Landmark Success – 7,000 sq m office space leased in November at Eiffel Square which was voted the “Best Office Development of 2010” at the CiJ Awards last week.
Only eight months after opening its doors to the first tenants, ConvergenCE managed to lease more than 70% of Eiffel Square Office Building in the heart of Budapest next to the Nyugati Railway Station.
Four major leases were concluded in November 2010, which all are significantly larger than the current average transactions on the Budapest office market. Magyar Cetelem Bank signed for more than 3,500 square meters, while Agoda International, Asia’s leading and fastest growing online hotel reservation service leases 1,200 square meters. M&C Energy Group, a UK based energy management company signed a lease agreement for more than 1,000 square meters of office space. Grundfos Financial Shared Services not just signed, but already moved into their brand new, 1,500 square meter headquarters.
The street level retail units, such as Costa Coffee, Tesco Express, Pharmacy, BioBolt, Drycleaners 5áSec and the two in-house restaurants, Mix and U26 were all considered as true in house convenience amenities by these new tenants when making their decision to choose Eiffel Square.
Commenting on the current state of exceptional progress of the scheme, Alan A. Vincent, Managing Director of developer ConvergenCE stated: “Eiffel Square has become recognised as the premier new office development downtown. I believe that Eiffel Square is a perfect example that excellent location and high quality product can be successful even in the current market.”
Eiffel Square can still accommodate tenants from 300 m² to 3,000 m².
The majority investor in the development is Europa Fund II. The developers are ConvergenCE and DVM Group and the architect is Antal Fekete of Finta Studio.