Choosing the right office is half of the success for a business – but what exactly do we mean by good location? What are the aspects to consider when we are looking for an office, especially in the light of the fact that the choice of the office is a decision we make for many years and it will influence labour recruitment and employee satisfaction, too? In our article, we are examining the South Buda area, which has by now become the most popular and most dynamically developing part of Budapest regarding office development and renting.
From motorways to metro 4: all roads lead to South Buda
It represents real value for the companies renting offices or commercial premises here that they can be continuously and mutually within easy reach of their strategic and business partners or their suppliers. Regarding accessibility by car and the transport of goods, South Buda has the great advantage over the downtown area that there is a large number of street and P+R parking facilities. However, what makes this location beat not only Budapest but also the national average is that this is where the entry section of motorways M1 and M7 start from and M6 is also nearby, while motorways M5, M3 and M2, as well as Liszt Ferenc International Airport can be reached fast and directly via the M0 bypass.
Undoubtedly, the best known advantage of the area is the excellent public transport: metro 4 has 5 stations in District 11 so the city centre can be reached quickly from here, in as little as 15 minutes. In addition to the interconnected tram network of Buda, there are several bus lines that connect the southern part of the district with the important transportation hubs of Buda and Pest, while Kelenföld railway station and the Volán bus station next to it make Újbuda and the South Buda area within it the western gate of the capital on a national level.
Choosing location based on demographic and educational aspects? It is worth consideration!
However, good transportation is only one of the arguments for an office building in South Buda. Just think about it: it is at least as important that a company or enterprise should be able to continuously recruit sufficient numbers of workforce of proper qualification. District 11 is a good choice in this respect, too, as it has a population of 140 thousand people, which could make it the fifth largest city in Hungary, not counting Budapest.
The educational infrastructure is excellent: this is where several determining institutes of Hungarian technical and economic higher education operate, such as BME, the campuses of ELTE, Gábor Dénes College and Budapest College of Management. The major tenants of the district are the IT companies so South Buda is the stronghold of information technology in Budapest and one of the most popular locations with employees.
Looking for an office to rent? Rent in a business-friendly district!
There are tens of thousands of businesses operating in Újbuda, whose activities are helped by industrial parks, innovation and technological centres in the district. According to the information annually published by HVG, 9 of the 100 Hungarian companies with the highest profit operate in District 11. The local municipal government supports the operation of the companies with various business-friendly measures, including simplified administration, transparent information flow, as well as local and EU funding sources.
The excellent conditions and the popularity of the district are proved by the fact that nearly one tenth of all the office complexes in the capital are located here and the latest surveys testify that this area has the lowest vacation rates (4.7%) in Budapest, which means that it is almost impossible to find empty offices.
A new office building is constructed in South Buda to satisfy the high demand
As the occupancy of the existing office stock is the highest in the capital thanks to the unique geographical, transportation, infrastructure and demographic conditions of the district, there is a significant need for newly built office buildings. Drawing on this enormous demand, InfoGroup will soon begin the construction of the second phase of its Bartók Udvar office building in Bartók Béla Street, the artery of South Buda.
The new facility of 24,000 square metres of rentable area, to be completed in summer 2018, is made extremely attractive for the future tenants, office workers and service providers by the excellent South Buda location, the possibilities of public transport and parking, as well as the high quality equipment and representative appearance of the future building, along with the high standard services available within it and in the neighbourhood. The preparatory work of the project are well under way; in order to flexibly satisfy market needs, the construction of the new Bartók Udvar office building can be completed in one go or divided into 3 phases.