The Bank Austria Kunst forum ends on 31 August. The renowned exhibition Abramović will take place in the autumn in the Albertina Modern. For years, the Signa from Pleitier René Benko had rented the building with a remarkable 2.5 million euros per year and in exchange for this sponsorship had flowed in height.
The real estate speculator had bought the house in the center of Vienna with 55 million euros and the value in the meantime was even 160 million euros. In any case, the evaluation also drove the expensive rent that Bank Austria had to switch to Signa for the Art Forum building for years: 2.5 million euros flow annually, with a view to the size of 1200 to 1300 square meters, that is a good 150 euros per square meter – a proud price. Even for a top location in which around 30 euros is paid for office spaces.
But the Signa was equated by sponsoring more than 2.5 million euros per year, according to the available documents. A kind of zero-sum game as a win-win situation and Benko’s joy was also an attractive assessment in the Signa books.
160 million euros rating
Benko was never able to realize the 160 million euros with which the property was assessed in the non -transparent Kingdom of the Financial Juggles. After the Banda bankruptcy, the higher Austrian industrialist Josef Rainer struck. According to the “Krone” information, his company paid slightly less than 100 million euros for the house in 2025, in which the Constitutional Court was also housed. Since then, the future of the Art Forum has been unclear. Bank Austria terminated the lease. The efforts to win another sponsor for the survival of the cultural institution were ultimately unsuccessful. Everything must be transferred on 31 August.
The search for a new tenant for the empty space runs on two floors. According to reports, a retail group from the fashion industry should have good cards. It is also said that an international food group is interested.
Constitutional judges can remain until 2062
Even the Constitutional Court once had efforts to use the areas for its own exhibitions – but this variant is extremely unlikely in view of the savings pressure of the state bodies. The Constitutional Court has been rented in the building with a 50 -year contract since 2012.
The basis of the Innviertel -entrepreneur Josef Rainer had already noticed in 2023 by a spectacular real estate deal in the center of Vienna. At that time she took over the corner house in Kärntner Straße 11 from the leaning Signa for 94.5 million euros, in which the Apple Store is located.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
