Clean finish for 75,000 m2 Austrian bathroom ceramics site

The 75,000 m2 site includes 58,500 m2 of existing buildings and attracted eight bidders when the process kickstarted in March. Handled by Modesta Real Estate - an affiliate of Savills - multiple stages have been completed culminating in its sale nine months later.

Roca Group, parent company of bathroom ceramics manufacturer Lauren Austria, agreed a leaseback so that the manufacturer could keep its Austrian headquarters. Zöchling Immobilien is based just 20km from the property, a detail not overlooked by the seller.

Christian Schäfer, CEO of Laufen, said the company's name was strongly associated with the town of Wilhelmsburg. 'From the very beginning, it was a key priority for us to find a buyer with whom we could maintain this connection. In Modesta Real Estate we had a professional advisor on our side who guided us through the entire sales process helping us to achieve the best result for LAUFEN and the ROCA Group.'

While manufacturing activities at the site were already shut down in 2020, parts of the warehouses and offices have continued to be used since then. LAUFEN Austria AG will lease back these parts of the property in addition to expanding the office facilities and adding a modern building extension.

Hans Zöchling, MD of Zöchling Immobilien, revealed plans for the rest of the site which involve a mixed use concept.

Zöchling Immobilien specialises in real estate development but was initially established as a transport company in 1954.

'As specialists in demolition, recycling, building construction and civil engineering, we know from our experience what is required for the redevelopment of such a site. Our primary goal is to create a sustainable added value for Wilhelmsburg and to work closely with the municipality to achieve the best solution for the city. We are delighted to have convinced LAUFEN with our concept and would like to thank the Modesta Real Estate investment team for the transparent and professional process.'