Exclusive Development and Renovation Property - Short-term Rental Possible

1. Property Description & Investment Highlights

A classic Viennese Gründerzeit apartment building from the year 1900 is offered for sale in one of the most sought-after locations of Vienna’s 18th municipal district (Währing). The property offers a first-class investment opportunity for developers, project developers and institutional investors.

The established development concept provides for the comprehensive refurbishment of the existing building, the attractive expansion of the attic, the subsequent construction of a passenger lift, as well as the implementation of balcony and terrace areas.

• Secured project basis: An already available, legally binding building permit for all essential development measures significantly reduces planning risk and time-to-market.
• Floor area potential: The planned total usable floor area amounts to approximately 572.97 m², distributed across ten units over five floors.
• Exclusive outdoor areas: The space offering is complemented by approx. 58 m² of terrace and balcony areas as well as a quiet inner courtyard garden of approximately 280 m².

2. Location & Quality of the Location

Währing is one of Vienna’s most traditional and sought-after residential districts. Representative Gründerzeit architecture, established infrastructure and a high quality of life characterize this location.

• Medical cluster: A major driver of footfall and demand is the immediate proximity to the General Hospital of the City of Vienna (AKH), the Medical University of Vienna and St. Anna Children’s Hospital. This generates continuous demand from doctors, research staff, visiting professors and patients’ relatives, with strong purchasing power.
• Mobility: Access to public transport is optimally provided by underground line U6 (Michelbeuern-AKH station) as well as tram lines 9, 42 and 43.
• Infrastructure: Local suppliers, established restaurants, educational institutions and diverse local recreation areas are located in the immediate vicinity.

3. Building-Law Framework Conditions & Development Potential

• Zoning: Mixed-use building area (GB), building class III, with a height restriction of 13 metres.
• Strategic advantage (No residential zone): The property is located outside a designated Viennese residential zone. As a result, the restrictive legal obstacles of Vienna’s residential-zone protection do not apply, making highly attractive commercial-use concepts (e.g. serviced apartments, business apartments, medical living or aparthotel structures) economically attractive to assess.
• Approval status: The legally binding building permit covers the attic expansion, the lift and courtyard-facing balconies. The remaining term of the permit is approximately two years (a detailed deadline review as part of due diligence is recommended).

4. Property & Floor Area Overview

• Parameter: Details
• Location: 1180 Vienna, Währing
• Building type: Classic Gründerzeit apartment building
• Year of construction: approx. 1900
• Planned total usable floor area: approx. 572.97 m²
• Planned units: 10 units
• Floor structure: Ground floor, 1st–2nd upper floors, 1st–2nd attic floors
• Balconies & terraces: approx. 58 m²
• Inner courtyard garden: approx. 280 m²
• Basement area: approx. 40 m² (usable)
• Passenger lift: Approved and planned as part of the expansion
• Land-use designation: Mixed-use building area (GB), BK III (max. 13 m)
• Building permit: Legally binding (remaining term approx. 2 years)

5. Development & Utilization Strategies

Scenario A – Serviced Apartments / Medical Living (Recommended)

Positioning as a high-end apartment building for medical staff, international academics and business travellers. Equipped with a modern, digital operating concept, above-average property-specific returns can be generated due to the proximity to the AKH.

Scenario B – Refurbishment & Individual Sale (Parfizierung)

Comprehensive revitalization of the apartment building, high-quality attic expansion and subsequent utilization as condominiums. The combination of historic substance, modern attic units, lift and outdoor areas serves the strong demand for upscale Viennese old-building property culture.

Scenario C – Long-Term Holding (Buy & Hold)

Sustainable refurbishment and strategic integration into a real estate portfolio. Ideal for institutional investors and family offices seeking long-term, inflation-protected cash flows in an A-location.

6. Investment Conclusion

This refurbishment and development project combines the architectural charm of Vienna’s Gründerzeit with an advanced, legally secure project basis. The combination of a top location in Währing, the removal of the residential-zone restriction, an existing building permit and flexible exit options makes this property a notable investment opportunity.

• Further documents: Detailed submission plans, the legally binding building permit and supplementary property data will gladly be provided to qualified interested parties after signing a confidentiality agreement (NDA).
• Legal notice: All information is based on the documents provided by the seller. Subject to changes, errors and prior sale. All key figures, floor areas and legal framework conditions must be reviewed as part of the interested party’s own due diligence.

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Please note that a family or economic relationship exists between the broker and the third party to be brokered.

The broker is acting as a dual broker.