The most expensive property in Buda, the Akadémia Park in the 2nd district and the two office buildings located there were bought by a Russian investor. A separate city centre with entertainment and sport facilities was to be built at the 12.6-ha area, but the investment hasn’t been realized. The new owner, who paid HUF 10.1 billion for the property, would like to continue the construction.A Swedish project company owned by a Russian investor bought one of the most expensive properties in Buda, the Akadémia Park in Pasarét in the 2nd district. The park located at the 12.6-ha area was previously owned by Akadémia Park Ltd., which belongs to SCD Group and currently is under liquidation. Two renovated office buildings, Officium and Trafó are located in the park. The property was sold for HUF 10.1 billion; the price will be transferred to Cash&Limes Inc. that is responsible for the liquidation and will be shared between the two banks that provided the loan for the construction.
The Property Is Located At the Most Expensive Area of Budapest
The office buildings are located in Pasarét in the 2nd district, which is one of the most expensive areas of Budapest: local real estate prices go up to HUF 370 thousand per square meter. The HUF 10.1 billion price of the recently sold property will be shared between the two banks, OTP and MKB, that provided the in total HUF 16 billion loan for the construction. Akadémia Park was previously owned by the 2nd district; the self-government bought it for HUF 6.819 billion from the Hungarian state, and later sold it to SCD Group for HUF 6.851 billion.
A Separate City Centre Is to Be Build in the Park
The previous owner was planning to built a separate city centre with entertainment and sport facilities in Akadémia Park, in the place of the former cadet school, but the plans have never been realized except from the mentioned two office buildings. The constructions were shut down in 2012. The new owner of the park would like to continue the construction, but since the planned facilities haven’t got the construction permit yet, the construction can’t be started until next summer or fall.
Source:resourceinfo.hu
Photo:
epiteszforum.hu
