Press release

Instone develops residential space in former tea trading headquarters in Halle an der Saale

Conversion of a listed industrial property into the modern “T.Kontor” housing complex // 100 apartments with a total floor area of roughly 6,100 square metres // A gym, lounge and comprehensive high-speed WiFi round off the offer // Construction scheduled to begin in autumn 2018

Leipzig, 26 February 2018: Instone Real Estate Leipzig GmbH has acquired a property in Halle an der Saale that was formerly used as a tea trading headquarters. The inner-city industrial monument from the late 19th century will house more than 100 modern apartments with a total of roughly 6,100 square metres of floor space once Instone has completed its modernisation and conversion efforts. Around two thirds of the units will comprise spaces of between 40 and 60 square metres. In addition, larger apartments for young families are planned. All of the apartments will be equipped with high-quality fitted kitchens. Construction on "T.Kontor" is scheduled to begin in autumn 2018, with sales commencing earlier in spring 2018.

"Due to its location and the building’s structure, this former tea trading headquarters is ideally suited for conversion into a residential space," says Roman Richter, Senior Sales Manager at Instone Real Estate Leipzig. "The external facade of ‘T. Kontor’ will be visually based on the former tea trading headquarters, allowing it to fit in with the neighbourhood nearly unchanged." The complex was built at the end of the 19th century by Carl Wilhelm Caesar and Otto Lorenz to trade and process tea, and was later used by the wholesale tea and pharmaceuticals businesses. The historic brick building in the style of an Italian Renaissance palazzo fell into disuse in the late 1990s and is a listed building.

"In the greater Halle-Leipzig area, there is high demand for small to medium-sized apartments that provide a high level of flexibility, but also high living and housing standards," adds Torsten Kracht, CSO of Instone Real Estate Group. "With our ‘T.Kontor’ apartments, we want to create an attractive, contemporary residential offer that appeals above all to

students, singles and commuters, but also to young families." Alongside the apartments with their high-quality fitted kitchens, the complex is rounded off by a gym and a lounge as well as comprehensive high-speed WiFi.

With around 238,000 residents, Halle is the largest city in Saxony-Anhalt. Together with Leipzig, which is about 40 kilometres away, it forms the Leipzig-Halle metropolitan area, home to over one million people. Halle is one of the most important business centres in the new federal states of Germany as well as a university town steeped in tradition.

Press contact
Instone Real Estate

Franziska Jenkel
Wallstraße 16
10179 Berlin, Germany
Phone: +49 (0)30 2844987-61
Fax: +49 (0)30 2844987-99
Email: instonerueckerconsult "«@&.de