MOM Park is a mixed-use property located in the most affluent part of Budapest and is the preferred shopping destination for this catchment area.
- Acquisition of a high-quality asset at a significant discount to its replacement cost in a market that had been unduly neglected by the investment community, but which came into focus shortly afterwards.
- Successful repositioning of the retail element in line with its catchment area, including a complete refurbishment and a 737m² extension to the centre.
- Delivery of a modern and welcoming atmosphere, an upmarket tenant mix including upmarket fashion retailers, a comprehensive F&B offering and health & wellness services.
- Introduction of new anchors Müller, H&M, Reserved, Libri and Medical Center plus premium tenants such as Liu Jo, Michael Kors and Furla.
- Successful reduction of the service charge leakage by 55%.
- Sustaining high occupancy levels and of stable income streams in the 20,000m² office component.
Location
Budapest, Hungary
Sector
Retail | Office
GLA
51,400m²
Holding Period
2015 – 2018
Engagement
Co-Investor
Asset Management
Leasing Management
Development Management
