They bought the Austria House office building, one of the most sought after parts of the Budapest business district. The buyer is a Wigan Acquisitions real estate investor – listed in the PropertyEU article.
Wigan Acquisitions acquired the Austria House office building in the center of Budapest’s business district, raising its total capital to 135 million euros (42 billion forints). The building has 900 acres of gross leaseable space, which includes all the premises outside the offices.
In this part of Budapest’s business district, the vacancy rate of office buildings is one of the lowest in the city, about 1.7 percent. The company would build its portfolio in the region mainly by purchasing city-center real estate, expecting higher returns compared to Western Europe.