Instone buys resi plot in Dortmund for €100m scheme

Instone buys resi plot in Dortmund for €100m scheme

Published at: 2018-12-17 10:53 | Author: CIJEurope.com
Instone Real Estate is making inroads in Dortmund, most recently through the acquisition of a 17,200 sqm plot of residential land with the potential to deliver a gross floor area of around 30,000 sqm. The property is located in the city's Gartenstadt district, which is a quality location. The plot was sold by an affiliated company of Immowerk GmbH. Instone puts the anticipated sales volume at a total of approximately €100m and expects construction work to start in 2021. The neighbourhood development will start directly with the drafting of the planning consent. “We see a lot of potential in this location," said Andreas Gräf, CDO of Instone Real Estate. "We are planning to deploy our experienced North Rhine-Westphalia team to make a noticeable difference on Dortmund’s housing market with a large-scale but well-considered neighbourhood development. The growth strategy that we pursue as a leading listed residential developer is perfectly complemented by this acquisition.”

Similar Stories:

PEPCO OPENED A NEW STORE IN MILCOV SHOPPING CENTER FOCSANI
Activ Property Services brokered the lease of a 400 sq m space for the Polish retailer PEP  »
Belgrade’s residential market sees growth in 2018
Belgrade’s residential market is booming, with 15,672 apartments sold in 2018 and 4,478  »
Komandor building resi complex along Kotor Bay in Montenegro
Komandor is planning to develop a new residential complex in Kavac along Montenegro’s Ko  »
Instone sells rental portion of Bonn resi scheme
Instone Real Estate has sold the development’s rental flat contingent of 34 units overal  »
Czech Republic  ♦  Round Hill plots European growth
The buildings are located in Helsinki and in regional towns near the south of the country.   »
The 340 apartments, built in a total of nine buildings, have long since sold out as Slovak   »
Emotions are running high on the Romanian residential market where demand is outstripping   »
It’s part of the bargain struck with the city that helped it win the needed support for   »