force in corporate real estate won one of the biggest office property management mandates of the year in Hungary. The new appointment covers the complete operation (property and facility management) of the Swedish Skanska’s new, highly sustainable Nordic Light office building in Budapest.
The landmark, state of art scheme’s first phase with 6,600 sq m GLA is to be delivered in May 2016 with the second phase, comprising 19,600 sq m following in September. The project signs such well known tenants already as Schneider Electric, HARMAN International, and BASF Hungária Kft. and is expected to be 60-70% let by the end of the year.
Cushman & Wakefield will cover the usual daily property management tasks including financial services and technical support. As an added value of the mandate, Cushman and Wakefield will also supervise and control the facility management services through its contracted partners.
Gergely Pados, Head of Cushman & Wakefield in Hungary said: “I am extremely proud of this new, very important mandate which is the first significant office PM appointment since our merger with DTZ. I am thankful to the business development team who, together with our PM experts have put together a highly innovative, outstanding plan and with this have proven our indisputable aptitude and expertise in this field.”
János Szeifert, Associate, Head of Asset Services at Cushman & Wakefield Budapest, commented on the success: “Due to the facility management service provisioning, this appointment is a real milestone in our company’s lifecycle in Hungary. Under the scope of the newly formed Asset Services business line our goal is to widen our service offerings to our Clients - including FM, sustainability or even insurance brokerage. We have been working together with Skanska in various countries within the region, now we are proud to extend this relationship for Hungary with the Nordic Light assignment.”
András Schmidt, Sustainability Manager at Skanska Property Hungary Ltd. added: “We are very pleased that we can secure such a highly professional property management company to service our tenants. Cushman & Wakefield is really keen on starting the work on Nordic Light even before the first tenants move in, to be able to deliver the expected high standards from the beginning.”
Skanska’s Nordic Light office building is located on Budapest’s most rapidly developing Váci corridor office submarket. The building will offer 26,200 sq m of “green" office space on 7 floors and 3 underground parking levels.