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The upgrade of the palace in Budapest finishes
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The modernisation of Krausz Palace on Andrássy Avenue, close to the Hungarian State Opera House, is nearing completion. High-end luxury brands are interested in the building, as well as technology sector companies looking for rental office space in central locations.
Both modern and respectful of heritage
The renovation of the palace has been challenging, but is expected to be completed by the end of January 2023, following a one-year renovation. Thanks to this project, an office building with modern, high-quality retail functions will be created in one of the most attractive neighbourhood of Budapest, the VI district.
The building works included the removal of slabs and the replacement of systems with modern mechanical equipment. Jake Lodge, project director of Avison Young Hungary, told epitesihirek.hu what was involved in creating this modern, high-end office building. He pointed out that they did not shy away from the manual method of choosing materials.
In addition to being able to afford to sell out, they have also been able to ensure the long-term aesthetics of the building on the Budapest real estate market by selecting the best experts. He emphasised that when it came to the careful repositioning of such a prestigious building, they did not compromise.
“Our main task was to preserve the heritage values of the building, such as the frescoes of Károly Lotz and the frontage. We offer future tenants a combination of modernity and historical tradition.”
Suitable for modern businesses
There is a strong interest in the building. Both the office floors and the ground floor retail space are attractive to, for example, embassies, financial and legal advisor and emerging technology companies. Therefore, premium city centre offices similar to Krausz Palace are now in the spotlight for such companies. They benefit from the proximity of the city centre and the prestigious office buildings on Andrássy Avenue.
