SOUTH-PEST BUSINESS PARK TO EXPAND
The construction of two new halls has begun at the South-Pest Business Park, on an area of close to 14,000 square meters. This is the sole city logistics park to receive bank financing for expansion this year and the go-ahead to launch construction in possession of signed lease contracts.
Very few warehouse halls or industrial developments are currently being built in Hungary. The South-Pest Business Park represents an exception because it offers cost-efficient buildings geared to today’s market demands. In addition, its popularity is assured by its location close to downtown, good transport links, the outstanding quality of its facilities and individual solutions tailored to individual requirements. The centre is suitable for distribution, wholesale and production purposes alike, besides offering high-quality office space for corporate head offices. Its developer is the stable and well-capitalized WING, a leading player on the domestic market with extensive experience in the construction of commercial real estate and purpose-built buildings.
The first hall will be custom built, taking the needs of tenants fully into account. Tenants include the subsidiary of Dutch company GrandVision B.V., F-O Optika Foto Kft, a leading optical retail concern in the Central and East European region and market leader in Hungary. The company will operate its new central and regional spectacle manufacturing workshop and storage base on an area of 1,800 square metres.
The new leaseholds will be handed over in the second half of the year. The exhibiting agency was Cushman & Wakefield, the financer UniCredit Bank, and the main contractor Market Építő.
With the completion of the new extensions, the centre will attain its full state of development. In excess of 92% of the total area of 44,000 square metres is continually leased. Negotiations with a number of potential tenants are presently at an advanced stage in respect of the buildings under development.