Portfolio Property Investment Forum 2020: LKT represented Vodafone as lessee in the „Lease Deal of the Year” in Hungary for a 14 140 m2 lease in Budapest ONE Office Park developed by Futureal

Lakatos, Köves & Partners (“LKT”) represented Vodafone-UPC in connection with the lease of its new headquarters, which deal won the „Lease Deal of the Year” at the Property Investment Forum, the most prominent real estate event of the year in Hungary organized by Portfolio (this year held for the 11th time and for the first time held online).

Previously LKT represented Vodafone on the Hungarian aspects of Vodafone’s acquisition of Liberty Global’s operations (UPC) in 2019-2020. With that transaction Vodafone became the leading next generation network owner in Europe with 54 million cable/fibre homes ‘on-net’ and a total NGN reach of 110 million homes and businesses, including wholesale arrangements. As the next step in the merger of the two businesses from October 2022 the Vodafone employees working in the present Vodafone headquarters move to this common new headquarter building located in Budapest ONE Office Park.

The new, 14 140 m2 office is a smart building with electric car stations in the parking area. There will be a multifunctional common area with bathrooms and bicycle storages and a panoramic roof running field on the top of the office together with about half an acre open space. The location was a prime factor in Vodafone’s decision, since Budapest ONE Office Building is located at the biggest multimodal traffic point of Budapest (at the Kelenföldi Train station, Metro line 4, Trolley line 1, and gate of M1–M7 motorways).

“It is a great honour that following the „Investment Deal of the Year” Award at the same Portfolio ceremony in 2019 (*representing GLL in the sale of Roosevelt Office Building) – we were again representing an award winning deal in 2020 in such a competitive arena and one of our very important clients…” – LKT real estate Partner, Attila Ungár commented.

LKT’s legal team was led by Attila Ungár, Real Estate Partner and Ágnes Hegyi, senior real estate lawyers.