Wolf Theiss has advised The Student Hotel Group on preparations for a new 822-room flagship hotel in Vienna, including on its acquisition of real property and on the drafting and development (design and build) agreement. Hule Bachmayr-Heyda Nordberg reportedly advised the sellers and developers of the real property, the S+B Gruppe.
According to a press release from The Student Hotel, it "will open its first Austrian co-living and co-working destination on the Nordbahnstrasse, in the heart of the up-and-coming 2nd district of Vienna. Construction of the 37,878 square meter Student Hotel is expected to start in early 2018, for an opening in Q2 2020. The Student Hotel Vienna will compose of a mix of contemporary student rooms, hotel rooms, and co-living studios. The 4,000 square meters of ground floor has been designed to be open and inviting to the public and local community. It will include a wide variety of high quality services such as study and gaming areas, meeting rooms, close to 1,500 square meters of co-working facilities dedicated to start-ups and local business, restaurants, bars, gyms and sports facilities. A unique indoor amphitheater will serve both as a communal seating area or event space. The project will also have dedicated space for local and international retail brands."
The Student Hotel claims that its "co-living, co-working business model provides a unique hybrid destination for a fast-growing international community." The group plans to have 41 properties (17,550 rooms) in major European cities by 2021."
The Wolf Theiss team was led by Partner Karl Koller, supported by Associate Elias Pressler.
The Hule Bachmayr-Heyda Nordberg team was led by Partner Christian Nordberg.
Editor's Note: After this article was published, CEE Legal Matters learned that Binder Grosswang has advised UniCredit Bank Austria AG in connection with the financing of the construction of The Student Hotel Vienna. more information can be found here.
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