Closing in VIERTEL ZWEI acquisition

Corporate news

Sparkassen Immobilien AG acquired three properties in the new Viennese urban district Viertel Zwei.

Austrian stock exchange listed Sparkassen Immobilien AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) has finalised the purchase of the properties HOCH ZWEI and PLUS ZWEI located in the new urban district VIERTEL ZWEI and developed by IC Projektentwicklung GmbH. Both buildings are being used by OMV AG as headquarters. The neighbouring HOTEL ZWEI, which is being operated as a Courtyard by Marriott, has also been acquired. “The acquisition of these buildings is one of the biggest and most important real estate deals in Vienna in recent years,” comments Ernst Vejdovszky, member of Sparkassen Immobilien AG’s Management Board, on closing the deal. “Projects like this one only come along every few years.”

Visionary architecture and optimal working conditions

Henke und Schreieck (HOCH ZWEI) and Martin Kohlbauer (PLUS ZWEI) are the architects of OMV’s new headquarters. OMV is the leading energy group in the European growth belt.

The 80-metre HOCH ZWEI building with its 23 floors is an unusual and intriguing concave-convex structure composed predominantly of steel and glass, which allows for a maximum of natural lighting. In 2009 Hencke und Schreieck received the Austrian Architects Association’s (ZV Austria) Clients’ Award for their design. In designing the PLUS ZWEI building Martin Kohlbauer also uses transparent architecture and striking shapes and forms. OMV AG now has at its disposal around 41,000 m2 of office space equipped to the most modern standards.

The four-star hotel Courtyard by Marriott Wien Messe has 251 rooms and suites and was designed by Zechner & Zechner. The hotel and OMV’s head office form the entrance to the new VIERTEL ZWEI urban district. Ernst Vejdovszky: “These buildings not only add three new architectural highlights to our portfolio, but also underline our confidence that the location will fully live up to its potential. In accordance with our strategy, we have a well-known and strong long-term tenant in OMV. The new complex being constructed nearby for Vienna University of Economics and Business Administration is an additional advantage for the location.” The developer Michael Griesmayr, who is now selling the properties, is also pleased: “Of VIERTEL ZWEI’s nearly 100.000 m2 of rentable space 90% has already been let, and now 80% has been sold. IC and its team can be proud of the resounding success of the project."

Sparkassen Immobilien AG was advised by Stefan Artner and his team of experts in real estate law from commercial lawyers Dorda Brugger Jordis. Richard Kohlhauser, partner in M&A Treuhand, advised on the tax implications of the transaction.

Details of the agreements and the purchase price were not disclosed.

New urban district VIERTEL ZWEI in prime location

The site of the VIERTEL ZWEI project lies between Vorgartenstrasse and Trabrennbahn Krieau and is adjacent to the new section of the U2 underground and Messe Wien. The city centre is only a few underground stops away, and the motorways A4, A22 and A23 are in close proximity.

On a 40,000 m² site, a modern office, residential and lifestyle location with international flair has been created in a hitherto largely unknown part of town. The area is designed as a traffic-free zone, and has the necessary parking places tucked away in several underground garages. The extensive green space and a 5,000 m² lake provide additional enhancement of the quality of life, working and leisure activities. In 2008 the project VIERTEL ZWEI received the DIVA Award.

The neighbourhood’s excellent infrastructure includes the shopping centre Stadion Center, a kindergarten, a primary school, restaurants and a fitness studio. The Grüner Prater, a large area of park and woodland offering a wide variety of sporting activities, adjoins to the east.