Major tenants are government institutions and IT companies. All services required for the daily business operations are available in or around the office complex: in-house restaurant and cafeteria, Tesco Express, post office, bank branch with ATM and petrol station.
Total annual rental income based on 2014 Q4 data is EUR 800.000. Historical vacancy is approximately 5%, currently 0%. Potential long term annual income is around EUR 800.000-900.000 EUR. Rental income does not include income for operational services which completely cover operational costs. Expirations of major rental contracts are between 2016 and 2019. Current average lease term is 4.5 years.
BARTÓK COURT 1
Bartók Béla út District 11
•Year of handover: 2008
•Topographical number: 3406/1/M
•Net office space: 4,726 m2
•Net commercial space: 1,193 m2
•Total invoiced area: 6,273 m2
•Parking lots: 57 car and 6 motorcycle parking lots
TENANTS AND SERVICES
Bartók Court office complex is located along South-Buda’s main artery and it consists of class A and B office buildings. Bartók Court has an easy access by public transportation, public road, and bicycle route from the city center, and also from South Buda’s and the Buda Hills’ residential areas as well as from the national motorway network.
LOCATION AND TRANSPORTATION
Total amount of investment loans is EUR 5,400,000 as of November, 2014. The details of the loans are as follows:
•The debt comprises of two loans, a EUR 3,600,000 loan for the construction of the building and a EUR 1,800,000 loan added after the completion of the building.
•Quarterly repayment follows an annuity formula and lasts until the end of 2023 and 2028 respectively.
•Interest rate is 3 month euribor + 1.5% margin.