Colliers Austria was exclusively mandated by a private investor to sell a land plot including a planned residential project situated in an aspirational developing area of the 3rd district – Erdberg/St. Marx. This area features many office buildings however it also offers young urban living, high-tech research and modern commercial and office concepts that interact in a new and dynamic way. Several headquarters are situated here due to its excellent infrastructure and transport links.
The subject property is a modern residential project comprising approx. 100 apartments on 12 floors with a total effective area of about 7,990 sqm plus terraces and private gardens. Next to its lavish green areas it features a two-floor garage with 181 car parking spaces and 7 motorbike spaces.
The transaction foresaw the sale of the land plot including the project with valid planning/construction permission.
The transaction was successfully closed in mid of 2018 by means of a bidding process. Colliers was able to collect numerous offers of interested parties in a very short period. The final purchase price exceeded the initial asking price by about 20 %. That shows the quality of the project and location. The project was sold to SÜBA AG, an Austrian real estate company with more than 35 years of experience in residential development.