Lindt is expanding further in Budapest
Lindt plans to open a second retail unit in Budapest with JLL as its tenant representative. The international real estate advisory firm assisted the chocolatier Lindt&Sprüngli in the contract negotiation in their new downtown location, which will soon open on the Fashion Street.
The expansion of the Swiss company, Lindt, to Pest came in quick succession to the opening of their first shop at Allee Shopping Center on the Buda side. The Fashion Street venue is the deservedly popular shopping area for tourists, currently strongest in fashion stores, where Lindt will offer its delicacies in roughly 100 sq m of retail space. Lindt’s location provides a prime transition between the surrounding restaurants and hotels and upscale fashion stores.
JLL’s retail leasing department has been helping the Swiss firm from its initial entry to the Hungarian market as its tenant representation advisor. “Due to the current saturation of the retail market, the availability of premium locations is limited, especially if we consider the more risk-averse outlook of the new entrants/ brands to the market. For Lindt, therefore, the Fashion Street location with its current client base, as well as the existing tenant mix, all mitigate the aforementioned risk. In the successful closing of this transaction an additional perk has been the fame of the Lindt brand name, which carries such positive recognition that landlords are eager to welcome it to their tenant portfolio. It is especially gratifying for us that the exclusive mandate that we hold has fulfilled the expectations of the client, hence, we’ve been able to work together for the mutual benefit of both companies for the past year and a half.” – said Éva Sréter, Head of Retail at JLL.
The first Lindt location on the ground floor level at Allee Shopping Center is operating as a brand store. The Boutique concept that had been realized there, enjoys great popularity, and an identical layout will be followed for the new Pest store as well. "Based on the reputation attained in the Hungarian market so far, we are highly optimistic about the success of this second venture. The historic backdrop of the inner city harmonizes well with the cherished traditions of our brand and simultaneously allows a great opportunity to reach the city’s non-Hungarian visitors. The successful opening of our first store gave a solid foundation for further expansion and I am confident that our downtown location will not disappoint our expectations.” – added Máté Balogh, the Hungarian sales director of Lindt.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com