PRESS RELEASE

ESTON International, Hungary’s largest fully Hungarian-owned commercial real estate advisory firm, has successfully concluded the sale of the heritage-listed property at 72–74 Váci Road. Standing on a 10,349 m² plot and offering a total floor area of 22,584 m², the property was sold under an exclusive advisory mandate, with ESTON providing full professional support from strategic preparation till closing.

An industrial heritage icon in a new role

The Váci út complex was built in 1893 as part of Budapest’s first electricity supply center, designed by József Pucher. Originally operating as the cradle of the capital’s electricity supply, the plant underwent its first major reconstruction in 1895 and was further expanded several times throughout the 20th century. The building has been under national heritage protection since 2006. Its historically significant façade, ornate brickwork, and domed corner tower remain a defining feature of the 13th district’s skyline. Following its revitalization, the complex will be well-suited to accommodate modern educational, office, and research functions.

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ESTON’s value-enhancing role

For more than two decades, ESTON has been a key player along the Váci út office corridor. This latest transaction further expands its reference portfolio in the 13th district and adds to the company’s expertise in managing high-value real estate deals involving listed heritage properties.

Attila Balogh, Partner and Head of Capital Markets at ESTON:

"We are proud to have successfully guided this complex process on behalf of our client. The transaction involving a more than 130-year-old, protected heritage building represented both a professional challenge and a unique opportunity. We are delighted that this exceptional architectural landmark will continue to serve a new purpose as an educational center for the long term."

The transaction was managed by ESTON’s Capital Markets team, led by Attila Balogh, as Head of the Division, and Luca Pickermann, Consultant.

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