CORESTATE, a fully integrated investment manager and co-investor based in Luxembourg, took over the project last year in a forward deal from the Austrian project developer STRAUSS & PARTNER. The completion of the building, which was planned by the renowned architectural firm RLP Rüdiger Lainer + Partner, is scheduled for June 2019. The property will be operated by UPARTMENTS Real Estate, the micro-living specialist within the CORESTATE Group.
"Both the Vienna location and the micro-location of the Quartier Belvedere Central immediately convinced us," said Alexander Eckmann, Vice President of CORESTATE Capital Advisors GmbH, at the topping-out ceremony. "The demand for temporary housing in Vienna remains high. The QBC stands out with its central and convenient location at the new main station, an attractive mix of uses and modern architecture."
"Serviced apartments are an unstoppable and sustainable trend in the metropolitan areas of Europe. With CORESTATE we have found the perfect partner for this and the QBC offers the top location in Vienna," says Managing Director of STRAUSS & PARTNER Development Ernst Gassner.
The QBC 6.2 comprises 10 upper floors of building section 6. A total of 131 serviced apartments are being built on the more than 8,500 m² of gross floor space. Co-working areas including meeting rooms and a fitness area are located on approx. 750m ² on the ground floor. The building is part of the urban development district Quartier Belvedere Central (QBC) at Vienna Central Station. The quarter forms an attractive mix of hotels, offices and residential space distributed over six buildings with a total gross floor area of around
PORR is the general contractor for the QBC and is also responsible for the structural implementation of the QBC 6.2 building section. The construction progress is going according to plan. Completion of the entire site is scheduled for autumn 2020.
About UPARTMENTS Real Estate
The UPARTMENTS Real Estate GmbH is based in Leipzig and is a wholly-owned subsidiary of the CORESTATE Capital Group. UPARTMENTS Real Estate specializes in the micro-apartments asset class. Under the brands YOUNIQ, Linked Living and UPARTMENTS, the company currently manages around 4,200 residential units in Germany, Austria and Spain. In addition to property management, UPARTMENTS Real Estate also handles marketing and leasing for individual properties and consulting in the micro-apartments sector.
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately € 22 billion of assets under management. As a fully integrated real estate platform, CORESTATE offers its clients solid expertise in the areas of investment and fund management as well as real estate management services from a single source. The company operates internationally as a respected business partner for institutional investors and high net worth private investors. The company is based in Luxembourg and has 41 branch offices including in Frankfurt, London, Madrid, Singapore and Zurich. CORESTATE has over 560 employees and is listed on the Frankfurt Stock Exchange (SDAX).
About UBM Development AG
UBM Development is the leading hotel developer in Europe. The strategic focus is on the three clearly defined asset classes of hotel, office and residential as well as on the three core markets of Germany, Austria and Poland. With 145 years of experience, UBM focuses on its core competence, the development of real estate. From the planning to the marketing of the property, all services are offered from a single source. The shares of UBM are listed on the Prime Market Segment of the Vienna Stock Exchange.
About STRAUSS & PARTNER Development GmbH
STRAUSS & PARTNER Development GmbH, the Austrian subsidiary of UBM Development AG, stands for competence in the development, construction, financing and realization of real estate. STRAUSS & PARTNER sees itself as a project developer which participates in the bundling of real estate know-how along the entire value chain - from the conception to the realization of a project.
About PORR AG
With its more than 19,000 employees and a production output in 2017 of around € 4.7 billion, PORR is one of the largest Austrian construction companies and one of the leading infrastructure specialists in Europe. As a full-service provider, it covers all areas of the modern construction industry, from building construction to complex projects in rail, bridge, tunnel and road construction. PORR AG has been listed on the Vienna Stock Exchange as the oldest domestic stock market value since April 1869 and is today traded on the Prime Market.
Project information: www.qbc.at
Photo 1: Micro Living in QBC 6.2, Copyright: Philipp Lipiarski
Photo 2: Micro Living in QBC 6.2, Copyright: Philipp Lipiarski
Photo 3: from left to right Ernst Gassner (Managing Director, STRAUSS & PARTNER Development GmbH), Alfred Vandrovec (Branch Manager Construction Vienna, PORR Bau GmbH), Alexander Eckmann (Vice President Asset Management, CORESTATE Capital Group), Josef Kaindl (First Deputy, Vienna Favoriten) und Rüdiger Lainer (Architect, Architekturbüro RLP Rüdiger Lainer + Partner)
Copyright: Philipp Lipiarski
Photo 4: Copyright: Philipp Lipiarski
STRAUSS & PARTNER Development GmbH
Mag. (FH) Katharina Rathammer
Head of Marketing & Communication
Floridsdorfer Hauptstraße 1
+43 664 626 3830
Anke Sostmann / Tom Zeller
Executive Director / Managing Partner
Feldhoff & Cie. GmbH
Eschersheimer Landstraße 55
60322 Frankfurt am Main
Telephone: +49-69-2648677-14 / +49-69-2648677-15
Mobile: +49-159 04028505 / +49-176-10430063
Mail: email@example.com / firstname.lastname@example.org
The new premises will be open, communicative and consistently barrier-free, ensuring a modern seminar and working environment.
Since the previous maintenance costs of the historic building and park in Altmannsdorf can be invested in the educational work in the future, the move will also be connected with an expansion of training and events, announced the Director of the Renner Institute, Maria Maltschnig. "The new location is a step into the future in many ways. Not only will we move geographically closer to the city centre, but we will also be able to expand our program", says Maltschnig. SPÖ Chairman Christian Kern sees the realignment of the Renner Institute as an important step for a modern and powerful Social Democracy: "We are ushering in a new era in SPÖ education work. The modern restructuring and expansion of our offer will also be a clear signal for the opening of the SPÖ." The approximately 1000 m2 large premises in the QBC will be acquired by the project developer of the UBM Development site and the functional development will take place in cooperation with the real estate service provider CBRE.
“We are very pleased to have received these forward-looking awards. A sustainable approach to construction and operations is a priority for us in every one of our real estate developments”, said Martin Löcker, COO of UBM Development AG.
Gold and Platinum for hotel developments in Germany Three hotels for the IHG Group in Germany also received the DGNB and LEED seals in
Gold. The Holiday Inn Express “Klosterstraße” in Berlin and Gateway Gardens in Frankfurt were awarded the DGNB Gold certificate, while the hotel in Frankfurt also received LEED Gold certification. The Holiday Inn Express Munich City West was judged to be particularly outstanding; the project was awarded DGBN Platinum. In addition to the highest standards of technical quality, such as the fireproofing, soundproofing and
thermal insulation, as well as the ease of maintaining and dismantling the property, an important role was played by the process quality from the planning phase through to preparing for operations.
UBM Development AG is the leading hotel developer in Europe. The strategic focus is on the three clearly defined asset classes Hotel, Office and Residential and the three core markets of Germany, Austria and Poland. With 144 years of experience, UBM focuses on its core competency – developing real estate. UBM has been listed on the prime market segment of the Vienna Stock Exchange since August 2016. www.ubm.at
Head of Investor Relations & Corporate Communications
UBM Development AG
Tel.: +43 (0)50 626-1763
Urban apartments for the modern lifestyle
The new apartments will be designed for single to four-person households and equipped with ample fixtures and fittings: kitchen with electrical appliances, underfloor heating, external sun screening and controlled room ventilation. They will measure between 36 and 75 square meters. Masterminded by architect's studio Rüdiger Lainer, the real estate project features spacious outdoor areas with planters that transform the building into an eloquent combination of nature and urban development.
A thriving new trendy neighbourhood – perfect infrastructure and 20,000 jobs
Alongside green areas, such as the Helmut-Zilk-Park and Belvedere Schlosspark, the community's prime location close to the Vienna's city centre and next to Vienna's central railway station with excellent transport links defines its appeal. The integrated office areas, educational and childcare facilities, shopping centres (bahnhofcity Vienna), hotels and cultural venues located directly on the doorstep add to the attractiveness.
A large line-up of guests at QBC
STRAUSS & PARTNER, the Austrian subsidiary of UBM Development, and PORR, the building contractor in charge, invited to QBC at Vienna's Central Station for the toppingout ceremony. As tradition has it, the developers handed over the topping-up payment to Porr, the general contractor, during the celebration held under the motto "Oktoberfest" once the youngest construction site worker had delivered his topping-up address. The event was attended by Ernst Gassner (managing director of STRAUSS & PARTNER
Development), Karl-Heinz Strauss (CEO of PORR), the new chairman of Favoriten district Marcus Franz and his deputy Josef Kaindl.
For further information on the project go to: www.qbc.at
Image 1: QBC 6.1 bare brickwork © Philipp Lipiarski
Image 2: External visualisation QBC 6.1 (residential) © ZOOM VP.AT
Image 3: from left to right: Kaindl, Strauss, Gassner © Philipp Lipiarski
If copyrights are indicated, the images may be used free of charge for press purposes.
STRAUSS & PARTNER Development GmbH, the Austrian subsidiary of UBM Development AG, stands for expertise in developing, building, financing and selling real property. As a committed project developer, STRAUSS & PARTNER Development GmbH bundles its real estate know-how in order to leverage its competencies in technical, commercial and legal matters at all stages of the value chain. Its services span the entire
value chain in real estate development - from the idea to project handover.
UBM Development AG is the leading hotel developer in Europe. Its strategic focus is on the three clearly defined asset classes - hotels, offices and residential buildings - and the three core markets Germany, Austria and Poland. With 144 years of experience under its belt, UBM focuses
on its core competency: the development of real estate. UBM shares were included in the prime market segment of the Vienna Stock Exchange in August 2016. www.ubm.at
With over 18,000 employees on its payroll and a production output of roughly EUR 3.9 billion in 2016, PORR currently ranks among Austria's biggest building contractors and is a leading infrastructure specialist in Europe. As full-service provider, the corporation covers the entire gamut of modern construction industry, from structural engineering to complex projects in railway, bridge, tunnel and road construction. As one of the first quoted Austrian companies, PORR AG has been listed on the Vienna Stock Exchange since April 1869 and now trades in the prime market segment.
For inquiries please contact:
Head of Marketing & Communication
STRAUSS & PARTNER Development GmbH
phone: +43 (0)50 626-3830
mobile: +43 664 626 38 30
Head of Investor Relations & Corporate Communications
UBM Development AG
phone: +43 (0)50 626-1763
A vibrant, diverse city quarter
With the topping-out ceremony for QBC 3 and 4, half of the QBC construction sites
have reached the final stage. The AccorHotels Group opened the new 3-star ibis hotel
already in June 2017 in QBC 5, the 4-star hotel NOVOTEL opening will follow in July.
In December 2017, Autobank, the financial service provider Schwabe, Ley & Greiner,
TIPCO Treasury & Technology, VMG Versicherungsmakler, VTG Rail Europe and Your
Office will be moving into their new, top-modern offices in QBC 3. Cohens Smartfood
will be opening its second restaurant in Vienna on the ground floor. In early 2018,
BDO will move its headquarters from the first district to its new office building QBC 4.
WKO Inhouse GmbH will also be moving to the new office complex.
Platinum certification and top infrastructure
QBC provides plenty of feel-good space. A special highlight of the two eight-floor buildings
are the roof terraces with a view overlooking Vienna, accessible to all tenants. Both
construction projects were platinum pre-certified by DGNB (German Sustainable Building
Council) and ÖGNI (Austrian Sustainable Building Council) in October 2015 for their
sustainable real estate development. The connection to the Central Station is ideal and
only a few steps away. Construction is being carried out by PORR Bau GmbH, which was
awarded the general contractor services contract.
High-carat guests at QBC
On Thursday, STRAUSS & PARTNER Development, the Austrian subsidiary of UBM Development AG, PORR, BDO, and S IMMO AG invited guests to the topping-out ceremony
in QBC at Vienna Central Station. Attended by roughly 200 guests, the event included
some high-profile dignitaries such as UBM Board Member Claus Stadler, Karl-Heinz
Strauss (CEO of PORR), Josef Kaindl (Deputy District Director of Vienna's 10th district),
Bernd Himmler (Head of Project Development S IMMO AG) and Peter Bartos (Managing
Director and Partner of BDO).
Image 1: f.l.t.r. Bernd Himmler (Head of Project Development S IMMO AG), Clarissa Leher (Head
of Project Development QBC), Ernst Gassner (Head of Project Development QBC und Managing
Director of Strauss & Partner Development), Peter Bartos (Managing Director and Partner of BDO),
Josef Kaindl (Deputy District Director of Vienna's 10th district), Alexandra Brandauer (Head of Project
Development QBC 3) und Karl-Heinz Strauss (CEO of PORR) © Philipp Lipiarski
Image 2: External visualisation QBC 3 (office) © ZOOM VP.AT
Image 3: External visualisation QBC 4 (office) © ZOOM VP.AT
If copyrights are indicated, the images may be used free of charge for press purposes.
STRAUSS & PARTNER Development GmbH, the Austrian subsidiary of UBM Development
AG, stands for expertise in developing, building, financing and selling real property.
As a committed project developer, STRAUSS & PARTNER bundles its real estate
know-how to leverage its competencies - from the project idea to its implementation -
at all stages of the value chain.
UBM Development AG is the leading hotel developer in Europe. The strategic focus is
on the three clearly defined asset classes - hotels, offices and residential buildings - and
the three core markets Germany, Austria and Poland. With 144 years of experience under
its belt, UBM focuses on its core competency: the development of real estate. UBM
shares have been traded in the prime market segment of the Vienna Stock Exchange
since August 2016.
With over 16,000 employees on its payroll and a production output of roughly EUR 3.9
billion in 2016, PORR currently ranks among Austria's biggest building contractors and
is a leading infrastructure specialist in Europe. As full-service provider, the corporation
covers the entire gamut of modern construction industry, from structural engineering to
complex projects in railway, bridge, tunnel and road construction. As one of the first
quoted Austrian companies, PORR AG has been listed on the Vienna Stock Exchange
since April 1869 and now trades in the prime market segment.BDO
As your local partner in the global BDO network, we will find individual solutions for you
quickly and efficiently, in the areas of audit & assurance, tax & accounting, advisory and
consulting. You benefit from a dynamic company with a heritage that guarantees you a
personal point of contact for all your questions. These contacts will be by your side with
dedication and are responsible for coordination of our experts. Both in Austria and
worldwide in more than 158 countries.
S IMMO AG
S IMMO AG is a listed real estate investment company headquartered in Vienna. The
company invests exclusively in the European Union, focusing on Austria, Germany, and
the CEE. The S IMMO real estate portfolio is comprised mainly of offices, shopping centres
and hotels, and a supplementary part is made up of residential properties. S IMMO
stands for a high-yielding and high-cashflow portfolio and for profitable growth. The
company's strategic core shareholders are Erste Group Bank AG and Vienna Insurance
For inquiries please contact:
Head of Investor Relations &
UBM Development AG
Tel: +43 50 626-1763
“The sale of QBC 3 can practically be seen as an early exit, as we only laid the foun-dation stone for the office building in June 2016”, says Michael Wurzinger, COO of UBM Development AG. “The recent sale reflects the quality of our development as well as the location selected for the project”. Ernst Vejdovszky, Chairman of the Board of S IMMO AG adds: “We are delighted to be able to report another success story on Quartier Belvedere Central. We are convinced that this site will be a source of great pleasure in future for us, as well as for Union Investment”. “The brand new, urban forms of living are adding value to the sites around central sta-tions across Europe significantly”, says Philip La Pierre, Head of Investment Management Europe at Union Investment Real Estate GmbH. “This trend can also be seen in the current quarter development in Vienna. This is why we have proactively secured the first-class office building QBC 3”. After the handover, Union Investment will manage the property in its public real estate fund UniImmo: Global.
QBC 3 – an office development at the highest level
On an area of around 7,600 m2, QBC 3 will offer its tenants office space that can be flexibly divided and is flooded with light, across a total of eight floors. The office development by the partners UBM and S IMMO provides an intelligent interior concept for a workplace with the best infrastructure and fittings. Retail space and restaurants are found on the ground floor of QBC 3. A special highlight of QBC 3 is the roof terrace on the eighth floor with views over Vienna, which will be accessible to all tenants. In this early phase, around 30% of the space has already been let out and a further 53% has been reserved. Tenants who have come on board include the Austrian subsidiary of the logistics service group VTG (VTG Austria Ges.m.b.H), the provider of office and conference facilities Your–Office Managed Business Services GmbH, and the independent insurance broker VMG. Sustainability is also a top priority for QBC 3 – the property was pre-certified in Platinum by DGNB and ÖGNI in October 2015.
Impact of the transaction on UBM The forward deal transaction will not have a direct impact on net debt or total output in 2016. The purchase price will only take effect at the point of handover in the course of the fourth quarter of 2017.
Effective time period Q4/2017
Net sales proceeds* EUR 30 mn
Effect on total output 65% (consolidated under equity method)
Effect on revenue None (equity method, share deal)
Effect on net debt 65% of profit and shareholder capital (equity method)
* Asset Value; UBM stake EUR 19.5 mn
Doralt Seist Csoklich served as a consultant for UBM Development AG and S IMMO AG. Union Investment was advised by Wolf Theiss.
UBM Development AG is a pure player focusing on real estate development. The strategic focus on the clearly defined three asset classes of Hotel, Office and Residential is complemented by the concentration on the three home markets of Germany, Austria and Poland. In 2015 UBM significantly expanded its business and achieved new records in total output and earnings for the third year in a row. S IMMO AG As Austria’s first listed real estate investment company, S IMMO AG has been synonymous with expertise, a high-return portfolio and profitable growth since 1987. The company invests in commercial property (office, retail and hotel) and residential property in four regions (Austria, Germany, Central and South-Eastern Europe). The strategic core shareholders of S IMMO AG are Erste Group and Vienna Insurance Group.
Union Investment is one of Europe’s leading real estate investment managers and specialises in open property funds for private and institutional investors. Union Investment manages assets of around EUR 30.9 bn in its real estate funds. In the field of open property funds Union Investment is currently number one among investment funds in Germany. Union Investment offers its investors a stable and effective platform, combining a strong performance in property purchases with a proactive asset management approach. The diversified property portfolio spans 24 countries and five continents and consists of more than 350 properties in the segments office, hotel, retail and logistics.
Hotels as a good investment alternative
The sale of QBC 5 to Amundi Real Estate is a further proof of the growing appeal of the asset class Hotel as an investment. Michael Wurzinger, COO of UBM Development AG explains: “With the forward deal for QBC 5, we have succeeded in taking another im-portant step in our sales strategy, increasing the planning security for UBM in the next year.”
“The acquisition of these properties confirms our European diversification and
increases our position on the hotel asset class with secured long term cashflows”, adds Hubert Joachim, Head of International Investment at Amundi Real Estate.
Impact of the transaction on UBM
Because of its “forward nature”, the transaction will not have a direct impact on the net debt or total output in 2016. The purchase price will only take effect at the point of handover in the second half of 2017.
Effective time period H2/2017 (expected)
Net sales proceeds* EUR 85 mn
Effect on total output 100% (consolidated in full)
Effect on revenue None (share deal)
Effect on net debt 100% (reductive impact)
* Net Asset Value
Quartier Belvedere Central – not just business as usual
As one of the largest urban development projects in Europe, the Quartier Belvedere is a trailblazer for sustainable, holistic urban development. The new city quarter offers con-temporary mobility thanks to its proximity to the newly built Central Station and is also a living space in a central location with complete urban infrastructure and a piece of na-ture. In terms of architecture, QBC impresses with its diversity and campus-style struc-ture.
Eisenberger & Herzog Rechtsanwalts GmbH acted as consultants for UBM Development AG. Amundi was advised by DORDA BRUGGER JORDIS Rechtsanwälte GmbH and EHL Investment Consulting GmbH.
UBM Development AG is a pure player focusing on property development. The strategic focus on the clearly defined asset classes of Hotel, Office and Residential is complement-ed by the concentration on the home markets of Germany, Austria and Poland. In 2015 UBM managed to significantly expand its business and achieved new records in output and earnings for the third year in a row. Amundi is one of the world’s leading asset managers, with over 1,000 billion euros at 30 September 2016 of assets under management worldwide. Amundi is actively involved in investment and real estate markets across the globe and has offices in more than 30 countries.
AccorHotels is a leading global travel and lifestyle group, as well as a digital innovator, and offers unique experiences in more than 4,000 hotels, resorts and residences along with more than 2,500 highly exclusive private apartments. With its double competencies as an investor (HotelInvest) and hotel operator (HotelServices), AccorHotels is repre-sented in 95 countries. With its unrivalled collection of brands and rich history over five decades, AccorHotels and its global team, consisting of more than 240,000 dedicated employees, gives an unconditional promise: Feel Welcome. Every guest also has access to its renowned loyalty programme – Le Club AccorHotels. AccorHotels is known at every location for its commitment to society and sustainable planning as well as its solidarity in the course of the comprehensive programme PLANET 21. Accor SA is listed on the Eu-ronext in Paris (Code ISIN: FR0000120404) and on the OTC market in the USA (Code ACRFY). In Austria Accor is represented with 32 hotels under the brands Sofitel, MGal-lery, Novotel, Suite Novotel, Mercure, adagio, ibis, ibis Styles and ibis budget.
Scheduled completion in summer 2017
On the construction site QBC 5 the Austrian construction company PORR Bau GmbH currently realizes the real estate project by STRAUSS & PARTNER Development for the AccorHotels-Group consisting of two hotels under the brands ibis and novotel. The construction is progressing according to plan. “QBC does not only set new standards for future, urban construction with its campus-like structure and the elaborated utilization mix, but for this very reason challenges us in its development and implementation. We are therefore all the more delighted that after one year of construction the shell structure could now be completed. We are proud that we are now reaching the final phase of the first construction field at QBC”, says Claus Stadler happily.
“With today’s topping-out ceremony we are pleased to complete another phase in the realization of two new AccorHotels in Vienna. We are proud to bring the two renowned AccorHotels brands, Novotel and ibis, in a double pack, to the Danube metropolis to one of the most important transport hubs, the brand-new central station. We are convinced that our modern restoration concepts will enrich the environment and will enthuse not only tourists but also people from Vienna. With the two new openings, AccorHotels disposes of more than 20 sites in the Austrian capital” says Yannick Wagner.
Perfect location at the central station in Vienna
With the 3-stars ibis hotel and the 4-stars novotel Hotel the AccorHotels-Group will create a comprehensive overnight stay offer for families, city and business travelers. Overall, 576 state-of-the-art rooms and an approx. 1,800 square meters-large event area with ballroom and conference rooms will be established on a total flat area of 27,300 square meters. With the construction of the two hotels, STRAUSS & PARTNER Development and the AccorHotels-Group reacted on the continuously growing number of overnight stays in Vienna and with the QBC they found a perfect location near the new main railway station of Vienna. The realization of the shell construction was realized by PORR, who received the general contractor assignment.
The new city quarter QBC, being developed by UBM subsidiary STRAUSS & PARTNER and set for completion by the end of 2018, is a dynamic urban development project encompassing quality working and living, economic efficiency and sustainability. On a plot of over 25,000 sqm, the UBM Group is building attractive, high-quality homes, offices and hotels with a gross floor area of around 130,000 sqm. The office space of QBC 4 guarantees the highest possible flexibility and can be adjusted to meet the user’s specific requirements. QBC 4 is being built to the latest standards and has already been certified to ÖGNI/DGNB in the Platinum category. The foundation stone should be laid before summer 2016. Architects Jabornegg & Pálffy are responsible for the design of QBC 4.
QBC 4 as the new “home to BDO”
BDO will thereby be moving from Vienna’s first district, the former Austrian headquarters, to the urban development hotspot of Vienna. Helmut Kern and Peter Bartos, Management Board members of BDO, see massive potential in the change of location: “For us the key factors in choosing our new BDO office was the central location with fast links to the city and the airport, as well as the proximity to the Central Station and the site’s exceptional infrastructure”. Bartos added: “The growth course we have maintained for years in Austria was also a factor in this strategic decision. We are confident that the new office location will have a positive impact on our corporate growth”.
UBM continues success strategy
UBM believes the early sale of its first QBC lot is a testament to the current corporate strategy. The listed property developer UBM is positioned as a trade developer and pursues a strategy of profitably selling off projects to investors as early as possible. Given the current pressure on investors caused by the prevailing environment of low interest rates, real estate represents an alternative with very good returns.
UBM Development AG is Austria’s leading property developer. The company enjoys broad diversification and covers the entire value chain from zoning and planning permission to planning, marketing and construction right through to sales. The focus is on the markets of Austria, Germany and Poland and the asset classes Residential, Hotel and Office. The company has been listed on the Vienna Stock Exchange since it was founded 143 years ago and almost no other company has such a rich history, especially in the
real estate sector. The key success factors are attention to detail and sustainability, along with architectural quality and excellent construction.
STRAUSS & PARTNER Development GmbH is synonymous with expertise in developing, building, financing and selling properties. STRAUSS & PARTNER Development GmbH has been a wholly owned subsidiary of UBM Development AG since the start of 2015 and handles everything related to project development in Austria in its role as a regional operating company. This covers every phase, from the idea of a project through to its sale. STRAUSS & PARTNER Development GmbH sees itself as a project developer which participates in technical, commercial and legal aspects through bundling its property knowhow across the entire value chain.
Images: Front view QBC 4 © ZOOM VP.AT
The image is free of charge for press purposes as long as the copyright is shown.
UBM Development AG
Head of Investor Relations and Corporate Communications
Originally the project QBC was initiated by a consortium formed by ERSTE GROUP Immorent, S IMMO AG and STRAUSS & PARTNER. Then in the end of 2013 STRAUSS & PARTNER became the main responsible of the development. As contractually agreed the acquisition of the first two project companies was finalized in the beginning of 2015. On November 24, 2015 the remaining four project companies were adopted by STRAUSS & PARTNER. S IMMO AG participates with a 35% share in the individual project companies and thus remains a trusted partner in the project. With the finalization of these necessary steps the next development steps of QBC and the further structural implementation are secured.
Claus Stadler, COO of UBM Development AG and CEO of STRAUSS & PARTNER says: "The intention of S IMMO, a leading, publicly traded real estate company, to participate with 35% in the development of the QBC, speaks for the location quality, which is situated directly at the new Vienna Central Station." Stadler adds: "The now finalized contractual participation of S IMMO is also consistent with our strategy to – at an early stage- cooperate with strategic partners."
Friedrich Wachernig, CEO of S IMMO AG, adds: "We believe as a real estate investor in this exciting and promising location in our hometown. STRAUSS & PARTNER is a reputable and competent company and therefore the perfect partner for us. Together, we will realize the full potential of this development project. "
Development of QBC runs better than expected
The ÖBB (Austrian railway) headquarters, the full commissioning of the Vienna Central Station, as well as the relocation of ERSTE GROUP in their new headquarters in the beginning of 2016 confirm the very positive and rapid development of the area "Quartier Belvedere. This new district part is already very popular among the local population and, although still in construction phase, attracts the interest of international investors. The sales talks for both office spaces as well as for privately financed apartments extend beyond our expectations. The assumption of UBM Development AG that “Quartier Belvedere Central" will be a large-scale and successful neighborhood development is thus confirmed.
A total of 130,000 square meters of gross floor area accounts for about two-thirds of office and retail space. Here condominiums, serviced apartments and two hotels with 577 rooms operated by Accor Hotel Group will be built here in the beginning of 2017. Following the groundbreaking ceremony for the two hotels in July 2015, the realization of the next construction phase of the first office space and the privately financed condominiums is already foreseen for spring 2016. The completion of the office properties in 2018, situated right at the Wiener Gürtel (Vienna beltway), will mark the final stage of the QBC development and will be finished in 2018.
UBM Development AG is regarded as the leading real estate developer in Austria. The company covers the entire value chain from repurposing and planning permits to design, marketing and construction management, right through to sales. The focus is on the home markets Austria, Germany and Poland, as well as the asset classes hotel, residential and office. In Austria UBM is represented by its subsidy STRAUSS & PARTNER Development GmbH, in Germany by Münchner Grund Immobilien Bauträger GmbH and in Poland by UBM Polska Sp. z o. o. Real estate developments in the Czech Republic, the Netherlands and France contribute to diversify the company´s portfolio. UBM has been listed on the Vienna Stock Exchange since its establishment 142 years ago. Only few companies have such a rich history, especially in the real estate sector. The key factors in the firm's success are attention to detail and sustainability, along with architectural excellence and high-quality construction.
S IMMO AG: Since 1987 S IMMO AG, as the first publicly traded real estate Investment Company in Austria, stands for expertise, a profitable portfolio and successful growth. The company invests in commercial (office, retail and hotel) and residential properties in four regions (Austria, Germany, Central and Eastern Europe). The strategic core shareholders of S IMMO AG are ERSTE GROUP and Vienna Insurance Group.
New concept Ibis and Novotel for the first time in Austria
A 3-star hotel (Ibis) and a 4-star hotel (Novotel) from the AccorHotels Group, with a gross floor area of around 27,300 square meters and a total of 577 rooms as well as a 1,800 m² event area with a ballroom and conference rooms, will be built on plot 5 by spring 2017. With the two new hotels, the AccorHotels Group presents their concept for a new generation of hotels in Austria for the first time. Under the motto "feel welcome", the new hotels include innovative design and an exclusive food and beverage concept.
With the construction of the two hotels, Strauss & Partner Development GmbH and the AccorHotels Group have reacted to the annually-increasing number of overnight stays in Vienna and found a perfect location at the new Vienna Central Station with the QBC!.
Kaindl: "QBC is a highlight in the streetscape"
As one of the largest urban development projects in Europe, the Quartier Belvedere stands for future-oriented, sustainable and holistic urban development. Due to its direct proximity to the newly constructed main railway station, the new city quarter offers modern mobility whist providing a working and living space in a central location with complete urban infrastructure and green spaces. With the QBC, Strauss & Partner Development GmbH are setting a clear statement and responding to today’s changing conditions. Work, housing, mobility and relaxation are combined, thus creating additional quality of life. About two-thirds of the total 130,000 square meters of gross floor area account for office and retail space. To keep the quarter lively after business and office hours, various restaurants and bustling ground floor zones, as well as privately financed condominiums and two hotels from the AccorHotels group will also be built. The total development around the new central train station is a big step towards creating a new center for the city of Vienna. "The goal of all involved in the project is to create a common, future-oriented project and to build the QBC as a new gateway to the city in the shortest possible construction time and the highest quality. High professionalism, a great deal of experience and mutual trust are guarantors for smooth cooperation!" concludes Karl-Heinz Strauss to sum up the project.
Construction diary informs of construction progress
In the next few days, a webcam linked to the QBC Facebook page will also be installed on the site of the QBC, so that interested parties can observe the construction progress at any time. Follow us at: www.facebook.com/QuartierBelvedereCentral
About Strauss & Partner Development GmbH
Strauss & Partner Development GmbH stands for competence in development, construction, financing and disposal of real estate. Since the beginning of 2015, Strauss & Partner Development GmbH is a 100% subsidiary of UBM Realitätenentwicklung AG and deals with the entire scope of project development as a national operational company in Austria. This includes all phases of a project, from initial concept to sale. Strauss & Partner Development GmbH regards itself as a project developer who through the bundling of real estate know-how participates along the entire value chain, both in technical and commercial, as well as in legal terms.
AccorHotels is a group of companies which stands for top hospitality and is driven by one promise: Feel Welcome. The group’s 180,000 employees take care of thousands of guests in 3,700 hotels in 92 countries every day.
AccorHotels, the world's leading hotel operator, consists of two entities and provides its dual expertise as a hotel operator and franchisor (HotelServices), as well as an owner and investor (HotelInvest) to its clients and partners. Accor permanently continues to develop its concepts in the luxury/upscale segment (Sofitel, Pullman, MGallery, Grand Mercure, The Sebel), in the mid-scale segment (Novotel, Suite Novotel, Mercure, Mama Shelter, adagio) and in the economy segment (ibis, ibis Styles, ibis budget, adagio access and hotelF1) to optimally meet the expectations of business travelers and holiday makers throughout the world. Social commitment, solidarity and sustainable business behavior has been an essential part of the corporate culture of the company for nearly 50 years and is also being implemented as part of the PLANET 21 program.
The group has a powerful digital structure, especially the accorhotels.com booking platform, and the loyalty program Le Club AccorHotels. Accor is represented with 32 hotels in Austria under the brands Sofitel, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, ibis Styles and ibis budget.
ACCOR SA is on the Euronext Paris stock exchange (ISIN code: FR0000120404) and is listed on the OTC market in the USA (Code ACRFY).
Picture caption: f.l.t.r. Claus Stadler, Christian Giraud, Josef Kaindl, Karl-Heinz Strauss
Photo credit: © astridknie
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