Modesta Real Estate, International Associate of Savills, has been exclusively mandated with the sale of the LAUFEN Austria site in Wilhelmsburg (Lower Austria). Just before the year end the structured bidding process has been closed. The purchaser is a private investor.
The sales process for the approx. 75,000 sqm site, including 58,500 sqm of existing buildings was initiated in March 2023 through an open bidding process. Eight bidders took part in the multi-stage tender which has been running over the past 9 months. Zöchling Immobilien GmbH (based approx. 20 km from the property) was selected as the final bidder for the transaction. The company, which specializes in real estate development, was able to convince the committees of the ROCA Group (parent company of LAUFEN Austria AG) with a coherent overall package.
As part of this package, a sale-and-lease-back agreement was negotiated, enabling LAUFEN Austria AG to keep its Austrian headquarters in Wilhelmsburg. Christian Schäfer, CEO of LAUFEN Austria AG, commented: “The name LAUFEN is strongly associated with the town of Wilhelmsburg. From the very beginning, it was a key priority for us to find a buyer with whom we could maintain this connection. In Modesta Real Estate we had a professional advisor at our
side who guided us through the entire sales process helping us to achieve the best result for LAUFEN and the ROCA Group.”
While manufacturing activities at the site were already shut down in 2020, parts of the warehouses and offices have continued to be used since then. LAUFEN Austria AG will lease back these parts of the property as part of the sale and leaseback agreement, in addition to expanding the office facilities and adding a modern building extension.
Hans Zöchling, Managing Director of Zöchling Immobilien GmbH, reveals what the plans for the rest of the site in the centre of Wilhelmsburg are: “We had a mixed-use concept in mind for the site right from the start. As specialists in demolition, recycling, building construction and civil engineering, we know from our experience what is required for the redevelopment of such a site. Our primary goal is to create a sustainable added value for Wilhelmsburg and to work closely with the municipality to achieve the best solution for the city. We are delighted to have convinced LAUFEN with our concept and would like to thank the Modesta Real Estate investment team for the transparent and professional process.”
The sold area combines two sites with a total area of approx. 75,000 sqm and a building stock of around 58,500 sqm, of which approx. 7,000 sqm are currently used by LAUFEN Austria AG. It has been agreed by all involved parties to maintain confidentiality regarding the purchase price.