A Turkish property investor takes over the building of the former Public Slaughterhouse, learned the Napi.hu. The fate of the protected building is still unknown. The tenants have already begun moving out and could transfer the property to the new owner in late September.
The area of the former Public Slaughterhouse at Soroksári út will be the new residential district of Budapest. There is already a lot of housing development in the capital’s former store-room, but even more constructions are just beginning.
According to Napi.hu, a Turkish company will join the investors soon. The slaughterhouse building and the area belonging to the capital are bought by a Turkish real estate developer, as the current owner, Miklós Ináncsy, vacates the area.
The latter is not an easy task. Although slaughter was stopped in 1984, more than 100 tenants operated in many smaller and larger buildings until recently. The buyer has already paid the advance and the tenants are dismissed. Thus, in theory, the real estate development company already owns the property from the end of September.
From CEO to billionaire
Miklós Ináncsy, the CEO of Meat Wholesale Budapest, sold 5.4 hectares out of the 13 hectares of the former Public Slaughterhouse a couple of years ago. With this transaction in 2011, he got into the 100 richest Hungarian businessmen with 12.1 billion assets. Since then, a Dutch-Israeli company is building in the area. The first phase of the residential park project running under the name Metrodom has already been handed over. They’re currently working on the second building with more than 300 dwellings.
Ináncsy owns 1.6 hectare area now. This is the foundation of the Allure residential park. The owner and his family are managing the investment with a total of 550 apartments. 90 percent of the homes of the first construction period have been sold. It were mostly local residents who bought the real estate, and almost all paid in cash.
The most beautiful part of the area is the former gigantic slaughterhouse that has now been sold. We don’t know about the investor’s plans yet. However, the former stock market is not object of the purchase, which remains property of Ináncsy. There are already ideas for utilizing the 6800 square meter palace listed on a separate land register reference, but the owner has not yet decided.