Essen/Hamburg, 22 January 2019: Instone Real Estate, one of Germany’s leading residential developers, acquired land for a neighbourhood development in Norderstedt near Hamburg. The plot of around 20,000 square metres on Kösliner Weg is to be built up with attractive homes.
Formerly the grounds of the Stielow plant, the site is optimally suited for residential development not just because of its proximity to Hamburg’s city limits but also because of the existing wide range of infrastructure options and the convenient access to public transportation. The immediate vicinity is defined by a rich variety of non-discretionary retailers, including the Herold-Center mall with more than 140 stores, a number of doctors’ offices, an elementary and a secondary school as well as preschools.
The plot acquired by Instone is located a short walk from the “Garstedt” underground station (U1 line) with direct service to Hamburg’s central railway station. The nearest bus stop lies only about 200 metres away from the project site. The commute to Hamburg’s airport by means of public transportation takes no more than about half an hour.
Albrecht Sonnenschein, head of Instone’s Hamburg branch, had this to say about the new property development: “We are looking forward to the exciting project in Norderstedt and the upcoming talks. Instone brings years of experience with residential projects in Hamburg to this job, but at the same time, we have long kept a close eye on the development of the metro region as a whole. Norderstedt stands out within the suburban perimeter of Hamburg because of its high quality of location.”
The transaction in Norderstedt was facilitated by VÖLCKERS & CIE Immobilien GmbH in an advisory role. Stefan Börger, authorised signatory of the investment unit of VÖLCKERS & CIE Immobilien GmbH, said: “Instone secured an outstanding development area that includes additional options to expand.”
Instone Real Estate
c/o RUECKERCONSULT GmbH
Tel.: +49 (0)30 284498747
Fax: +49 (0)30 284498799