City View Tower, 100% subsidiary of Atenor, Belgian developer listed on Nyse-Euronext, announces that the first Váci Greens building will be delivered in May 2013. The completion of the scheme was purposefully postponed as Atenor elected to increase the total floor area of the building by increasing the leasable area by an additional 1,300 m² on the top floor. Váci Greens will now extend to a total GLA of 15,692 m² over ground floor and six upper levels.
The Váci Corridor's popularity is linked to its excellent accessibility from the city center.
The construction is financed directly by Atenor which secured €150 million long term financing on the market and is therefore not dependent on bank financing for the completion of its ongoing developments, totalling over 650,000 m² in Belgium, Luxembourg, Romania and Hungary.
This grade-A office building is located on Budapest's most popular Váci Corridor office submarket and is already certified as a BREEAM 'Excellent' building, the first ever in Budapest. With efficient large floorplates it offers state of the art flexible workplaces with attractive rental terms and reduced operating costs.
The Váci Corridor remains one of the most sought-after locations on the Budapest market. With Váci Greens completion there is a real opportunity for tenants, as not only will Váci Greens be the only Váci Corridor building completing in 2013, it will be the only new office building completing in the entire of Budapest in 2013.
The Váci Corridor's popularity is linked to its excellent accessibility from the city center, coupled with its extremely competitive pricing levels. Historically, the Váci Corridor has proved extremely popular to large corporate tenants looking for efficiency, cost savings and easy access.
Zoltán Borbély, Project Director at Atenor added: "After thoroughly reviewing the market conditions, we felt that given the continued and future demand for good quality Váci Corridor offices, the best strategy was to secure additional floor space. The Váci Corridor continues to be one of Budapest's most popular destinations, and we will provide an excellent addition to this submarket with the first of our Váci Greens buildings."
Gergely Pados Partner, Head of office Agency at Cushman & Wakefield Budapest said: "We are confident that Váci Greens will be one of the most desirable and sought after office buildings in Budapest once it is delivered early 2013. The timing of the buildings delivery also provides Atenor with a unique Window of Opportunity, where no other building will be delivered to the market."
Erika Loska, Head of Office Agency at Jones Lang LaSalle Budapest commented "The Váci Corridor will continue to prove popular to tenants, and with the extra floor area at Váci Greens, coupled with its efficient floorplate design and desirable qualities can only serve to attract high calibre tenants to the property."
Cushman & Wakefield & Jones Lang LaSalle are the co-exclusive letting agents of the building.
The 15,692 m² Váci Greens A category office building is located on the Váci street along the M3 metro line between th