New investor brings movement to the Lamarr department store in Vienna

New investor brings movement to the Lamarr department store in Vienna

There is news about the Lamarr department store in Vienna, which has been in the headlines since its bankruptcy. After months of inactivity, the first progress is now evident. The striking logos of the Signa Group, which until recently adorned the construction barriers, have now been replaced by the labeling of the new investor Stumpf. This purchase was carried out in October 2024 when the subsidiary of the Stumpf Group, led by Georg Stumpf, took over the unfinished project from the former Signa Group.

The takeover not only means a change in the administration, but also shows that movement in the area of ​​planned use is evident. However, the managing director of Stumpf Development GmbH, Stefan Zöser, cautiously commented on the future plans. On request, he confirmed that you are currently working on a usage concept, but do not want to reveal any details before the end of these considerations. This topic has a high level of relevance because the building is in one of the most popular shopping streets in Austria.

production costs and public interests

The financial aspects of the project are also remarkable. The purchase price for the property was 100.5 million euros, but the construction site is loaded with a total of 390 million euros. According to Stumpf, the excellent location and the central location on Mariahilfer Straße played a crucial role for the acquisition.

The original planning of the insolvent Signa founder Benko provided for a new hotel and a premium goods store, supplemented by a public park on the roof of the building. The restoration of the public park is a demand for the district policy, and it remains to be seen whether the new usage concept can meet this requirement.

In the publication, it was also mentioned that the shell has already been completed and the first assembly steps for the in -house systems were carried out. At the beginning of the sales process, the insolvency administrator had announced that many bidders had shown interest; There was talk of over 30 interested parties. The estimates regarding the cost of completing the project amount to more than 200 million euros, which indicates the size and complexity of the project.

The Lamarr department store undoubtedly remains a central topic in the urban development of Vienna. The coming months will be decisive to see how the plans concretize and what form the construction project will ultimately accept. Further information on these developments is required to pursue the progress in detail and to observe possible changes in the local economic environment. For a deeper analysis of this phenomenon, The article from www.vienna.at Insights.