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FWP Advises Ikea on Acquisition of Blue Building in Vienna from OBB

FWP Advises Ikea on Acquisition of Blue Building in Vienna from OBB

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Fellner Wratzfeld & Partner has advised Ikea on its acquisition of the Blue Building at Vienna’s Westbahnhof railway station from Austrian Federal Railways (OBB). 

According to FWP, "before the Swedish group purchased the property, ten interested parties had submitted bids. The contract was awarded to Ikea not only because it had been the highest bidder but also because the Swedish furniture giant makes the railway station’s shopping mall more attractive – it has been facing declining sales in the recent past. An innovative, eco-friendly concept should make it possible to do entirely without any car traffic. Westbahnhof station provides perfect connections to the public transport system. Ikea’s new concept is unique in the world and has been adapted to the lifestyle of city dwellers. The opening date has not been fixed yet."

The FWP team was led by Partner Markus Kajaba, who commented that, "our main concern was to ensure optimally increased chances of being awarded the contract after careful examination of the legal framework in the context of the call for tenders. Thanks to the excellent cooperation among all the stakeholders, we succeeded in achieving this objective."

FWP declined to provide additional information about the identity of the firm advising OBB on the deal.