Bank Austria Sells Headquarters

UniCredit Bank Austria AG is launching the sale process for its property in the first Viennese district. The building will be sold to the bidder who submits the highest offer by the end of the current year.

Willibald Cernko, Bank Austria’s CEO: “When construction work has been completed we want to concentrate all employees and the Management Board in our new headquarters on the site of Vienna’s former Northern Railway Station. We look to benefiting from major synergy effects through this relocation process: as a result of significant time savings it will also increase efficiency. The new location will further improve the quality of customer services through optimum cooperation among our employees – subsequently concentrated in one location – and speed up internal processes. In selecting the bidder for the Schottengasse property we will consider the purpose for which the building is to be used by its new owner“.

The bidding and sale process will be transparent and is planned to be concluded by the end of 2012. A selected group of potential investors from Austria and around the world has been invited to participate in the bidding procedure. Investors will receive an opportunity to conduct a technical and legal due diligence before submitting their binding offers.

The construction oft he new Bank Austria Campus is expected to commence in the second half of 2013 or in the first half of 2014. The project plans envisage construction work to be completed at the beginning of 2016, followed by the opening of the UniCredit Bank Austria Campus in the same year. This largest single project in Austria’s capital underlines Vienna’s significance as a business location. Investment costs will total about € 490 million and according to current computations of the Austrian Institute of Economic Research, the investment will provide up to 2,500 jobs.