Trigranit Appoints Leasing Agents For Westend City Center Offices

14 Jul, 2005, Budapest

Trigránit Development has recently appointed Cushman & Wakefield Healey & Baker and Jones Lang LaSalle as joint leasing agents for the office element of West End City Center.

The office building, which includes 19,000 sq m of class A accommodation currently has 1,100 sq m space available. "It will be our agents' initial task to market this space," says Trigranit's Development Director, Árpád Török.

West End City Center already has an impressive list of tenants, including Philip Morris, Servier, Volvo, Avaya, EMC2 and Vodafone, and prospects for successfully letting the remaining 1,100 sq m look good.

According to Cushman & Wakefield Healey & Baker's latest office market research snapshot, office take up is still at record levels, well above the quarterly average figure for the last 5 years. The Central sub-market, of which West End City Center is part, continues to account for the vast majority of total take up.

The increased confidence in the Budapest office market from both developers and occupiers is underlined by the fact that Vodafone, who occupies 7,000 sqm in West End City Center, has already signed a prelease to relocate their headquarters to Trigranit's latest development, Millennium City Center, a multi-functional scheme on the banks of the Danube which will also include 19,000 sqm of offices.

Vodafone's move in summer 2006 will free up sufficient space for a corporate headquarters in West End City Center. Increased interest from companies looking to upgrade existing office accommodation or move to a more central location, or new companies entering the market are the main targets for Cushman & Wakefield Healey & Baker and Jones Lang LsSalle. Both agents will also make use of their extensive corporate client base.

"Vodafone's move to our Millennium City Center project creates an excellent opportunity for WestEnd City Center," according to Trigranit's Árpad Török. "We will be one of the very few developers who can offer sufficient space for a company headquarters in mid-2006 and we will work closely with our Agents to maximise the potential of this opportunity," he added.

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