925,000,000 Ft
2,440,000 €
- 1,336m²
Office building with building permit for residential conversion in district VIII.
Due to its dynamic development, Józsefváros has become one of the primary targets for investors. The Corvin Promenade - the largest inner-city urban regeneration project in Central Europe, covering 22 hectares - has a significant impact on the entire district, reflected in the rapidly increasing demand for residential properties and rising real estate prices.
The district is home to the campuses of Semmelweis University (SOTE) and the National University of Public Service, and a new campus development of Semmelweis University has also been approved on nearby Kálvária Street. As a result, a substantial proportion of those seeking apartments in Józsefváros are university students, many of whom move to Budapest from other parts of the country. The area is also an ideal target for real estate investors: thanks to its central location and excellent accessibility, newly built apartments are highly successful for short-term rentals, while long-term rentals are also in strong demand, primarily serving Semmelweis University’s more than 8,000 international students.
The district’s largest green area, the renovated Orczy Garden, is located just a 15-minute walk from the property, allowing residents to enjoy both the vibrancy of the city center and close proximity to nature.
The property itself is a 1,400 sqm office building consisting of a ground floor plus five additional floors, constructed in the late 1980s. According to current zoning regulations, the construction of a taller building is not permitted; therefore, retaining and redeveloping the existing structure is recommended.
The property offers several development opportunities:
The building has a valid building permit for conversion into a residential apartment building.
It can also be utilized for healthcare purposes. The area is designated as a healthcare hub, with nearby facilities including the Semmelweis Clinics, Semmelweis University, and several private healthcare centers such as Corvin Medical Center and FjordMed Medical Center.
Conversion into a student dormitory is also an attractive investment opportunity due to the proximity of several universities (Eötvös Loránd University – Faculty of Humanities, Semmelweis University, Pázmány Péter Catholic University, Óbuda University, and the National University of Public Service). A similar project has already been successfully completed in the area.
Asking price: HUF 925,000,000 + VAT
We look forward to your kind inquiry.
The district is home to the campuses of Semmelweis University (SOTE) and the National University of Public Service, and a new campus development of Semmelweis University has also been approved on nearby Kálvária Street. As a result, a substantial proportion of those seeking apartments in Józsefváros are university students, many of whom move to Budapest from other parts of the country. The area is also an ideal target for real estate investors: thanks to its central location and excellent accessibility, newly built apartments are highly successful for short-term rentals, while long-term rentals are also in strong demand, primarily serving Semmelweis University’s more than 8,000 international students.
The district’s largest green area, the renovated Orczy Garden, is located just a 15-minute walk from the property, allowing residents to enjoy both the vibrancy of the city center and close proximity to nature.
The property itself is a 1,400 sqm office building consisting of a ground floor plus five additional floors, constructed in the late 1980s. According to current zoning regulations, the construction of a taller building is not permitted; therefore, retaining and redeveloping the existing structure is recommended.
The property offers several development opportunities:
The building has a valid building permit for conversion into a residential apartment building.
It can also be utilized for healthcare purposes. The area is designated as a healthcare hub, with nearby facilities including the Semmelweis Clinics, Semmelweis University, and several private healthcare centers such as Corvin Medical Center and FjordMed Medical Center.
Conversion into a student dormitory is also an attractive investment opportunity due to the proximity of several universities (Eötvös Loránd University – Faculty of Humanities, Semmelweis University, Pázmány Péter Catholic University, Óbuda University, and the National University of Public Service). A similar project has already been successfully completed in the area.
Asking price: HUF 925,000,000 + VAT
We look forward to your kind inquiry.
Registration Number
UZ019333
Property Details
Sales
for sale
Legal Status
used
Character
commercial
Type of Business Property
entire building
Construction Method
brick
Net Size
1,336 m²
Plot Size
507 m²
Above-Ground Net Size
1,194 m²
Ceiling Height
270 cm
Number of Levels Within the Property
7
Condition
Average
Condition of Facade
Average
Year of Construction
1990
Water
Available
Gas
Available
Electricity
Available
Sewer
Available
Elevator
available
Possible Functions
standalone office building, office, office and warehouse, hotel, guesthouse, hostel, healthcare center, educational center, rental building, standalone office building
Accessibility
Entrance from side street
Utilization
vacant