One of the largest office investment transactions of the recent year was completed
Allianz bought the latest development of WING, the sustainable office building k3 for its new headquarter
2010. February 4.
WING Ltd., one of the largest Hungarian real estate companies, will finish its latest development, the sustainable k3 office building, offering 17,400 square meters of lettable area, tailor-made for Allianz. By signing the contract on the 3rd February, 2010 the Budapest office market witnessed a transaction with a volume rarely seen in the recent year. The office building located on the Könyves Kálmán körút will be handed over end of May, according to the requirements of Allianz. The pricing of the transaction reflects a yield below 7,5%.
Noah M. Steinberg, Chairman and CEO of WING Ltd, the developer of k3 reflected on one of the largest transactions: „The main goal of WING is to create value in financial, functional and architectural terms equally. k3 is a special, high-quality office building representing a great market value even in the current market situation. This is a cost effective, green building with very efficient layout. The recently completed transaction underlines that the market is running and there is a need for good quality at all times and at any circumstances”
Allianz intends to occupy k3 already by the beginning of the summer. With this move the insurance company will unite its offices in several locations within the city and create its new headquarters.
„By choosing k3 Allianz has continued its journey on the “green road” towards being a modern, innovative and environmentally conscious company. During the planning stages one of the main criteria was the efficient use of the solar energy and the collection and alternative application of rainwater also, the environment freindly solutions used such as multifunctional window system and sound insulation. With these solutions the service charges can be decreased while at the same time protecting the environment. Another important aspect was the accessibility of the office building and also to eliminate the unnecessary travelling time and costs within the group by relocating everyone into one building.” – said Péter Kisbenedek, the Chairman &CEO of Allianz Hungária Insurance Ltd.
k3 consists of four towers with an average floor plate of 2300 sqm. The top floor offers direct access to the roof terrace from the offices. The seven storeys are connected with ten elevators out of which two can only be used between the underground parking and the ground floor in order to maximize security and accelerate traffic. The building has a three level underground parking garage offering 360 parking spaces. Its main characteristic is the cost effective operation based on environment conscious solutions. Among its services k3 offers safe storage space and shower with locker rooms for those riding a bike to work. On the ground floor, besides the customer service office, a smaller café and a restaurant will be placed where 300 people can be seated at once. This will create a more enjoyable working environment for everybody working there.
K3 has a great access by public transportation as well as by car or bike. A bike lane just outside the office building enables the sporty employees to get to their work place safe and easy. The Népliget stop for the blue metro line (M3) and trams number 1 and 1/A is just a 3-minute walk from the office building. The international bus station and the Ferihegy airport are also nearby.