Essen/Stuttgart, 29 May 2019: Instone Real Estate just kicked off the sales drive for the flats at its housing estate “An der Schwarzwaldstrasse.” The former Leibfried area in the north-west part of Herrenberg will be developed into a total of 116 residential units and one office building. Around 20 percent of the flats in the quarter will take the form of subsidised housing construction and social rental housing construction. The rental flats will be let to the city of Herrenberg for a fixed lease term of 15 years and will be reserved for lower-income households. Private investors have the option to acquire the rental flats including the lease agreement signed with the city. Instone Real Estate anticipated a sales volume of 47 million euros.
Andreas Gräf, COO of Instone Real Estate, commented: “We are right on the project planning schedule with the sales launch for Schwarzwaldstrasse. At the moment, we are finalising the preparations for the start of construction work in the fall of this year. The project is expected to be completed by the end of 2021.”
The plans call for apartments of 1 to 5 bedrooms that are either equipped with a garden section, balcony or loggia. These are the units that are currently being put on the market. Moreover, there are plans for a small-scale development of attached houses on the southern part of the plot.
The distance from Herrenberg to Stuttgart is about 35 minutes by car, while Böblingen/Sindelfingen are 15 minutes away by rapid transit system. With a population of 32,000 residents, it is the fourth largest town in Böblingen district and the largest one by area. The state office for statistics predicts a population increase by 4.9 percent before 2035 for the Stuttgart region. The nearby city of Sindelfingen is home to large international corporates from the automotive and IT industries.
Prospective buyers are invited to visit the project homepage at www.instone.de/projekte/herrenberg/ for a first impression.
Instone Real Estate
c/o RUECKERCONSULT GmbH
Tel.: +49 (0)30 284498747