TriGranit’s office building on Soroksári Street will be leased by two international agencies
Budapest, 27 February, 2020 – Colliers and CBRE will perform the leasing of Millennium Gardens, TriGranit’s most recent office development located on Soroksári Street. Tenants will be able to enjoy the panorama of the Danube from the building’s exclusive open roof-top terraces. The development with 37,000 sqm GLA situated next to Müpa and the National Theatre will be handed over in the second quarter of 2021 as the last office element among the Millennium promenade office developments.
Millennium Gardens – to be completed in the second quarter of 2021 – will be the newest gem of the South Pest Office Corridor, where roof-top terraces with a view over the Danube will also be constructed. The roof terraces – along with features like the ground-floor garden, the neighbourhood’s cultural opportunities and the closeness of the green area – will guarantee employee satisfaction in the new office building. The building’s two wings will provide a total of 37,000 sqm GLA and nearly 500 parking spaces.
Given the size of the development, TriGranit commissioned two international real estate advisor companies in the framework of a co-exclusive mandate, so the leasing of Millennium Gardens will be jointly performed by Colliers and CBRE.
“The names Colliers and CBRE guarantee that a unique office building like Millennium Gardens presents itself in the office leasing market as a relevant opportunity. Current preliminary contracts and negotiations facilitated by the two agencies support this assumption, too. Based on the tendencies we are witnessing, most of the leasable spaces in the development will find their owners as early as this year” – announced Tom Lisiecki, TriGranit’s Chief Executive Officer.
While designing the building, special attention was paid to the construction of 3,670 sqm levels that are easily dividable and suit the needs of medium-sized and large companies. The building was designed by the FIABCI award-winning FINTA Studio, which took the requirements connected to the “Excellent” BREEAM qualification into account and opted for modern and environmentally friendly architectural solutions.
The spacious garden located on the ground floor of Millennium Gardens will function as an alternative working environment and meeting point, while eating will be possible in a 300-person restaurant. The latter – with its pleasant terrace open in the summer months – will enable guests to enjoy after-work dinners and pre-theatre drinks apart from workday lunches.
The office building on Soroksári Street will be a worthy final element of Millennium City Center, TriGranit’s development vision that has been in the making for more than two decades: following the first projects that started 23 years ago, the area has been transformed into a city district with cultural, business and residential developments, and – apart from the athletics stadium – the construction of a conference centre, a hotel and residential properties is planned for the future as well. Millennium Gardens is the last office development on the bank of the Danube, where dynamic development is facilitated by the infrastructure as well as the captivating panorama. This is also one of the reasons why renowned companies such as Morgan Stanley, Vodafone and Nestlé have chosen the neighbouring Millennium Towers. Nearby opportunities for cultural free-time activities (such as Müpa, the National Theatre or Budapest Park) as well as the proximity of the Danube and the breathtaking view make the building a unique project in the Budapest real estate market. In addition, easily accessible services and facilities – including cafés, restaurants, fast food restaurants, gyms and a health centre – are located in the vicinity of the building. The location of the office building is excellent both in terms of individual and public transport, as four tram lines, several bus lines, two suburban railway lines and even a boat dock are available nearby. The building can be easily accessed from Buda as well through the neighbouring Rákóczi Bridge, while the airport is only a 30-minute drive away. To support sustainable transport solutions, the building will be equipped with electric car charging stations and more than 200 bicycle storage spaces, and tenants will also be able to make use of environmentally friendly changing rooms with showers.
The completion of Millennium Gardens’ structural construction is foreseen for the third quarter of 2020, and the first tenants will be able to move in after the completion of construction works in the second quarter of 2021.
TriGranit operates as a unique real estate development platform in Central Europe, with an unrivalled track-record of acquiring and developing prime and sustainable office and alternative real-estate projects that define the landmarks of the region. In its two decades of operation, TriGranit has developed nearly 50 landmark projects, creating 1.7 million square meters of GLA in seven CEE countries and has won more than 50 highly prestigious international awards. TriGranit is part of the Revetas Group. www.trigranit.com
About CBRE Group
The Los Angeles-based CBRE Group (NYSE: CBRE) is the world’s largest commercial real estate and investment company (based on 2018 revenue), a member of the Fortune 500 list and the S&P 500 index. The company employs more than 90,000 employees (not including subsidiaries) and provides solutions to real estate investors and tenants worldwide in its more than 480 offices (outside of subsidiaries). CBRE offers a wide range of integrated services, including facility, transaction and project management, asset management, investment management, appraisal and valuation, real estate leasing, strategic consulting, real estate sales, and mortgage and development services. CBRE’s Hungarian partners include CPI Property Group, Immofinanz, GTC, NEPI Rockcastle, and clients include MFB, IWG, Aon and Raiffeisen Bank. For more information, please visit http://www.cbre.com
About Colliers International Group Inc.
Colliers International (NASDAQ, TSX: CIGI) is a global market leader in real estate services and investment management. We are present in 68 countries around the world and our team of 14,000 entrepreneurial colleagues work together to provide expert advice and services to property tenants, owners and investors to maximize the value of their property.
Our experienced management team, which owns more than 40 percent of the company stock, has provided the industry with the highest return on investment for more than 20 years. In 2018, corporate revenues were $ 2.8 billion ($ 3.3 billion with affiliates) and assets under management exceeded $ 26 billion.
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