Bank Austria Creditanstalt launches sale of real estate
- Properties in Vienna’s Vordere Zollamtsstrasse and Am Hof will be sold
- Two-stage bidding process planned to lead up to sale by the end of May
Bank Austria Creditanstalt (BA-CA) is starting the sale process for two properties owned by the bank in Vienna, at Am Hof 2 and Vordere Zollamtsstrasse 13. As part of a two-stage bidding process the properties, which are offered as a package, will be sold to the best bidder by the end of May 2008.
“The two properties have been selected for sale as part of our office space optimisation plan. We have chosen a transparent bidding process which is open to national and international investors. As the properties are very attractive, we expect strong interest from prospective buyers“, says Robert Zadrazil, the BA-CA Management Board member responsible for the sale.
The bank intends and prefers to sell the two properties as a package; however, bids for a single property are also possible. As a first step, the bank will select a number of interested parties from among national and international potential investors and invite them to participate in the bidding procedure. Phase 1 will end with the submission of non-binding bids by mid-March, which will be the basis for a shortlist of interested parties. This selected number of bidders will have the opportunity for due diligence activities in respect of technical and legal details. This will be followed by the submission of a binding offer. The final decision on the sale will be made by the end of May.
Project management is performed by DOMUS Real Estate Management GmbH, a wholly-owned BA-CA subsidiary which acts as BA-CA’s trustee for the sale process. The contact for interested parties in Austria is ÖRAG Immobilien Vermittlungsgesellschaft mbH, and for international interested parties HVB (Bayerische Hypo- und Vereinsbank AG). Grohs Hofer Rechtsanwälte GmbH provide legal advice and handle the sale process.
Enquiries: Bank Austria Creditanstalt Communications Austria
Martin Halama, tel. +43 (0)5 05 05 52371;