Historic Postsparkasse building in Vienna officially for sale

The iconic Austrian Postsparkasse building, a masterpiece of Viennese Modernism designed by Otto Wagner, is now officially on the market. Located on Georg-Coch-Platz in Vienna's city center, the historic structure has been put up for sale by real estate services provider EHL.

EHL announced on Monday that it has received an exclusive mandate to manage the sale. The firm anticipates significant interest from potential buyers, partly due to the property's unique status and its long-term lease arrangement. The building, erected between 1910 and 1912, is a significant architectural landmark.

Currently, the Postsparkasse building is part of the bankruptcy estate of Signa Prime. However, it is leased to the Federal Real Estate Company (BIG) under a building rights contract that extends until the year 2118. This long-term lease ensures the property's continued use and stability for its current tenants.

The former headquarters of the Postsparkasse now houses various institutions involved in art, culture, research, and science, contributing to Vienna's vibrant cultural and academic landscape. The sale marks a new chapter for the landmark building, with its future use likely to be influenced by the terms of the existing long-term lease.