Timex Headquarter in Science Park

Budapest, January 30 2014.

The Hungarian representation of the American watch manufacturer has decided to move its headquarters in Budapest from the 3rd district to Science Park, and will occupy a new office space from Q1 2014. – said Petra Holy, Associate Director at Colliers International Office Agency.

Timex Hungary – member of Timex Group having offices and manufacturing facilities in more than 80 countries - has realized the great quality of the building along with all the features and facilities that most tenants expect. The new tenant will have both an office and a service point on the ground floor.

Science Park - represented by Colliers International and Eston co-exclusively - has shown its strength even in a competitive submarket with significant inventory. Its nearly 30 000 square meter base area has been working with a 95 percent occupancy rate since its handover ceremony in 2004.

In 2013 Science Park received the BREEAM in Use ”Very Good” rating in all the three possible categories (“asset”, “building management” and “occupier management” (Ericsson), as the first in Central and Eastern Europe. Contributing to the “Very Good” certification was the 2012 investment by Science Park in a heat recovery system reusing the waste heat from building mechanical systems, and the entire building management system was replaced. Due to the unique solutions put in place in the office building, in addition to the energy and cost savings, the building’s environmental impact was also reduced.

Science Park is owned by Heitman, a leading investor group of the United States, which has almost 50 years’ experience in real estate investments. Heitman is noted amongst the largest investors in Europe as well; the group acquired Science Park in 2011. The company also possesses Alkotás Point, majority of ownership of the Millennium Office Buildings and Office Garden 1.


Source: Colliers International - OGH News Agency

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