Essen/Bonn, 20 November 2019: Instone Real Estate’s “west.side” project in Bonn, which is one of the biggest neighbourhood developments in the so-called Federal City, continues to prosper as the company sold 139 of the projected residential units and 131 underground parking spots to a renowned European asset manager. It was agreed not to disclose the selling price. Before the end of November 2019, Instone will file its planning application for the development site with its plot area of around 8,850 square metres.
Stefan Dahlmanns, Head of the Instone branch North Rhine-Westfalia, commented: “Once again, our neighbourhood concept convinced numerous interested parties, this time in regard to the construction stage just marketed. Especially the mix of contemporary architectural and formal language, on the one hand, and the industrial charm of the identity-defining historic building, on the other hand, symbolises the suspenseful vibrancy of this new urban quarter. It is this combination that invests the ‘west.side’ with a unique selling proposition.”
Andreas Gräf, COO of Instone Real Estate, elaborated: “The city of Bonn is becoming an ever more important investment destination because of its robust economic development and its sound demographics. In 2018, its population increased by more than 2,300 residents. The trend of recent years evidently continues.”
Construction work of this privately financed project stage with a dwelling floor area of more than 12,000 square metres is expected to start in the third quarter of 2020. The plans call for a loosely structured development with point houses in the inner area and streetside buildings of a pedestrianised quarter development. Each of the building envelopes is projected to have four or five storeys. The attractive mix of apartments of two to five bedrooms and 54 to 135 square metres in size is intended to engage a broad-based target group.
In the years to come, Instone will develop a total of more than 550 rental flats and condominiums on the so-called west.side area of 60,000 square metres in the district of Endenich. Add to this more than 40,000 square metres of floor area for commercial use.
Instone Real Estate
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Tel.: +49 (0)30 2844987-61