Modesta Real Estate will collaborate with Savills to service existing clients whilst liaising with Savills offices and other partners in CEE to build relationships across the wider region.

Modesta Real Estate also has an office in Bratislava and will be collaborating closely with Savills Czech office to ensure further service delivery in Slovakia.

James Sparrow, CEO of Savills UK and EMEA, says: 'Modesta Real Estate’s first class people and in-depth knowledge of Austria’s property market will give our international clients a wider network in which we can service them.

'With European and American investment companies as well as private investors and global occupiers already present in the area, we are pleased to have found a partner who can maintain the highest standards of professional real estate advice.'

Modesta Real Estate was founded in Vienna in 2002. The firm comprises a 10 strong team based in Austria and Slovakia and is led by managing partners Sebastian Scheufele and Andreas Polak-Evans, both members of SIOR (The Society of Industrial and Office Realtors).

Primarily supporting all aspects of office and industrial real estate, as well as sourcing development land, clients of Modesta Real Estate include Bechtle, Bosch, Chanel, Goldbeck, Honeywell, Louis Vuitton, Mondi AG, Mountpark, Philips, Prologis, Siemens, Signa and USAA Real Estate.

The firm also offers professional advisory and corporate real estate services as well as marketing strategies for existing properties.

Said Scheufele: 'In Savills we have found a strong partner whose professional values and visions directly correspond to those of our company. The association with Savills will give us the opportunity to share our extensive experience of the Central and Eastern European commercial real estate markets while further expanding our international networks and expertise.'