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BUWOG Hands "Westlife" Project in Penzing Over to Owners

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BUWOG Hands Vienna, 02 March 2015 BUWOG hands "Westlife" project in Penzing over to owners A total of 26 residential units on Missindorfstraße/Linzerstraße near Matznerpark Over 80% of the flats already sold Optimal transport connections due to proximity of tram, bus, commuter train and metro BUWOG Group has completed the "Westlife" project in the Penzing district of Vienna with a total of 26 residential units (23 of them privately financed investment and three owner-occupied flats) and will begin handing them over to the owners this coming week. At present, only five of the modern facility's flats are still available, with flat sizes ranging from 55 m² to 63 m². The biggest of the residential units still available also has a 70 m² garden area. The facility's centrepiece, the green interior courtyard, is available to all of the residents. The residential units of the project are equipped with either a balcony/loggia or terrace. The "Westlife" project's transport connections are optimal: the Hütteldorfer Straße (U3) and Hietzing (U4) metro stations are each about a ten-minute walk away, the 52 tram line stops directly in front of the residential facility on Diesterweggasse, and the Penzing commuter train station is within view. The Ameisgasse bus station (51A) completes the range of nearby public transportation options. By car the Western Motorway (A1) can be quickly reached via the Wienzeile and the Southern Motorway (A2) via Grünbergstraße. There are 21 private parking spaces available in the residential facility for the owners. In the future, as well, the relevance of the 14th district of Vienna will be significant for BUWOG group. Regarding population development and prices in privately financed ownership, enormous potential is still projected for Penzing. As a district with the second largest share of green space in Vienna, the district is popular especially with families. The next BUWOG project in the 14th district is the resource- friendly conversion of the former Siemens/Elin office building on Penzinger Straße into a planned residential project featuring around 380 units. "The Westlife project on Missindorfstraße is ideal particularly for families with children and that's why the Penzing district is perfect for us. From our modern residential facility it is possible to walk to the Schönbrunn Zoo in about ten minutes, and the infrastructure featuring a kindergarten, elementary school, pharmacy and shops is ideal", Andreas Holler, managing director of development at BUWOG Group, points out. Facts and figures on "Westlife" Address: Missindorfstr. 5, 1140 Vienna Flats: 26 residential, 23 privately financed investment and 3 owner-occupied flats with balcony, loggia or terrace. Residential units of around 49 m² to 141 m². Heating demand: 31,85 kWh/m²a (low-energy house) Transportation connections: U3, U4, S45, 51A, the 52 line BUWOG Group investment flats BUWOG Group has long responded to the considerable demand for high-quality investment flats and has become a full-service specialist in this segment. If needed, together with its partner EHL, BUWOG Group relieves clients of the effort associated with an investment flat (preparing leases, management, etc.) and ensures that owners of an investment flat can relax and enjoy their investment. About BUWOG Group BUWOG Group is the leading German-Austrian full-service provider in the residential property business and now looks back on 65 years of expertise. Its property portfolio encompasses approximately 52,500 units valued at EUR 3.5 billion (as of 31.10.2014). Currently BUWOG Group is distributed evenly in Austria and Germany. In addition to asset management (sustainable leasing and portfolio management) the entire value chain of the residential sector is covered by the sales (profitable sale of individual flats as well as properties and portfolios) and development (planning and construction of new buildings in Vienna and Berlin) segments. The BUWOG AG share has been listed on the Frankfurt, Vienna and Warsaw stock exchanges since the end of April 2014. For further information please contact: Thomas Brey LUSTIG+BREY T +43 (0) 1 233 01 23 15 M +43 676 542 39 09 [email protected] .
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