Hungarian Wing Sells Family Center Business Park
Hungarian investor-developer Wing has sold the Family Center business park in the western Hungarian town of Szombathely to local investor Unione Investment Group. Family Center Szombathely, with 28 stores and seasonally changing stalls, was acquired by Wing in early 2018 and has now been sold to the new owner with nearly 100% occupancy.
Wing, one of the largest property developers and investors in the Hungarian real estate market, acquired Family Center Szombathely in early 2018 and has now sold it to Unione Investment Group. Wing achieved a significant increase in revenue and value by leasing nearly 100% of stores during the post-Family Center acquisition operation.
The Family Center shopping park is located in the heart of the largest shopping center in Szombathely and Vas county, next to the Tesco hypermarket and the Praktiker DIY store. With nearly 30 popular stores and seasonally changing stalls, it has been one of the region’s most popular shopping destinations since 2005. It boasts unique stores in the county such as Media Markt, Hervis and C&A.
Wing is active in the Hungarian retail market. Its developments include Agria Park, the most modern and largest shopping and entertainment center in Eger and the entire region of Northern Hungary, offering a unique range of goods, and Hegyvidék Shopping Center in District 12 of Budapest. The renovation and repositioning of Mom Park was also carried out by the company. Additionally, the Gobuda Mall in Budapest’s District 3, which opened in spring 2022, has been transformed by Wing into a modern shopping mall with 25,000 square meters of rental space.