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News Release

Budapest

With the help of JLL consultancy the occupancy of Central Palace has reached 100 percent


In the first quarter of 2018 one of the significant deals of JLL's office leasing division was the leasing agreement with MITO advertising agency who is moving to 3,000 square meters in Central Palace, whereby JLL represented the landlord Kuantum Kft. The advertising agency will occupy its new office in Q3 2018.

Central Palace, an office building of 3,500 square meters, is located in the Central Business District office submarket, in the heart of the city. The occupacy rate of the submarket is high, currently standing at 94%. This also shows that demand is high in the area, MITO advertising agency also chose the building because of the location's partculary good public transport and the surrounding area's positive, vibrant atmosphere.

Dr. Péter Würsching, Head of Office Group at JLL said: "I am satisfied with the work of our leasing team, and I'm especially proud that after having received the leasing mandate of Central Palace we could achieve 100% occupacy within a very short time. The expertise of our agency team and the accurate knowledge of the office market made this success possible."

The office building is located at the busy Ferenciek Square, and it is easily accessible by public transport. The historic building was built in 1887 and completely renovated in 2000, which created modern offices in the upper floors. In 2017 there was a recent upgrade to guarantee that tenants' changing needs are fully met by the building. After MITO will have moved in, Central Palace will be completely occupied.