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TESCO EXPRESS – BUDAPEST

Location: 1146 Budapest, Thököly út 151. C.

TENANT: TESCO

Tesco was founded by Jack Cohen in 1919, out of a market kiosk in London’s East End. Over the years the business kept expanding, and today encompasses three continents (Europe, America and Asia), 14 countries, and over 5300 stores. Entering the Hungarian market in 1995 was also the company’s debut in the Central European region. Today Tesco runs over 200 stores across the country, which together generate over 1% of the nation’s GDP. With over 90 thousand employees across Europe and 25% of their 1082 European stores based here, Tesco is also the third largest employer in Hungary.

KSP

(KEY SELLING POINTS)

  • valid lease contract with Tesco expires 2023
  • class “A” tenant
  • near Metro station
  • strong public transport hub
  • high pedestrian traffi c
  • connected to tobacco shop, but separate space
  • very strong location
  • basement level under – entire fl oorspace
  • potential for higher rental price (underrented) – newly built property

DESCRIPTION

The property is located on the corner of Thököly and Róna utca, physically connected to the condominiums around it but is legally, structurally and administratively entirely separate. Tesco had entirely renovated and refurbished the property to its own purposes at the very outset of the lease contract. Both Tesco and the respective tobacco shop boast excellent turnover. Two billboards have been fi xed to the outside of the property, and are rented to advertising companies for extra income.

THE PROPERTY IN NUMBERS
Property type Retail supermarket
Download the project brochure in pdf
GESTOR Real Estates is an investment group focusing on real estate investments.
The group was founded in 1990 and is now focused on property investment in Hungary, Spain and Portugal.