HIH renews lease with Instant Offices at Budapest’s White House complex

HIH Invest Real Estate (HIH Invest) has successfully extended its lease agreement with Instant Offices for 6,116 square metres at the White House office complex in Budapest. The renewal secures the UK-based co-working provider’s presence in the building for another five years, with the space exclusively allocated to a British carmaker.

The White House, completed in 2018, offers a gross lettable area of 22,300 square metres and was acquired by HIH Invest in 2019 for an institutional fund. With nearly full occupancy, the office complex hosts prominent tenants such as fund manager BlackRock and co-working provider Spaces, in addition to Instant Offices. Located on Váci út in Budapest’s 13th district, the property is well-connected to the city’s core via rail, underground, tram, and bus routes.

Oliver Scholtz, Senior Fund Manager at HIH Invest, expressed satisfaction with the lease renewal, citing the active asset management strategy and tenant-focused approach that persuaded Instant Offices to remain. “Our excellent property specifications and responsiveness to tenant needs played a significant role in retaining this valuable client,” said Scholtz.

In terms of sustainability, the White House recently achieved a LEED O+M (Operations and Maintenance) Gold certificate, enhancing its existing LEED Platinum status. This makes it Hungary’s highest-rated building under the LEED system. The LEED O+M certification focuses on the operational efficiency and maintenance practices of the property, underscoring HIH’s commitment to environmental sustainability and tenant wellbeing.

“We place great importance on the environmental aspects of building operation and maintenance, as they contribute to long-term cost savings and enhance indoor environment quality,” explained Malte Wallschläger, Head of Asset Management International at HIH Real Estate. He also highlighted the recent refurbishment of the on-site cafeteria as part of ongoing efforts to improve tenant amenities.

With its prime location and robust sustainability credentials, the White House office scheme continues to attract major international tenants, solidifying its reputation in Budapest’s competitive office market.