Renovation of River Estates finished in 2015

Press release

The office building has been renewed entirely and is nearly fully occupied

The technical and visual renovation of River Estates office building located on Váci út was completed by the end of 2015. In terms of sustainability, the installation of the new HVAC system (heating, ventilation, air conditioning) is the most important part of the project, significantly improving the building’s energy features. By the end of 2015 the building had an occupancy rate of over 96% with new lease agreements for approximately 4,500 sqm of office spa

More efficient operation with modern HVAC

The first step of the project, which began in 2013, was the complete mechanical reconstruction, with an investment of about EUR 2m. The new HVAC (heating, ventilation, air conditioning) system includes modern heat pump devices; the utilization of renewable energy significantly improves the building’s energy efficiency.  Sustainability has always been a priority for S IMMO Hungary, owner and operator of the building. In order to gain an objective proof to that, the company aims to achieve a BREEAM-certificate for the buildi

Visual renewal inside and outside

In the second half of 2015 the works came to a more spectacular stage with the renovation of reception areas and the façade. Beyond repainting the building and replacing covers, tenants have been provided with new visualization opportunities as well. Inside the building, the works affected primarily the common areas: the reception and the lift lobbies. Besides installing a new reception desk, painting walls and replacing floor tiles, new visual elements – design lighting and an imposing Voronoj-installation – also enrich the interior. In order to maintain the tranquility of tenants and smooth operation of service units in the building, a major part of the works was done outside working hours, gradually building the new image of the facility. S IMMO Hungary was responsible not only for the project management, but also the redesign of the reception area. The overall style and the new design elements were composed by one of the associates of their lease management team.

Increasing occupancy

In 2015 S IMMO’s team signed lease agreements for approximately 4,500 sqm office space in River Estates, raising the occupancy rate of the 21,000 sqm 10-storey building to over 96%. Several tenants operate their headquarters here for more than 10 years as an unquestionable proof of their satisfaction. They gave positive feedback on the technical and visual renewal of the facility, and River Estates became a worthy competitor to newly built modern office buildings in Budapest. Based on the current figures, the repositioning of the building was an undoubted success, and River Estates is nominated to the „Office Building of the Year 2015 Tenants’ Award.

Based on the experience of the leasing department of S IMMO Hungary the main features influencing tenants’ choice are the excellent location, efficient space layout, dedicated local management team and the multiple services (bank branch and ATM, restaurant, fitness center, bicycle rack, changing room, shower, inner garden, panoramic roof terraces) available in-house.