Sparkassen Immobilien AG and IMMORENT AG open Neutor 1010 – modern dwellings and workplaces in Vienna’s historic centre

Press release
  • “Jewel in the City” with more than 10,000m² of residential and office space
  • Total investment of EUR 55m
  • Office furniture maker Bene acquires new flagship store
  • 27 premium quality freehold apartments already sold

After a construction period of barely two and a half years, Sparkassen Immobilien AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) is today – 12 October 2010 – opening its latest completed project, Neutorgasse 4-8. In the heart of Vienna’s Inner City a total of more than 10,000 m² of residential and office space and an underground car park with 133 parking spaces have been created. The property was developed by IMMORENT AG, Erste Group’s property specialist. The total investment amounts to some EUR 55m.

The building owes its name – “Jewel in the City” to the modern design by architects RATAPLAN, They have integrated the late 19th century facade with modern glass and steel that glows in the sunlight during the day and sparkles at night like a crystal.

The ground floor level exhibition space with its lavish use of glazing is linked to Neutorgasse by a forecourt recessed into the façade of the building.

Friedrich Wachernig, member of Sparkassen Immobilien AG’s Management Board: “As investors, we are particularly proud to have sponsored one of the few really new buildings in Vienna’s Inner City. As a mixed-use building of innovative design in an outstanding location, this is definitely a jewel that adds lustre to our portfolio.”

Modern offices and luxury terraced apartments

The commercial and office premises occupy roughly 5,000m² of space on the ground floor and the first three floors. A large part of the office space is let to office furniture maker Bene, which uses the ground floor as a contemporary showcase for its products.

The building is connected to the district heating system, and the offices have hollow floors and are cooled by ceiling panels. Adjustable metal sun screens protect from direct sunlight and ensure an agreeable temperature.

The upper floors contain 34 freehold apartments with generous terraces or balconies, and varying in size between 52m² and 197m². The loft apartments also feature galleries with access to the roof terrace. “Owners of apartments in Neutorgasse benefit from an ideal infrastructure and excellent transport links. Properties in such locations and categories are highly desirable and therefore rare. In Neutorgasse there are currently only seven apartments still available. Which is a tribute to the high quality of Neutor 1010,” according to Peter Tichatschek, of IMMORENT AG’s Management Board.

Historic location

Neutor 1010 lies between the Stock Exchange, Freyung and Salzgries, with Underground lines U2 and U4 in the immediate vicinity. The airport is only 20 minutes away. All important public facilities together with banks, shops, restaurants and cafés are close at hand and within short walking distance.

The construction work was accompanied by the challenge of archaeological excavations: 3.5 metres down parts of the Neutor bastion of 1558 were discovered, together with remains of mediaeval dwellings. The excavations were carried out by the City of Vienna’s archaeological service in collaboration with IMMORENT’s construction planning department. The finds and information were preserved for Wien Museum.