GTC Hungary, the leading international office developer in Budapest, has completed its latest office building in the capital. The GTC White House is a brand new A-class office building of 21,500 sq. m. The state-of-the-art project features exhilarating, uplifting green architecture, including an entirely refurbished turn-of-the-century stand-alone loft building of 2,000 sq. m. The GTC White House has been awarded LEED Gold precertification, which is one of the world’s most prestigious international environmental certification.
GTC White House
The GTC White House office building is built on the site of former elevator factory located in the Váci Road office corridor. The project was launched in June 2016 in this important and popular location in Budapest. The development has a unique atmosphere by mixing the important past with a forward thinking future and is well received on the market and popular with tenants. The site includes part of the 100-year-old former Schlick Elevator Factory which has been entirely refurbished and now offers an impressive 2,000 sq. m loft office space, and 19,500 sq. m of new premium quality offices. The buildings are just a few minutes away from two metro stations and tram line No. 1, has its own garage for nearly 300 vehicles, electric car charging, car wash, several hundred bike racks with shower and changing facilities. Other facilities, include a play room, a conference suite, a post office and a new restaurant and coffee bar concept for the convenience of the tenants.
The environmentally friendly solutions, efficiency and stunning architecture has been the integral element of the architectural concept of GTC White House. The architect of the new complex is Ybl Prize winner Zoltán Tima of Kozti, who has been responsible for the design of large scale residential and office projects, as well as landmark projects such as Kossuth ter and the new extensions of Budapest Liszt Ferenc Airport. The General Contractor on the building is Swietelsky, Hungary and project financing is arranged through Raiffeisen Bank, Hungary.
The green roof, reuse of harvested rainwater, efficient insulation, and windows covered with a light-reflecting foil all serve to reduce energy consumption and make a sustainable building in the heart of the city. As a result of this approach, GTC White House has been awarded LEED Gold precertification. Buildings that have won LEED certification are not only environment-friendly, but their business prestige is also outstanding: the 100 largest companies listed by Fortune magazine, 88 operate from LEED-certified offices.
The recently completed GTC White House already has leased a significant part of the offices and the rest of the building has signed terms or is under offer. The first tenant: BlackRock, the world’s largest asset manager will take their first occupancy in July 2018. BlackRock chose Hungary and GTC White House as a permanent home for their Innovation and Technology Centre in Budapest.
GTC have signed terms for a further two floors of the new office area and is currently engaging in serious negotiations for the remaining vacant space with world class tenants, which predicts the possibility that the building will be 100% occupied by Q3 2018.
Besides the completed new office, GTC Hungary has two other ongoing office real estate projects. Both of which are located in the 13th district in Budapest, which is rapidly becoming the new business quarter of the capital. The Twist – Budapest City Tower will be a 23 Floor tower of 37,000 sq. m of leasable offices. The project will commence by July 2018 and is promising to be one of the most spectacular office buildings in the capital.
GTC Hungary’s other significant project; Pillar will offer 29,000 sq. m over 7 floors, is in a highly visible landmark location also in 13th District. Construction is expected to commence in Q3 2018. Both these new office projects will offer coffee shops, juice bar, restaurants, co-working spaces, bank and ATM, bike facilities, shopping, conference centre and many more features for the future tenants, creating real value in the Hungarian real estate market.
GTC’s portfolio in Hungary
With GTC White House, the Hungarian affiliate of the region’s leading commercial real estate developer GTC, extends its entire domestic office portfolio to 141,000 sq. m. GTC Hungary also owns and manages Budapest’s presently tallest office building; Duna Tower, Center Point Office, the capital largest office centre, GTC Metro and Spirál – all fully leased.