Cushman & Wakefield Healey & Baker (C&W/H&B) advised BAA plc, the worlds leading airport company, on the real estate aspects of its successful acquisition of Budapest Airport. C&W/H&B carried out due diligence for BAA during the bidding process, advising on the development potential of the site, particularly with regard to Logistics, Air Cargo, Office and Hotel development.
Professionals from C&W/H&Bs Budapest office, as well as the firms European headquarters in London, were involved in the process.
C&W/H&Bs role with BAA is envisaged to last for the next 5-10 years, as the worlds largest airport operator transforms Budapest airport into an important regional hub.
Budapest Airport has incredibly strong and as yet untapped development potential. BAA will use best practice from the other 11 airports they operate across the world to transform Budapest Airport into Central Europes main airport hub, says Ward Stocker, Partner at C&W/H&B in Budapest, who provided analysis of the logistics and office development potential of the site for BAA.
We are delighted that BAA has successfully purchased Budapest Airport, and look forward to working with them in the coming years. This is a landmark transaction which we are proud to be associated with, said Charles Taylor, Partner and managing director of C&W/H&Bs Budapest office.
BAA plc has acquired Budapest Airport for 1.255 billion. This gives BAA full operational and strategic control regarding the future development of the Airport. The acquisition includes 75%, minus 1 share, of Budapest Airport Rt; 100% of the 75-year asset management contract for Budapest Airport; and the associated moveable assets.