WING announces new office development HOP Passage

Office Market

WING, one of the largest real estate companies in Hungary, is launching a new office development: HOP Passage will be a part of Hungária Office Park (HOP), the complex at the former Siemens site in Hungária körút.

The new building will be next to Gizella LOFT, an office building completed in late 2020. 

According to a press release by the company, HOP Passage will be a new five-story office building with 13,600 sqm of leasable office space and 376 parking spaces in a three-level underground parking garage, which will meet the criteria of the BREEAM Excellence and Acces4you certification systems. The construction phase is scheduled to start in early 2022, and the development is expected to be completed by the end of 2023.

The new development is located at a former Siemens site, a 3 ha lot that has been operating under the name Hungária Office Park since the summer of 2021. The office park is located in a major junction along a key ring road of Hungary's capital, close to both the city center and the Zugló railway station.

Siemens acquired the lot that used to be a phone factory in 1990, and it became the company’s Hungarian headquarters. WING purchased the property in 2018 and started the preparation of the development plans. As the first phase, Gizella LOFT, the tallest building on the site, was renovated and completed on time, tailored to the needs of the tenants, including TÜV Rheinland.

HOP Passage is the next phase of the Hungária Office Park project. After that, three new buildings will be added to the office park and the existing industrial heritage buildings will be reinvented and refurbished in four additional phases. Currently, there are leasable buildings with an area of nearly 40,000 sqm on the lot, and after the construction of new buildings and the environmentally friendly refurbishment of the existing ones, the office park will have a total of 65,000 sqm of leasable office space and approximately 1,000 parking spaces.

The new HOP Passage office building will offer vast, light-filled spaces that are easy to furnish, a wide range of services, and flexible lease terms, the company says.

Leading from Gizella utca to the green park inside the complex, a two-story-high passage will give the building a unique look—and its name. The inner side of the building will have an all-glass façade facing the garden, and the façade from the street will have ribbon windows with shades on the inside, so the interior can get plenty of natural light in a controlled manner. The new complex will have two receptions on the ground floor, which will allow for an arrangement with several tenants, potentially with an exclusive entrance for companies that need it.

The building will have five levels of office space and three additional levels for parking. Two lift cores will have a total of six passenger lifts, fire-fighting lifts, and lifts with access to the parking levels. The underground parking garage will have 20 electric vehicle charging stations and changing rooms with showers for those riding a bike to work. The present ground-level parking places will be moved to a new underground parking garage, and the current parking lot will be converted into a community space with greenery and a pond.

"We decided to launch this large-scale, multi-phase project, the development of Hungária Office Park, as part of WING’s long term development strategy, which aims to create a more liveable urban environment. The concept reinvention and full renovation of this property, once a telephone factory then owned and used partly as an industrial site by Siemens in the 1990s, follows WING’s corporate philosophy, as it repurposes an urban brownfield area with significant history to meet current property market expectations and fills it with new ideas, functions and life," says Noah Steinberg, chairman and CEO of WING.

"In the coming years, a new, eco-friendly complex with a total area of nearly 65,000 sq m will be created on a major property with development potential in Hungária körút: existing buildings will be redeveloped and renovated and new buildings will be constructed, the first phase being the completion of the HOP Passage office building,” he adds.

Norbert Schőmer, WING’s deputy CEO responsible for office development, notes, "We believe in urban locations and in the new Budapest office corridor emerging in Hungária körút, which can provide a competitive alternative to Váci út, which is almost full now. It was on the same ring road where we completed the Allianz headquarters in 2008, the Telekom headquarters and Skylight City, the renovated office building formerly known as Material Center, in 2018, and the Gizella LOFT complex at the end of 2020 – all projects were completed on time and were fully tailored to the needs of the future tenants. 

"Telekom’s HQ, a WING development, is located at the Üllői út/Hungária körút junction, and right next to it Liberty Offices are currently under construction. Hungária Office Park is also in a special area, not only because of its proximity to Hungária körút and Thököly út, which boast outstanding transportation infrastructure, but also its location in the people-oriented, atmospheric Zugló district, making it a particularly appealing site," he concludes.

ADVERTISEMENT

Czech economic confidence weakens in September Analysis

Czech economic confidence weakens in September

Parl't extends pandemic legal provisions Parliament

Parl't extends pandemic legal provisions

Energy Efficiency: End-users, Energy Traders and Other Stake... Inside View

Energy Efficiency: End-users, Energy Traders and Other Stake...

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.