AutoWallis has purchased an 18,000 square metre plot of land near Kopaszi-gát, a dynamically developing, frequented part of Újbuda, where the company plans to build a multi-brand vehicle sales and service centre encompassing several different brands. The investment project fits in well with the listed automotive company’s dynamic growth strategy.
An enormous 18,000 square metre property suitable for the construction of a sales and service centre for up to 5 brands has been purchased from Strabag Group by AW Property Kft., under the exclusive ownership of AutoWallis Plc. The company purchased the almost two-hectare property located in a frequented part of Újbuda using its own funds. Plans include the construction by 2025 of an almost 9,000 square metre complex that meets the most current green requirements. AutoWallis plans to finance the almost HUF 10 bn project from the amount obtained from green bonds and from a project loan. The purchased land is located on the Buda side of the capital city, at the intersection of two main thoroughfares in Újbuda, Szerémi út and Hunyadi János út, both of which are used by traffic heading south-north in Buda as well as the hundreds of thousands of people commuting from the suburbs. Residential and office building development projects are also currently away in the vicinity: the area behind Kopaszi-gát will soon be home to 3 thousand new homes, 250 thousand square metres of offices, and close to 30 thousand new residents, which in itself will result in significant increases in local traffic. AutoWallis Investment Director Gábor Székely explained that both the property and the possible development project are in line with the strategy of the automotive company of the Budapest Stock Exchange (BÉT), which expects to sell not only the current brands offered by the company at its new sites, but to represent new brands as well. Moreover, the property is also AutoWallis’s first location in Buda, another important milestone for the company. He added that the detailed plans for the multi-brand sales and service centre would be prepared in line with the newest green requirements. Accordingly, the new sales, service, and office functions will meet manufacturers’ environmentally conscious requirements focusing on electric vehicles as well as the contents of the AutoWallis Green Finance Framework, which the company was the first to develop among the companies listed in the BÉT Premium category.