July 5th, 2012

Developer to build bicycle shopping centre in South Budapest

Property developer Indotek Group will build a 10,000sqm shopping centre geared towards cyclists, called Pedal Market, in South Budapest for HUF 1.1bn, business daily Vilaggazdasag wrote on Wednesday.

Indotek will start construction at the site of the former Csepel Metal Works in 2013 and plans to complete it in 2014.

Pedal Market will feature 6,000sqm of commercial area available for rent.

The plan to finance 60pc of project costs from selling the plots in advance and finance the remainder with their own money.

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  • Panda punk

    Yawn…

  • Rabbi Sholomon

    Given the tiny size of most bike shops, and the fact that most other bikes are sold in Decathlon or Tesco, it’s hard to see this as a viable business proposition.
    I can’t find in Hungary the quality and selection of bike accessories and clothing available in Austria, for example. There simply isn’t enough demand from people able to pay for them.

  • Curious George

    @Rabbi – Absolutely right. Why would a bike shop which has a captive market in a particular area, want to move to Csepel, only to pay higher rents & have lower margins because of 10 of their competitors are now next door to them? I’ve had 3 bikes stolen so far (2 from home & 1 from school). No, thanks, I’ll get my bikes from Tesco or Auchan, who, by the way can use the space to sell other things during the winter months.

  • Cnut

    I’m willing to bet a million pengős that this project will never get built.

  • Rabbi Sholomon

    My 10000 fillérs trumps your million pengős

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