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| SEB ImmoInvest records new leases in Budapest  SEB Asset Management reported a large number of new leases totalling almost 18,000 m˛ for two portfolio properties in the centre of Budapest for its SEB ImmoInvest open-ended real estate fund. The tenants include various companies belonging to the Hungarian public sector and the auditors PricewaterhouseCoopers. Starting from October 2008, PricewaterhouseCoopers (PwC) will occupy around 10,000 m˛ of office space – approximately 67.5% – of the Office Trade Center, which is located on the Pest side of Budapest. A five-year lease has been signed with PwC, continuing the existing nine-year contractual relationship. PwC intends to invest over EUR 1 million in fitting out the space, underlining the long-term nature of its commitment.In addition, almost 1,100 m˛ of office and retail space in the Office Trade Center has been leased to small and medium-sized companies in recent months. This means that the property, which has belonged to SEB ImmoInvest's portfolio since 1999, has a letting rate of over 75%.New rentals and lease renewals have enabled SEB ImmoInvest to fully let the office building located at Nagymezö Utca 46-48 in the "Pest Broadway" cultural district for the next five years. 90% of the total rental space of approximately 6,800 m˛ is accounted for by four companies belonging to the Hungarian Development Bank. These include Export-Import Bank and the export credit insurance company MEHIB, which together account for more than 5,000 m˛. write your comments about the article :: © 2008 Construction News :: home page |