BT’S office lease renewal in IP West

In one of the largest transactions of the quarter, global real estate consultant Cushman & Wakefield (C&W) have successfully represented British Telecom (BT), in their office lease renewal on 3,305 sq m and an additional 829 sq m new office space, creating a total leased area of 4,135 sq m at IP West office building owned by CA Immo, one of the leading European real estate developers.

In addition to the 4,135 sq m office space BT has also renewed their contract for 31 parking spaces. Gergely Pados, Head of Office agency at C&W Budapest said: ‘’In light of BT’s committed presence to Budapest, after a rigorous market search it was felt that the flexibility of the landlord and the quality of IP West was the optimum solution for BT.’’ Adam Blazeby Head of Corporate real Estate for EMEA and Latin America at BT commented: “We are extremely happy with the terms we secured and the expansion space at IP West. We look forward to continuing to driving our business forward in Budapest and Hungary.’’ Csilla Vattay Leasing Manager at CA Immo added: “It is great to secure  one of our key anchor tenants at IP West and we look forward to continuing our strong working relationship with BT into the future.’’

IP West, owned by CA Immo, is a “class- A” office building offering 31,600 sqm office space. Characterized by efficient, flexible light spaces, it is a combination of technical standards and unique architectural solutions. The inner gardens, cafeterias, and two restaurants ensure relaxation in a nature-like environment.  It is located at the foot of Rákóczi (former Lágymányosi) bridge on the Buda side, in the 11 district, at the crossing of Budafoki, Dombóvári and Prielle Kornélia street, neighbouring Budapest’s fastest developing innovation and research area and University Campus . It  is well served by public transportation and can be easily accessed by car as well. The neighbouring main roads make the building easy to reach from both the residential green areas and downtown of Buda, along with Pest’s business district. The M0/M1/M7 highways and the Liszt Ferenc International Airport are easily accessible from the building.