Completion of BSR Center office building brought forward (HU)

A decision has been taken by the developers to bring forward the completion of the BSR Center office building on the popular Váci út corridor. Having previously been planned as a phased development, with timing of the second phase depending upon the success of the first, it has now been announced that towers A+B will be completed in September 2007, with towers C+D only 2 months later in November.

The eight-storey BSR Center will have 21,395 m² of office space - with additional 2,500 m² of ground floor retail space - in four wings, with two underground parking levels, and with upper floor levels providing a number of roof terraces and outdoor green space, an asset highly valued by City tenants. BSR Center is a development of BSR Group and Accession Fund, operated by GLL Real Estate Partners, a joint venture by Generali Group and Lend Lease.

Shaun Jenkinson, Deputy Managing Director of DTZ in Hungary, one of the joint exclusive letting advisors on the project, is confident that the unique assets BSR Center is to provide, including its large frontage, good visibility, excellent accessibility, local amenities and unique flexibility, will attract strong interest, even in a time of increasing supply in the Budapest office market.

"The building's flexible design allows for splitting the accommodation vertically in wings for larger tenants to have their own entrance and prominence. Similarly, each horizontal level of 3,600 up to 3,800 m² can be attractive to efficiency seeking large floor plate tenants, but can also be divided into a number of smaller areas accessible from one of the buildings four lift cores. The decision by our client to move forward with construction as quickly as possible communicates their confidence in the scheme as well the financed bank (HVB) who supported this decision, the location and the Budapest office market, an optimism we share" he explained.

In terms of accessibility, a Metro station is only a short walk away from the office site, while arterial road routes are close by. For employees and clients reaching the offices by car, the complex will house 372 parking spaces in two underground levels.

A large advantage of BSR Center over other Váci corridor projects is the genuine walking distance to Duna Plaza shopping mall with its large range of services and eateries. In addition, Reno Shopping Court and the Tesco hypermarket are also in close proximity.

Source: DTZ Hungary

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