Wolf Theiss advises JP Immobilien on serviced apartment project in Vienna

Vienna, 20 January 2025 – Wolf Theiss has advised JP Hospitality on the completion of the development and lease agreement for a new serviced apartment project at Wiedner Hauptstrasse 52 in Vienna’s fourth district. The property, with a site area of approximately 5,665 m², is being developed by JP Immobilien. The operator of the project will be the Dublin‑based Staycity Group, a leading European provider of serviced apartments.

The project comprises serviced apartments in three categories, with unit sizes ranging from 18.5 to 32 m². The units are designed for short‑ and medium‑term stays and can be booked for periods from a few nights up to six months. Additional communal areas, including a fitness studio and co‑working spaces, are planned. An underground garage and direct access to public transport complete the offering.

For the Staycity Group, this development will represent its second serviced apartment property in Vienna. The cooperation with JP Immobilien lays the groundwork for future projects and strengthens the positioning of the location within the segment of modern serviced apartment concepts.

Wolf Theiss acted as legal counsel to JP Immobilien on the legal structuring and implementation of the development and lease agreement, including advice on real estate matters specific to serviced apartments and handling the drafting and negotiation of the agreements to provide a sound legal basis for the operator’s long‑term use of the property.

The team advising JP Immobilien was led by hospitality and serviced apartment specialist Stefan Horn (Partner), supported by Valentin Weinold (Associate, both Real Estate).

“We are delighted about our first partnership with Staycity. Many thanks also to Stefan Horn and his team at Wolf Theiss for the excellent cooperation. He has already advised on numerous projects in the hospitality and serviced apartment sector and is a regular speaker on these topics.”

– Gebhard Schachermayer, Managing Partner of JPI Hospitality Advisory GmbH

“Our ambition is to realise projects that are both aesthetically and functionally convincing and that contribute genuine value within the urban context. This is precisely what we are implementing with the new Staycity aparthotel in Wieden. A responsible use of resources that enables long‑term, cross‑generational utilisation remains central to our approach.”

– Juergen Wagner, Head of Property Development, JP Immobilien

“The project on Wiedner Hauptstrasse reflects the growing relevance of serviced apartments as a flexible accommodation model in urban locations such as Vienna. We are pleased to have supported JP Immobilien and JPI Hospitality in the realisation and legal implementation of this development.”

– Stefan Horn, Partner, Wolf Theiss

Staycity was advised by Hogan Lovells (Marc P. Werner and Sabrina Greubel) and Binder Grösswang (Markus Uitz).