HURFORD SALVI CARR ANNOUNCES €5.8 MILLION BUDAPEST DEAL

Leading London property advisor Hurford Salvi Carr has recently completed its first deal in the Hungarian capital of Budapest. Led by Director, Stephen Hurford, the company acted for UK based Investor, The Edgewater Group in the €5.8 million off-plan purchase of Corvin Art, a soon to be completed 54 unit block of apartments in the centre of the City.

Stephen Hurford comments, “With the market slowing in the UK, our clients are looking for us to be innovative in finding investment opportunities for them. This can include reviewing the global markets, and certainly among the major European capitals, Budapest offers a particularly good investment opportunity. So in response to this Hurford Salvi Carr has now increased their activity in Budapest and is hoping to garner some of the best property deals for UK investors over the coming months.”

Unlike many other Eastern European cities, Budapest has undergone a gradual planned refurbishment rather than a quick fire redevelopment meaning that it has maintained much of its original architecture and infrastructure. Current regeneration is sympathetic and innovative, creating appealing new property market for Budapest’s aspiring local population and burgeoning tourist industry.

Corvin Art is situated adjacent to the listed Corvin Theatre, located in the Central 8th District of Budapest and is within walking distance of the City’s historical Basilica, River Danube and Parliament. The Corvin Promenade is currently set to be redeveloped into an 800m retail, leisure and commercial centre with the aim of turning it into Budapest’s “Covent Garden”.

Stephen Hurford comments, “Corvin Art will be finished to a particularly high standard that we believe will set a new precedent in Budapest. My client is extremely happy with the investment in this building which we are confident will sell quickly either as homes or holiday apartments”.