BT's office lease renewal in IP West (HU)

In one of the largest transactions of the quarter, global real estate consultant Cushman & Wakefield have successfully represented British Telecom (BT), in their office lease renewal on 3,305 m² and an additional 829 m² new office space, creating a total leased area of 4,135 m² at IP West office building owned by CA Immo, one of the leading European real estate developers.

In addition to the 4,135 m² office space BT has also renewed their contract for 31 parking spaces.

Gergely Pados, Head of Office agency at C&W Budapest, said: "In light of BT's committed presence to Budapest, after a rigorous market search it was felt that the flexibility of the landlord and the quality of IP West was the optimum solution for BT."

Adam Blazeby, Head of Corporate Real Estate for EMEA and Latin America at BT, commented: "We are extremely happy with the terms we secured and the expansion space at IP West. We look forward to continuing to driving our business forward in Budapest and Hungary."

Csilla Vattay, Leasing Manager at CA Immo, added: "It is great to secure one of our key anchor tenants at IP West and we look forward to continuing our strong working relationship with BT into the future."

IP West, owned by CA Immo, is a class-A office building offering 31,600 m² office space. Characterized by efficient, flexible light spaces, it is a combination of technical standards and unique architectural solutions. The inner gardens, cafeterias, and two restaurants ensure relaxation in a nature-like environment.

It is located at the foot of Rákóczi (former Lágymányosi) bridge on the Buda side, in the 11 district, at the crossing of Budafoki, Dombóvári and Prielle Kornélia street, neighboring Budapest's fastest developing innovation and research area and University Campus. It is well served by public transportation and can be easily accessed by car as well.

The neighboring main roads make the building easy to reach from both the residential green areas and downtown of Buda, along with Pest's business district. The M0/M1/M7 highways and the Liszt Ferenc International Airport are easily accessible from the building.

Source: Cushman & Wakefield

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