36% of StefániaPark Office Building Leased Out Before Handover
A Successful Start in the Jewel of Zugló
36% of StefániaPark Office Building Leased Out Before Handover
A Successful Start in the Jewel of Zugló
IVG Hungary's office development in the diplomat district of Zugló, Stefánia Street has made a promising start. The German property development company bought here the building that had accommodated the embassy of the onetime GDR (and later the Embassy of Germany) for decades as of 1964. From the 3rd quarter of 2008, after being heightened by a storey and renovated, the property located between Stefánia Street and Jávor Street, in the neighbourhood of Városliget, will offer an area of about 5,320 m2 to let, with an underground garage and an exclusive inner garden.
The first lease contract was concluded in January already, thus the office building, referred to as "a jewel" in the business, seems to turn out a success right away. The first tenant of the StefániaPark office building is HLB Klient Holding Kft., leasing 36% of the building, and moving in into its office premises in September. HLB Klient Group provides auditing, tax consulting and other accounting services. As the Hungarian representative of HLB International present in over 100 countries in the world, it is primarily engaged in providing business consulting services to multinational companies. With the associates of the law firm working in close cooperation with the Group included, more than 70 associates will move in into the new tenement. Besides the conveniences of a modern office, it is also important to HLB Klient Group that their headquarters will be relocated into the building that has formerly accommodated the German Embassy, since their clients include several reputable German investors. These investors will certainly be rejoiced at being able to negotiate with their consultants within the familiar walls again, be they reconstructed and modernized to meet the highest expectations.
IVG Immobilien AG is one of Europe's largest listed property companies. The focus of our business is on office properties in selected German and European cities. Via our local branch network we currently manage property assets with a total value of more than €19 billion. We carry out our commercial activities in four independent divisions: Investment, Funds, Development and Caverns. Each division operates autonomously on its own markets and with its own strategy. All divisions share one goal: profitable growth. IVG Hungary Kft. is developing primarily office buildings in Budapest, such as Infopark building E, RiverPark offices and StefániaPark office building.
