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Instone Real Estate Group AG
Regulatory Filings • Nov 20, 2019
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Media | 20 November 2019 08:33
Instone Real Estate Sells Another 139 Flats at ‘west.side’ Area in Bonn
DGAP-Media / 20.11.2019 / 08:33
Instone Real Estate Sells Another 139 Flats at “west.side” Area in Bonn
– Instone to develop more than 12,000 square metres of dwelling floor area in this construction stage
– More than 550 rental flats and condominiums to be created at the site
Essen/Bonn, 20 November 2019 : Instone Real Estate’s “west.side” project in Bonn, which is one of the biggest neighbourhood developments in the so-called Federal City, continues to prosper as the company sold 139 of the projected residential units and 131 underground parking spots to a renowned European asset manager. It was agreed not to disclose the selling price. Before the end of November 2019, Instone will file its planning application for the development site with its plot area of around 8,850 square metres.
Stefan Dahlmanns, Head of the Instone branch North Rhine-Westfalia, commented: “Once again, our neighbourhood concept convinced numerous interested parties, this time in regard to the construction stage just marketed. Especially the mix of contemporary architectural and formal language, on the one hand, and the industrial charm of the identity-defining historic building, on the other hand, symbolises the suspenseful vibrancy of this new urban quarter. It is this combination that invests the ‘west.side’ with a unique selling proposition.”
Andreas Gräf, COO of Instone Real Estate, elaborated: “The city of Bonn is becoming an ever more important investment destination because of its robust economic development and its sound demographics. In 2018, its population increased by more than 2,300 residents. The trend of recent years evidently continues.”
Construction work of this privately financed project stage with a dwelling floor area of more than 12,000 square metres is expected to start in the third quarter of 2020. The plans call for a loosely structured development with point houses in the inner area and streetside buildings of a pedestrianised quarter development. Each of the building envelopes is projected to have four or five storeys. The attractive mix of apartments of two to five bedrooms and 54 to 135 square metres in size is intended to engage a broad-based target group.
In the years to come, Instone will develop a total of more than 550 rental flats and condominiums on the so-called west.side area of 60,000 square metres in the district of Endenich. Add to this more than 40,000 square metres of floor area for commercial use.
About Instone Real Estate (IRE)
Instone Real Estate is one of Germany’s leading residential developers and is listed in the SDAX. The company develops attractive residential and multi-family buildings as well as publicly subsidized housing, designs modern urban quarters and refurbishes listed buildings for residential use. Buyers are mainly owner-occupiers, private investors with the intention of letting and institutional investors. In 28 years, Instone Real Estate has successfully developed more than one million square metres. Around 330 employees work at eight locations nationwide. As of 30 June 2019, Instone Real Estate’s project portfolio comprised 47 development projects with an expected total sales volume of roughly EUR 5.1 billion and more than 11,500 units.
Press Contact
Instone Real Estate
c/o RUECKERCONSULT GmbH
Anke Reiß
Wallstrasse 16
D-10179 Berlin
Tel.: +49 (0)30 2844987-61
E-mail: [email protected]
End of Media Release
Issuer: Instone Real Estate Group AG
Key word(s): Real estate
20.11.2019 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | Instone Real Estate Group AG |
| Grugaplatz 2-4 | |
| 45131 Essen | |
| Germany | |
| Phone: | +49 201 453 550 |
| E-mail: | [email protected] |
| Internet: | www.instone.de |
| ISIN: | DE000A2NBX80 |
| WKN: | A2NBX8 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 917219 |
| End of News | DGAP Media |