The Budapest Piarista Center dubbed project started in 2008 and ended in September 2011 by the inaguration ceremony of the high school with the protectorate of the Prime Minister.
The sources of the Piarist Order were quite limited, so during the planning phase of the High School and Priory we not only had to pay attention to fit everything in the assigned budget but also to secure the future and long-term sustainability of the building complex. The Order intended to maintain sustainability by generating a stable income from letting out the lower floor’s areas to commercial use and some central rooms benefiting of the best panorama to corporate activities. The revenue from rents recorded by the Order serves as collateral for investment loans and repays the operational costs of the building.
Assignment: Project management, technical supervison, rental management
Status: Completed
Client: Piarist Order
Location: Budapest
Area: cca. 20 000 m2
Budget: 18 M EURO
The above might sound very simple but their implementation is far from from being it in the case of an approx. 6 billion HUF multifunctional building hosting a university, a high school , a priory, some restaurants, shops, office spaces and garage. Solun was assigned to the complex task of project management already in the planatory stages.
Already during the preparation lot of attention had to be paid to the sort of functions that were posteriorly supposed to secure the return on the investment. Capacity needs had to be monitored in order to make sales efficient. Solun -in the period of the loan application - have put several banks in competition, compiled the tenant mix, and based on that made the calculation of return. All this had an effect back on the planning and the final layout and assigned function of each area.
In the construction period our company managed the project, carried out the technical supervision and led the implementation of everything that was undertaken as obligation by the investor toward itself and the financing bank and in addition to this Solun handled the duty of renting! This was important because from one side because the plans proved right and from the other side because keeping sales and execution in the same hand we could operate as an information.
The project was completed successfully. Rental management has been continously provided by Solun which has resulted a successful operation, along the 100% capitalization of the rental capacity.
