Europa Capital announces sale of Office Campus Gasometer Phase Two, Vienna (AT)

Europa Capital LLP, on behalf of the Europa Fund, is pleased to announce an agreement has been signed for the sale of OCG2, the second and final phase of its successful Office Campus Gasometer development in the Simmering district of Vienna, to Bank Austria Real Invest for approximately €75 million.

OCG VIenna

Office Campus Gasometer Phase Two.

The 28,400-m² office building provides efficient and flexible, air-conditioned office space with floor-spans of 15 meters and 18 meters. It is leased to a number of leading national and international companies including Nokia Siemens Networks, Fujitsu, LG Electronics, Wiener Wohnen, ILS Consult, Merz, ZTE Austria, Hitachi, KABA, Carmeuse, Quintiles and Reckitt Benckiser. It also has 436 car spaces and storage facilities on two underground levels.

OCG1, the first phase, was developed by Europa Fund, let on a long lease to StatistikAustria and sold to an Austrian institution on completion in 2004.

Erik Ruane, Partner and Head of Development at Europa Capital, said, "Having conceived and created an attractive investment in terms of building quality, occupier profile and tenant diversity, we are pleased to have concluded this transaction with Bank Austria Real Invest."

RED Real Estate Development GmbH was development manager of OCG2. EMCV Management Consulting GmbH and DLA Piper Weiss-Tessbach advised the vendor. BAR bareal Immobilientreuhand GmbH inter-mediated on the transaction.

Source: Finsbury

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