Unilever's major office lease renewal
7 Jun, 2010, Budapest, Hungary
Global real estate consultant Cushman & Wakefield (C&W) has successfully represented Unilever, one of the world's largest FMCG companies at their office lease renewal on 5,500 sq m in the Unilever's Headquarter building owned by a Hungarian subsidiary of Sparkassen Immobilien AG in Budapest's 13th district.
At the same time C&W's Project Management Department was appointed to manage the refurbishment works of Unilever's existing office space. The purpose of this was to reduce the space Unilever occupied thereby reducing their real estate overheads. The new layout is predominantly open plan in nature and in line with Unilever?s new Global workplace ethos or the 'Agile Working concept'. It is anticipated that this will increase occupational efficiencies, create a 'green office' and provide for an inspiring working environment.
Gergely Pados, Head of Office agency at C&W's Budapest office said: "We are delighted, that Unilever chose to stay in their long standing building on Váci út. The property benefits from an extremely accessible location, comfortable surroundings and generous car parking facilities, these were important considerations when Unilever decided that they wanted to stay in situ and renew".
Ádám Csikós, Head of Project Management Services at C&W's Budapest office added: "From the Project Management perspective the biggest challenge was to undertake the refurbishment works in an operating office building with minimal disruption to normal everyday office life. This was achieved with an extensive preparation period and the involvement of a design and construction company. The fit out works are on course to complete in June and I am confident that the end result will be an excellent office space which can be an example to any of Unilever?s offices throughout."
Mark Shadrack, Financial Director at Unilever Central Europe commented: "We are extremely happy with C&W's contribution, the aim was achieved based on the long term, close and good cooperation with the landlord Sparkassen Immobilien AG. The end result is better than we anticipated, we have managed to stay in our existing building, where we are very happy, taking on less space and can enjoy the benefit of a modern refurbishment in line with corporate policy and one which will enhance our employees working environment."
Unilever, one of the world's biggest FMCG companies founded 120 years ago, employs about 163,000 people world wide. The firm is present in more than 160 countries with more than 400 brands globally. In 1991 the company entered the Hungarian market. Now it trades with more than 20 brands, employs all together 970 people and operates 3 factories: one in Nyírbátor producing household commodities, cosmetics and chemicals, one in Veszprém producing ice cream and one in Röszke producing foodstuff.
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