Historic Development Opportunity Near City Park, Budapest

This distinctive historic property presents a rare hospitality and investment opportunity, just steps from the iconic City Park.

Set on a 1,087 m² plot with approximately 1,100 m² built area, the property enjoys a prestigious setting surrounded by diplomatic residences and historical sites. The building is also located close to Hungary’s most important sports facilities (Puskás Arena, Papp László Budapest Sport Arena) and sports-related institutions (Hungarian House of Sports, National Sports Centres
Hungarian Athletics Association).

The existing building comprises approximately 1,100 m² and currently offers 32 rooms, including three attic rooms that could be configured as a larger family accommodation. Individual room sizes range from approximately 16 to 25 m². The current development concept envisions the transformation of the property into an elegant 3–4-star boutique hotel, complemented by a landscaped garden, swimming pool and an outdoor café or restaurant.
The plans also include an approximately 50 m² breakfast room, while the existing technical infrastructure includes gas heating with a fan-coil system, one elevator and outdoor parking.
Based on the current hospitality concept, projected room rates are approximately €110 per night during the winter season and €160–190 per night during the high season.

The property benefits from excellent accessibility, both by car and public transport. The M3 motorway can be reached within minutes, providing convenient connections beyond Budapest and easy access towards the surrounding hills and countryside for those wishing to escape the city and enjoy nature. The building itself has a fascinating international history. It was originally owned by East Germany (GDR) until 1976 and stood beside the former East German Embassy, which has since been demolished. The property was subsequently acquired by Saudi Arabia, although it was never put into use, adding another interesting chapter to the building’s unique diplomatic past.

With its historic/cultural character, diplomatic and sport-related surroundings, proximity to City Park and Budapest’s major cultural attractions, as well as its excellent accessibility, the property offers considerable potential for the creation of a distinctive boutique hospitality destination in the Hungarian capital.
The final technical condition, current stage of completion and asking price are presently being clarified. Further information is available upon request.