HIH Invest acquires office building in Central Vienna

HIH Invest has purchased a seven-story office and retail building located at Aspernbrückengasse 2 in Vienna's 2nd district for an institutional investor's fund. 

Aspernbrückengasse 2 in Vienna - source: Carl Anders Nilsson

Constructed in 1993, the property is fully leased and offers approximately 7,170 m2 of rentable space. This includes 6,500 m2 of modern office space, 450 m2 for catering, 120 m2 for retail, and 100 m2 of storage. Tenants also have access to 61 underground parking spaces and covered bicycle parking.

The seller, a Thalhof Immobilien company, has already completed significant modernisation efforts. These include façade refurbishment, a complete renovation of the underground parking garage, and achieving DGNB Gold certification, with confirmed compliance with EU Taxonomy standards. These upgrades have substantially improved the building's sustainability. Further plans involve modernising the foyer and entrance, and partially greening the façade and roof. The building already utilises district heating and has switched entirely to energy-efficient LED lighting. Green lease agreements will be progressively introduced with tenants.

Strategically located just a few minutes' walk from Vienna's city centre, the office and commercial building benefits from a highly desirable business location. Its flexible layout caters to modern tenant needs, and ongoing optimizations, like the entrance area refurbishment, are further enhancing the property.

Felix Meyen, managing director of HIH Invest, commented: “With this acquisition in a central Vienna location, we are securing a high-quality core asset with development potential for our investor, while further advancing our strategy in the Austrian market. The combination of an excellent micro-location, a flexible floor plan and comparatively moderate rent levels creates a sustainable income base and opens up further potential for value appreciation.”

Sebastian Pende, head of the Vienna Branch at HIH Invest, added: “Vienna is one of the most stable office property markets in Europe and offers potential for future rent increases in central locations, partly due to its comparatively moderate rent levels. High economic resilience, a strong international corporate presence and consistently strong demand for modern office space in central locations make the city particularly attractive to institutional investors. The area around Aspernbrückengasse and Praterstraße, in particular, has seen particularly strong development momentum in recent years.”

Due diligence was conducted by Dorda Rechtsanwälte, Alpha & Partners Consulting, TPA Steuerberatung, and EHL Investment Consulting. Schönherr Rechtsanwälte advised the seller on legal matters. The transaction was supported by ZOECHLING RE.