When in 1913, the water tower of Margaret Island was opened to the public; the whole city came to see. Not just because of its sheer size and aesthetic appeal but because of its special architectural design. The water tower was built with then revolutionary technology; this was the first Budapest reinforced concrete building. The water tower was retired decades ago and reservoir removed. Today it is rented out as a lookout tower and an exhibition venue. A wonderful overview of Budapest can be seen from the dome chamber of the tower, while the trunk of the tower is a progressive art exhibition offered to visitors. The structure of the city and its lovely geographical environment are seen well from the tower.

The Lookout tower is accessible by bus 26 from the Western Railway Station and Margaret Bridge. It can also be reached by car and there is a large parking area for private cars at the Northen corner of the Island by Árpád Bridge, close to the tower.