After closing this transaction, the CPI owned BALANCE LOFT building, the second phase of the BALANCE OFFICE PARK development, already stands at 75% office occupancy, two months prior its completion, which is an extraordinary success on the domestic office market.

The Fairfax Group owned Colonnade has entered the domestic retail and corporate insurance market with two acquisitions in 2016, and has commissioned CBRE in the beginning of 2017 to find a modern and easy-to-reach office for their employees with a unique atmosphere. The process was supported by the CBRE’s own technical team, delivering also project management services in the further phases of the fit-out.

During the search and the site visits the needs have become more and more clear, and finally Colonnade opted for the newly refurbished A-category Balance Loft office building owned by CPI, where they going to rent an entire floor. Colonnade’s management made a decision, based on preliminary internal surveys to create an efficient and pleasant work environment: the staff (including executives) will be working in a so called open office, where collaborative spaces, meeting rooms and focus rooms of different functions will be created as well. Thus, Colonnade’s relocation does not only mean moving to a new office, but also a new modern corporate and office culture for the employees.

"The campus-style Balance Loft office building surrounded by a green area serves Colonnade's growth strategy well, and the timing and the scale of the second stage of the Balance Office Park’s development are both ideal for a future expansion as well. Furthermore, the unique loft office space promotes the company’s image, too. Váci út is indeed a suitable spot for a dynamic company as it is Budapest's dominant business centre, where many company headquarters are located. This is quite apparent as 31% of all that is currently being built is right in this submarket" – said Judit Varga, MRICS CBRE Head of Office Agency.

"We are delighted that CBRE has helped us map out our ideas on such a high professional level and is providing us with expert support also in the implementation. The flexible design of our new office and its particularly planned features serve effectively both our operation and aim to build a great team," said Gábor Kovács, General Manager of Colonnade.

"It is a great pleasure for us to welcome an internationally renowned player among the first tenants of Balance Loft. I believe that during the negotiations we managed to outline the philosophy of the Balance Loft, this unique and appealingly diverse development which will be a modern, liveable office for Colonnade. We have now closed three transactions for the loft office building, the second milestone in the continuous development of the Balance Office Park which is going to be handed over in November.” - said Bodahelyi András, Leasing Manager of Balance Loft.

 

CPI Group; CBRE