SIGNA bankruptcy: lots of headlines, limited effects The bankruptcy of the SIGNA real estate and retail group was, without a doubt, the most spectacular collapse in Austria’s economic history. However, its impact on the market for retail properties in Austria remains relatively limited – in contrast to Germany – and is focused mainly on the immediate environment of the SIGNA properties.
The bankruptcy of the Kika/Leiner Group directly after its sale by SIGNA in the first half of 2023 had only minimal consequen-
could possibly be impaired by unattractive site fences for a longer period of time.
location alongside the Golden U are still uncertain after the recent acquisition by Stumpf Development GmbH – in any event, the future of the project is the subject of endless speculation. In contrast, there have been no effects on the Golden Quartier. It is optimally rented and still one of the top addresses for luxury labels searching for a foothold in Austria. A change in owners over the short or long term will also not alter this standing. The rental situation for the most import- ant property in SIGNA’s home market of Tyrol, the Kaufhaus Tyrol, is not without challenges. The upcoming exit of the consumer magnet Media Markt in 2025 is in no way connected with the SIGNA bankruptcy, but will make the future use of this well functioning shopping mall much more difficult.
ces because the branch locations continued to operate or were quickly transferred to a new use. The SIGNA Group had only three major retail investments in Austria when the first insolvencies occurred, including the Lamarr development project on the Mariahilfer Strasse. The problems connected with this shopping mall project, where construc-
The problems connected with the Lamarr shopping mall project, where construction was halted at the begin- ning of 2024, create a negative clima- te for the entire high street because the shopping experience could pos- sibly be impaired by unattractive site fences for a longer period of time.
tion was halted at the beginning of 2024, create a negative climate for the entire high street because the shopping experience
The prospects that this ambitious prestige project could transform the Mariahilfer Strasse into a type of second luxury
Austria | 2024/25
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