C&W wins largest Hungarian retail mandate of 2014

Cushman & Wakefield (C&W) has been appointed to manage Resideal's retail portfolio in Hungary which comprises four regional shopping centres in Pécs, Sopron, Szombathely, Veszprém and a 50,000 m2 retail park in Zalaegerszeg.

It is the largest retail mandate awarded in Hungary so far this year, the broker said in a statement.

Resideal is the asset management company of MKB Bank.

'In such an economically challenging environment with very limited retail developments in both countryside and urban locations, this mandate is an outstanding opportunity,' commented Szabolcs Anselmo, head of Retail Property Management at C&W in Hungary.

C&W property management department is currently mandated on 61 properties totalling 529,000 m2.