Essen/Stuttgart, 30 April 2019: Instone Real Estate just acquired a plot of around 10,740 square metres in Herrenberg, a town in the German state of Baden-Wuerttemberg. It is earmarked for Instone’s third neighbourhood development in that town. The investment in the economically and demographically prospering town of Herrenberg is consistent with Instone’s current growth strategy. The company expects the project to deliver sales in a volume of c. 55 million euros. Construction work is scheduled to start in the second half of 2022, once the local development planning process is concluded.
Thomas Sprissler, the town’s mayor, emphasised: “Herrenberg urgently needs new housing stock. We are pleased to say that the new quarter will not only help to ease the strain on the local housing market but will also contribute to our urban development.
Harald Meersse, Managing Director for Baden-Wuerttemberg and Bavaria at Instone, added: “Not least because of the short commute to Sindelfingen, Herrenberg has seen its population grow in recent decades, generating a keen demand for housing; the location advertises itself. This is already the third project in which we are collaborating with the city council of Herrenberg.”
The distance from Herrenberg to Stuttgart is about 40 minutes by car, while Sindelfingen in Böblingen district is 20 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.
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