Budapest VI. kerület, Izabella utca For sale residential area

Premium attic development opportunity in a prime location in Budapest’s 6th district.

The project involves the complete demolition of the existing condominium’s roof structure and the construction of two new attic floors, featuring a total of 8 premium apartments, new corridors, an elevator, and related architectural upgrades.

A full construction permit has been issued for the project, approved by the Government Office of Budapest.

Although the original permit has expired, it can be renewed at any time based on the current project status, allowing for a quick and efficient reactivation of the development. This is especially valuable in Budapest’s inner districts, where obtaining new attic extension permits is now a lengthy and uncertain process, particularly within World Heritage and protected monument areas.

The planned development includes 8 new apartments accessed from the first attic floor via shared corridors overlooking the courtyard.

Two-story apartments will be built in both the street-facing and rear wings of the building.

The main staircase will be extended by one floor to provide access to the upper levels.

On the ground floor, exterior facade windows and doors will be renovated, and the inner courtyard along with the existing facades will undergo a full refurbishment as part of the project.

The specifications for the planned 4th and 5th-floor apartments are as follows:

1. Apartment 1: single-level, 2 rooms, 54.41 m² usable area, 56.76 m² net floor area + 3.28 m² winter garden.

2. Apartment 2: two-level, 3 rooms, 84.18 m² usable area, 94.07 m² net floor area + 3.28 m² winter garden.

3. Apartment 3: two-level, 2 rooms, 80.31 m² usable area, 84.27 m² net floor area + 3.28 m² winter garden.

4. Apartment 4: single-level, 3 rooms, 64.27 m² usable area, 66.36 m² net floor area + 3.28 m² winter garden.

5. Apartment 5: single-level, 2 rooms, 53.18 m² net and usable area.

6. Apartment 6: two-level, 4 rooms, 98.33 m² usable area, 107.35 m² net floor area + 11.20 m² terrace.

7. Apartment 7: two-level, 2 rooms, 77.20 m² usable area, 81.49 m² net floor area + 5.54 m² terrace.

8. Apartment 8: single-level, 2 rooms, 41.88 m² net and usable area.

The total usable area of the planned 4th and 5th floors, including the staircase, corridors, electrical room, and the 8 apartments, is 634.34 m², complemented by 13.12 m² of winter garden space and 16.74 m² of terraces. The total net floor area amounts to 665.94 m² plus 13.12 m² winter garden and 16.74 m² terrace.

A new passenger elevator has also been approved as part of the project. According to plans, a KONE EcoSpace elevator with a capacity of 13 people and 1000 kg will be installed in the main staircase shaft.

Parking obligations related to the development are fully resolved.

A parking buyout agreement has been reached with the 6th district municipality for 8 parking spaces, valued at a total of HUF 9,600,000.

This is a significant advantage, as it eliminates the need to build an underground garage or parking system, which greatly reduces costs and technical challenges in a downtown project.

Based on the available documents, the project is well prepared. General assembly materials for the condominium, authorizations, and technical preparation documents are all in place. According to the electrical expert opinion, some updates may be necessary, such as to the main distribution board and lightning protection system; however, these are typical and manageable costs for an attic extension of this scale.

Overall, this project represents a rare attic development opportunity in one of Budapest’s most sought-after districts, offered with a ready project company, a renewable construction permit, and detailed planning documentation.