10 Jul 2023

M7 agrees long term lease renewal at Terra Park in Budapest, Hungary

M7 Real Estate, the pan-European investor and asset manager specialising in multi-tenanted properties, announces that it has secured a long-term lease extension with the occupier of Terra Park, an office building in Budapest.

The occupier has agreed to a nine-year lease for the space, which comprises c. 1,041 sq m of office space, 118 sq m of storage, and 29 parking spaces.

M7’s Hungarian team has undertaken extensive renovations tailored to the occupier’s specific requirements. To promote sustainability, energy-efficient LED lights have been installed throughout the building, and the HVAC systems have been refurbished to align with ESG policies. Aesthetic and functional changes have also been implemented, ensuring that the office remains sustainable and adaptable to the evolving needs of the post-COVID era. There are also plans to make additional upgrades to the lobby and entrance to the property.

Tibor Raduly, Asset Manager at M7 Real Estate Commented: “We are thrilled to announce the successful lease renewal for Terra Park. Through our dedicated asset management efforts, we have tailored the building to meet our client’s specific requirements, incorporating energy-efficient features. We look forward to continuing our collaboration and providing a modern, sustainable working environment.”