Austrian listed property group CA Immo is investing €38 mln in the development of a new office building in Vienna.
Austrian listed property group CA Immo is investing €38 mln in the development of a new office building in Vienna.
The 13,000 m2 building on Erdberger Lände, on the former Siemens industrial site, has been designed by Paris-based architects Chaix et Morel and will be marketed under the name VIE.
The building will have five roof terraces, parking for 120 cars and separate bicycle garages. CA Immo says the location adjacent to the Donaukanal will appeal to cycle commuters as it stands at a junction of two regional cycle routes, as well as being close to the city centre and the airport.
Since 2010 CA Immo has redeveloped the Siemens industrial site as the Lände 3 quarter, refurbishing large-volume buildings and renting them out to tenants including Post AG and Robert Bosch. Two residential construction plots are being developed under the terms of a forward sale for an end investor, while construction work is scheduled to begin in the last quarter of 2015 on 220 privately financed rental apartments on Haidingergasse.
Gregor Drexler, managing director, asset management at CA Immo, said: ‘Office buildings of today and tomorrow have to respond to changing societal values. Fewer and fewer people are separating their private lives from work. This leads to a change in working hours, forms of cooperation and workflows. We are trying to prepare the perfect ground for this in our buildings.’
