Futureal Group sold Budapest’s Skypark office building for 130 million euros

Futureal Group sold its Skypark office building to the OTP Prime Property Investment Fund. The recently closed transaction increased the value of the fund’s property portfolio to over HUF 40 billion. The complex, with 25,000 square meters of GLA, is located at the Corvin Promenade mixed use project in the center of Budapest and was designed to meet the needs of technology and R&D companies.

The construction of Skypark was finished by the end of 2016. Its 25,171 square meters of GLA is complemented by 226 square meters of storage space and a 460-car parking garage. The building is the first element of the eastern closing block of Corvin Promenade, its development started in 2015. Based on innovative solutions, Skypark was designed by the internationally recognised studio Zoboki-Demeter and Associates Architects, winners of the FIABCI audience award. The ground floor houses restaurants, cafés and a kindergarten, the building also includes a 2-storey lobby and a conference center on the first floor. The office complex is entirely occupied by one tenant. The acquisition of Skypark was one of the largest office market transactions over the last 12 months in Budapest.

OTP Real Estate Investment Fund Management Ltd., a leading player in the Hungarian property investment market has launched in January this year the OTP PRIME Property Investment Fund, which aims to invest in category „A” and „A+” real estate properties. The first acquisition of the new fund was the recent purchase of the Váci Greens “B” office building which is located on the Váci corridor. The new fund is primarily recommended for institutional investors and private-bank customers, so they can also profit from the positive trends in the property market.

The ‘A+’ category Skypark achieved BREEAM Very Good certification. Its sustainability features include automated shading technology, which can control the sunshine exposure on demand, electric car charger, a green roof, bicycle parking racks, dressing rooms, showers and energy-efficient mechanical systems. Facilitating efficient, creative work had high priority, when planning the interior design. An urban space was designed in front of the entrance to the office building with a statue, fountain and seating surfaces, where 10-meter high plane trees have been planted. Around Skypark nearly 100 shops, restaurants, cafés, a fitness-wellness center, laundry, post office, bank branches and a cinema can be found.