Lakatos Koves & Partners has advised VGP on the acquisition of a 38-hectare development site in Ullo, next to Budapest’s Liszt Ferenc International Airport. Szabo Kelemen & Partners Andersen Attorneys reportedly advised the sellers.
VGP is a pan-European provider of logistics and semi-industrial real estate.
According to LKT, “the development potential of VGP Park Budapest Aerozone is approximately 125,000 square meters. The park accessibility is excellent from the Budapest ring road, M0, and M4 motorway and from all the arriving and departing planes at the airport. The park will consist of three buildings ranging from circa 30,000 square meters up to over 60,000 square meters in area. Construction will start during 2021 for the first building.”
LKT’s team included Partner Atilla Ungar, Senior Lawyer Tamas Balogh, and Lawyers Kata Molnar, Szandra Remete, and Csenge Varadi.