Budapest Bank moves to GTC Metro office building (HU)

Budapest Bank, member of GE Money Bank, signed a pre-lease for almost 17,000 m² office space in GTC Metro, represented exclusively by CB Richard Ellis. The bank will move its new headquarters in 2010 to the building developed by GTC Hungary, which is situated on the so called Váci Business Corridor of Budapest, Hungary.

GTC Metro

Budapest Bank has leased ca. 17,000 m² of office space in GTC Metro.

"We are proud that we could represent the landlord in the first large office deal of 2009," said Adrienne Konthur, Managing Director of CB Richard Ellis. "It was a special privilege for us to work with the CEO of GTC Hungary Real Estate Development Pltd., Robert Snow, who is acknowledged as one of the most experienced leading property professionals of the region."

"In case of a transaction of this scale, tenants think well ahead as these large occupiers are typically coming from the bank or public sector and are planning for long term. This deal reflects the recently growing proportion of pre-leases on the Hungarian market that developers are happy to see as their buildings' income is secured this way. This option is also advantageous for tenants, as developers tend to give incentives in return: hence companies are able to find their optimal office with the most favourable conditions," explained Adrienne Konthur.

Source: CB Richard Ellis

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