Ringier Publishing moves to Corvin Promenade (HU)

Ringier Publishing, one of the largest publishing houses in Hungary, will move to Corvin Offices II. as a result of a successful exclusive tenant representation of CB Richard Ellis. The company signed a lease contact on more than 6,500 m² and will relocate its headquarters to one of the alone-standing towers of the new office building.

"As the largest publishing group of the country we were looking for a head office that reflects the values and aims of our company: it is modern, nice, offers a wide range of services, easily accessible, large yet personal and a good value-for-money – just like the publications of Ringier," claimed Attila Mihók, Managing Director of Ringier. "Corvin Promenade is the organic part of the renewing city center that will offer a real home for our publishing house. Our colleagues will also be able to find all the services they need here, let is be shopping, entertainment, sport or leisure. Corvin Promenade is an ideal setting for the forthcoming dynamic development of the company."

The transaction was realized with the exclusive tenant representation services of CB Richard Ellis. The property advisor's task included choosing the new head office for Ringier, based on cost efficiency, optimal floor plates and ideal work environment features. After having prepared the throughout study of the property market, CBRE also took part in the HR due diligence of the company; e.g. helping to define the location of the property by taking the employees habits of going to work into consideration.

"During our complete property advisory work we assisted the client in selecting the buildings that matched its requirements, coordinated the technical procedures and conducted the negotiations," said Adrienne Konthur, Managing Director of CB Richard Ellis. "It is an honor to have such a prestigious international publishing house among our pleased clients. We are proud that Ringier achieved considerable savings during the transaction, thanks to the advisory services of CBRE. The new headquarters of the media group mean substantial improvement regarding quality and efficiency compared to its previous working milieu," added Konthur.

Source: CB Richard Ellis

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