GTC announces the acquisition of a new development project on Váci út 85 adjacent to GTC Hungary’s already highly successful Center Point Office Buildings. This new project will be entitled Center Point 3 and will add approximately 35,500 sq. m GLA of office and commercial space to the flagship Center Point Office Campus. With this acquisition GTC reinforces its position as the leading developer in the Budapest property market.
The newly acquired plot is located in the Váci Corridor, one of the most dominant office locations close to Budapest’s CBD and currently the largest and most popular office submarket, comprising more than one quarter of the total office building stock in the City.
The project is adjacent to Center Point 1 and 2 and it is the intention to form an enlarged Center Point Campus of approximately 78,000 sq. m, all in one city block. The campus is only 2 minutes walk from two Metro stations and maintains a high visibility profile in a landmark position.
GTC sees this as an opportunity to further increase their ability to retain their existing tenants while satisfying their expansion needs as Center Point 1 and 2 office buildings are continuously fully leased.
“This year we celebrated the opening of GTC White House, which increases the entire Budapest office portfolio to 141,000 sq. m. The acquisition of this land on Váci út 85 will further strengthen our market position and secure further growth in Budapest as one of the most attractive office markets in the region” – said Thomas Kurzmann, GTC’s CEO.