Allianz Real Estate has bought a central Vienna office asset for €94m ($104m).

The property arm of the German insurer said it bought the ‘Haus an der Wien’ office building at Vordere Zollamts Strasse, marking its return to the Austrian capital’s office market.

Annette Kröger, chief executive at Allianz Real Estate Germany, said the company’s return to the Viennese office market came as it looked to diversify its European real estate portfolio.

Allianz bought the 14,300sqm asset, near the Austrian capital’s main station, from the Signa group on behalf of Allianz group companies. 

The building is let to tenants including Group M, Der Standard, Österreich Werbung and BNP Paribas.

Morgan Stanley Real Estate Investing (MSREI) recently said it was buying the nearby 95,404sqm mixed-use Wien Mitte property.

The area has, Allianz said today, been enhanced by Wien Mitte’s shopping centre.