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TH Real Estate sells two assets on behalf of Warburgh-HIH Invest in Wiener Neudorf

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TH Real Estate, on behalf of Warburg-HIH Invest, has disposed of two properties held in the Österreich Fonds Nr. 1 investment fund. The commercial properties, which are located in Wiener Neudorf, were acquired by Bena Business Center GmbH.

Launched in 2002, Österreich Fonds Nr. 1 invests in retail, office and logistics assets in the “core” and “core- plus” sector in Vienna and elsewhere in Austria. The portfolio of the Fund currently includes another four properties.

Andreas Tintemann, Head of Valuation and Fund Management Services at Warburg-HIH Invest, comments: “The assets positively contributed to the overall return on investment and we are pleased to have sold them at the best possible time within the market cycle.”

David Moese, Managing Director and Head of Property Investment Austria at TH Real Estate, comments: “Taking an active asset management approach, we succeeded in keeping the Fund’s performance stable even during turbulent market cycles. The sale represents an important component in the wind-down of the Österreich Fonds Nr. 1 investment fund.”

The two properties are located in the “Industriezentrum Niederösterreich Süd” trading estate, located south of Vienna in the town of Wiener Neudorf. The site is one of the most important business locations nationwide, and is conveniently connected to the A2 motorway via the B11 feeder route. The asset on Ricoweg represents a two-storey office scheme plus an adjacent warehouse, with a combined lettable area of 6,900 sq m. The building on Gewerbestrasse consists of a single-storey warehouse including a two-storey section with office and auxiliary rooms, and extending over a gross lettable area of 2,000 sq m.

Disclaimer Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice.

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