Bank Austria launches the sale process for its property in Schottengasse
- The highest-bidder procedure is to lead to a sale of the property by the end of 2012
- Bank Austria will retain its Schottengasse property until the UniCredit Bank Austria Campus has been completed – nothing will change for customers and employees until 2016/17
UniCredit Bank Austria AG is launching the sale process for its property in Schottengasse 6-8. The building will be sold to the bidder who submits the highest offer by the end of the current year.
Willibald Cernko, Bank Austria’s CEO: “When construction work has been completed we want to concentrate all employees and the Management Board in our new headquarters on the site of Vienna’s former Northern Railway Station. We look to benefiting from major synergy effects through this relocation process: as a result of significant time savings it will also increase efficiency. The new location will further improve the quality of customer services through optimum cooperation among our employees – subsequently concentrated in one location – and speed up internal processes. In selecting the bidder for the Schottengasse property we will consider the purpose for which the building is to be used by its new owner“.
The bidding and sale process will be transparent and is planned to be concluded by the end of 2012. A selected group of potential investors from Austria and around the world has been invited to participate in the bidding procedure. Investors will receive an opportunity to conduct a technical and legal due diligence before submitting their binding offers.
DOMUS Facility Management GmbH, a wholly-owned subsidiary of Bank Austria responsible for property asset management, and which will act as Bank Austria’s trustee in the sale process, will handle the sale and project management. Interested investors in Austria should contact ÖRAG, and international investors should get in touch with Jones Lang LaSalle. Freshfields Bruckhaus Deringer LLP have been appointed legal consultants for the transaction.
UniCredit Bank Austria Campus:
Architect Boris Podrecca’s trend-setting design for the new location for Bank Austria’s headquarters was awarded first prize by the jury of the urban development competition at the end of 2011. It is hoped that zoning will be completed in 2012 and that all necessary approvals for construction will be available by 2012/2013. If this were the case, construction could commence in the second half of 2013 or in the first half of 2014. The project plans envisage construction work to be completed at the beginning of 2016, followed by the opening of the UniCredit Bank Austria Campus in the same year. This largest single project in Austria’s capital underlines Vienna’s significance as a business location. Investment costs will total about EUR 490 million and according to current computations of the Austrian Institute of Economic Research, the investment will provide up to 2,500 jobs.
Enquiries: Bank Austria Media Relations
Martin Halama, tel. +43 (0) 50505 52371
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