S Immo Increases the Occupancy Rate of its Hungarian Portfolio

Published: July 7, 2011; 12:54 · (Vindobona)

The Austrian real estate company’s Hungarian subsidiary leased out nearly 4,000 m² in the heart of Budapest. The vacancy rate was reduced to below 9%.

S Immo Increases the Occupancy Rate of its Hungarian Portfolio / Picture: © Vindobona.org

S Immo Hungary Kft., a subsidiary of the Austrian Sparkassen Immobilien AG, has leased out 3,800 m² of space in Maros utca Business Center to a counseling center. The lease was concluded as part of S Immo Hungary’s asset management activities.

Maros utca Business Center is located in the heart of the Buda side of the city and spans across nearly 6,500 m² of lettable office space. The building has an excellent connection to the road network and to various forms of public transport. With numerous shops and restaurants as well as a park in the immediate vicinity, tenants are guaranteed outstanding infrastructure right nearby.

“This lease means that Maros utca is almost fully let now, which has also substantially increased the occupancy rate of our entire Hungarian portfolio,” said Friedrich Wachernig, Member of the S Immo Board. “With this successful lease, we have reduced our vacancy rate in Budapest to below 9% – considerably better than the Hungarian average of nearly 20%. This success highlights the quality of our portfolio and especially the competence of our asset management.”