United Group is delighted to announce its second real estate investment in Vienna, further solidifying its presence in the Austrian market.
The newly acquired property is located in the Penzing district, near the iconic Schönbrunn Palace. This prominent building currently features retail and café spaces on the ground floor, with residential apartments above. United Group has secured planning permission to renovate the existing apartments and develop an additional nine modern units in the attic floors. These new apartments will boast stunning views of the Schönbrunn Palace and its lush gardens, offering a unique blend of historic charm and contemporary living.
Edmund Gatt Baldacchino, CEO of United Group, commented:
“We are excited to embark on this project and continue scaling our investment footprint in Austria. This marks our second acquisition in Vienna and involves a historic building, over 100 years old, which presents a remarkable opportunity for refurbishment. By enhancing the property, we aim to unlock its full potential and deliver increased value to this prominent location.”
