WING has acquired two historic buildings located in the Central Business District of Budapest, expanding the company groupâs real-estate portfolio with valuable new assets. The first property at AndrĂĄssy Ășt 93, in the Diplomatic Quarter, is an office building that serves as a great example for its time. In addition to its impressive exterior and an exclusive conference room under historic monument protection, the unique building also boasts an underground parking garage and a quaint interior courtyard. The second property at BĂĄthory utca 12 was constructed in the early 1920s and houses offices. Both buildings are currently occupied by tenants with lease agreements valid for several years.
The purchase of the two historic buildings fits seamlessly with WINGâs long-term strategy, which in addition to development projects, includes the expansion of the companyâs real-estate portfolio through the acquisition of properties offering significant potential and representing considerable value. Moreover, the preservation of Hungaryâs architectural heritage, which defines the image of Budapest, forms a part of the mission of the Hungarian-owned company.
âCreating value through property development in Hungary is a core component of WINGâs activities. In many cases, we accomplish this through the renovation and revival of our existing architectural heritage. This deal thus adds buildings with significant potential and functions directly linked to our activities to our real estate portfolio,â says Noah Steinberg, WINGâs Chairman and CEO.
