1,400 m² of office and retail spaces have been leased in 2014 at Eiffel Square Office Building. Out of the total, only 60 m² is new lease agreement, the rest are expansions of existing tenants.
Eiffel Square office building is in the unique situation that since 2011 its occupancy level has been constantly above 90%. As a result, vacant space has only become available where an existing tenant has given back space or moved to another office building due to the necessity to expand. In fact, since 2011, all vacant areas have been leased by existing tenants expanding, with the exception of one small 60m² area occupied by Café Frei. This is also exceptional in the Budapest office market.
The most significant expansion was made by Medicover. They increased their space by more than 25% (540 m²), to occupy almost 2,000 m² out of the GLA 2,900 m² ground floor retail area. ESAB also enlarged its office area significantly with an additional 500 m² increasing to almost 2,200 m² office space. Givaudan expanded to 1,700 m², due to the latest 340 m² expansion. The ground floor retail area is now completed as Café Frei opened in September, offering several delicious coffee specialities from all over the world. Besides Frei Café, Cetelem Bank, Medicover, Tesco and Costa Coffee offer their services in the passage area of Eiffel Square Office Building.
The popularity of Eiffel Square is an outstanding success for ConvergenCE, the developer, asset and property manager of the building. Csaba Zeley, Director of Asset management believes that the strong interest is due to the excellent location, the quality services and the successful business operation of the Tenants. A short video about the office building and its services can be seen at www.eiffelsquare.com.
