Description
We are particularly pleased to be able to offer you a versatile investment opportunity for sale, centrally located in the 8th district of Budapest - between the Eastern Railway Station and Blaha Lujza Square,
easily accessible from all directions both by car and by public transport.
History of the property:
Our grandparents still live in their memories of the "Fashion Hall", they can still remember the first real Pest shop founded by Mark Rosenberg with a special offer of exclusive fabrics and various accessories. In 1928 it began to expand, in 1934 a modern shop was created through renovations and extensions, and by 1939 it was operating on five floors with almost a thousand employees.
The fashion hall on Rákóczi Street was nationalized in 1948, the building fell into disrepair in 1956 but was restored and operated as Otthon Áruház as a member of Centrum Áruházak.
But that is past. With the slow change in shopping habits, retail trade began to falter and finally collapsed with the advent of shopping malls in the 1990s.
Then as now, the incredible interior fascinates. A three-story, circular arena with a huge glass window at the top inspires architects and investors to come up with new, contemporary ideas.
Key data:
Year of construction 1921
Renovations 1971
Usable area: approx. 4,000 m² on 4 floors incl. 1,000 m² basement
vacancy
Object description:
On three building levels with a total of approx. 4,000 m² of usable space, this property is perfect for an impressive shopping center,
after structural remodeling as a modern office building or as a contemporary city hotel with terrace-like structures.
We can provide you with an intersting renovation/remodelling concept - bur any other good idea is welcome!
We are already looking forward to your inquiry so that we can explain the possibilities to you in more detail!