March 28, 2024

Warimpex successfully closes sale of Palais Hansen stake

After holding an interest in the project company for Palais Hansen located on Vienna’s Ringstrasse boulevard for over ten years, Warimpex Finanz- und Beteiligungs AG announces the sale of its 9.88 percent stake to Wiener Städtische Versicherung, which is now the 100 percent owner of the property. The sale was concluded together with the consortium partner UBM Development AG. The parties agreed that the purchase price would not be disclosed.

“Our core business involves developing projects, operating them to generate stable cash flows, and selling them as soon as the highest added value can be achieved. Palais Hansen has developed very well since 2013, and now the optimal time has come to sell our share,” commented Warimpex CEO Franz Jurkowitsch on the successful transaction.

Located in Vienna’s historic city centre, Palais Hansen was converted to a hotel for the World’s Fair in 1873, but was never used as one. In 2007, the consortium partners Porr Solutions (now UBM Development), Warimpex, Wiener Städtische Versicherung, and Wien Holding decided to undertake the careful refurbishment of the listed building. In March 2013, the jewel on the Ringstrasse boulevard was opened as a five-star hotel.

Since 1 March 2024, the Asian-based international Minor Hotel Group has been operating the hotel under the name Anantara Palais Hansen Vienna. Up until its acquisition by Minor Hotels, the hotel had been operated by Kempinski Group for more than a decade before the company withdrew from the Viennese market on amicable terms. The hotel has an area of 4,858 sqm and a net floor space of 25,655 sqm over three floors. Premium residences were built on the top two floors and sold.

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