Successful Sale of the Rental Apartment Share of the ‘Schumanns Höhe’ Quarter in Bonn to Wohnbau GmbH

Wohnbau GmbH acquires first residential portfolio before the start of construction work /// Neighbourhood development will deliver a total of over 210 rental flats and condominiums /// Condominium sales to start as planned

Essen/Bonn, 19 December 2018: Instone Real Estate is right on schedule with its neighbourhood development of “Schumanns Höhe” in Bonn.  As planned, the listed residential developer sold the development’s rental flat contingent of 34 units overall and a large child day care to the company Wohnbau GmbH based in Bonn. Jens Bräutigam, Managing Director of Wohnbau, said: “The concept of the ‘Schumanns Höhe’ quarter with its key aspect of linking senior-oriented and multi-generation living perfectly complements the objectives of Wohnbau, a company with close ties to a foundation and committed to the sustainable management of proprietary housing stock in 34 location across Germany.”

Stefan Dahlmanns, Head of the Instone branch North Rhine Westphalia, commented on the project: “The fact that Wohnbau has signalled interest this early into the project is significant evidence for the sustainability of our strategy in this location. With ‘Schumanns Höhe,’ we are planning a holistic neighbourhood development that includes residential units of various sizes and designs suitable for a variety of different occupiers. The construction work is scheduled to start in 2019, and we expect this flagship project in Bonn to be completed in its entirety by 2021.”

The overall project “Schumanns Höhe” occupies a site of around 21,500 square metres in the Endenich district of Bonn in the immediate vicinity of the Schumanhaus heritage site. In addition to a senior-oriented design of the apartments and its concept of providing accommodation for residents of any generation, the project places a premium on green spaces and sensitive architecture. The façade of the main building, formerly the site of the Paulusheim retirement home, will be restored in its historic design.

Bonn has experienced dynamic demographic and economic growth in recent years. Compared to other municipalities in North Rhine-Westphalia, the city boasts auspicious forecasts for a fast continued rise in population (by around 6.4 percent between now and 2040, acc. to NRW.INVEST/Statistics Office of the City of Bonn) and a very high purchasing power. At 24,976 euros per resident in 2017, the city topped the statewide purchasing power of North Rhine-Westphalia by nearly 12 percent (Chamber of Industry and Commerce for Bonn/Rhine-Sieg).

Andreas Gräf, CDO of Instone Real Estate Group, commented: “The attractiveness of Bonn and the predicted growth vindicate our decision to become active in the city by developing two large-scale, foresighted residential quarters in attractive locations. Bonn will play an important role in the continued growth of Instone.”

In addition to the “Schumanns Höhe” project, Instone is developing around 520 flats and around 42,000 square metres of floor area for commercial use on the “west.side” area in Bonn, which extends over roughly 60,000 square metres.

 

Pressecontact
Instone Real Estate
c/o RUECKERCONSULT GmbH
Michael Lippitsch
Wallstraße 16
10179 Berlin
Tel.: 030 2844987-47
E-Mail: instone@rueckerconsult.de