Amsterdam, 13 March 2018
Multi Corporation, a pan-European fully integrated retail real estate service platform, recently acquired the asset and property management of Allee Centre. This shopping centre is located in the city-centre of Budapest and includes 46,700 sqm. of retail space. Multi’s centre management team took over the management of Allee Centre on 1 January 2018, marking Multi’s first entry into the Hungarian retail real estate market. This is the fourteenth country in which Multi Corporation is developing its operations.
“The addition of Allee Centre fits perfectly in Multi’s strategy to extend its activities in the field of asset and property management and to be one of the leading property management platforms in Europe. We have over 35 years of retail expertise and a retail service platform in 14 European countries. We are a service machine, and we get involved in every single aspect of an asset to realise concrete value and tangible returns for our landlords,” says Josip Kardun, Chief Executive Officer at Multi Corporation.
Management of Allee Centre
As of January this year, Multi Hungary is responsible for the full management of Allee, including leasing and marketing, on behalf of the owners of the shopping centre, Allianz, represented by Allianz Real Estate and CBRE GIP on behalf of a client. “The management contract for the Allee shopping centre in Budapest is the company’s first step in the development of business operations in Hungary. It also a major step in our drive to strengthen Multi’s position in the comprehensive management of commercial real estate right across Europe. Our strategic goal in Hungary is to develop Multi’s portfolio in the management and development of commercial facilities. The Hungarian commercial real estate market offers us enormous potential for a long-term stable increase in the value of the facilities we manage,” says Barbara Topolska, Managing Director Central & Eastern Europe at Multi.
Allee shopping centre
Allee is a popular shopping centre in the capital of Hungary, located in the historical district of Buda. With a total area of 53,100 sqm., Allee boasts more than 130 stores of popular brands, restaurants, offices, a 13-screen multiplex Cinema City cinema and a Gilda Max fitness club. The occupancy rate of the centre is currently close to 100%. Allee attracts more than 18 million shoppers each year. The shopping centre includes popular stores of local and international brands from the mid-mass market and premium segment from practically all industries: fashion (H&M, Zara, Van Graaf), footwear (Humanic, Salamander, Deichmann), through jewellery and accessories (Pandora, Swarovski, O’Bag, I am), cosmetics (Dm, Douglas, NYX, Yves Rocher, The Body Shop, L’Occitane), electronics (Best Byte, Samsung Experience Store, iCenter) and sports (Intersport, Football Factor, Playersroom, Dockyard and Heavy Tools). Allee also offers a range of food & beverage outlets, including numerous cafes and restaurants such as Starbucks, Costa Coffee, KFC, Burger King and Zing Burger, plus an outdoor food truck zone.
Allee also offers a wide range of other facilities and amenities, such as banks, mobile phone showrooms and travel agencies, special parenting rooms, facilities for the disabled and charging points for mobile devices. The centre is pet-friendly and animals can accompany their owners.
Allee has the advantage of an excellent good location, close to the Móricz Zsigmond körtér – one of the biggest communication hubs on the Buda side of Budapest, with easy access to city buses, trams and the metro line. Allee also attracts visitors from nearby towns, thanks to the nearby motorway. The Allee shopping centre offers parking for 1,200 cars, with an electric car charging point on all parking levels.