Essen/Leipzig, 16 August 2018: Instone Real Estate has celebrated the topping-out of its Heeresbäckerei project in Leipzig. A total of 347 condominiums are planned for the roughly 36,500-square-metre historical site in the Gohlis district, of which 245 will be apartments in an old, refurbished building, and 102 will be new-build apartments. The residential quarter should be ready for occupancy in late 2019. The listed residential developer is completely on schedule with the progress of its construction activities.
Andreas Rühle, COO of Instone Real Estate for the Saxony region, says: “As planned, when we began construction, we had already sold a large percentage of the apartments, taking into account the proportion of apartments in the protected older building structure. At the time of the topping-out, we have now almost completely sold out. Huge demand from capital investors and owner-occupiers are testament to the project’s huge appeal.”
Torsten Kracht, CSO of Instone Real Estate Group, adds: “With the Heeresbäckerei, we are realising Leipzig’s largest current residential project, creating new, urgently required residential space. At the same time, this unique construction project stands out due to the way that it combines modern and historic architecture in an urban residential environment. This is where we can put our expertise in the realisation of exciting revitalisation projects and contemporary residential concepts to excellent use.”
The Heeresbäckerei is being developed in Leipzig’s former barracks quarter. The location to the north of the city centre is characterised by its many parks and excellent infrastructure.
Persons on photo: Torsten Kracht, CSO Instone Real Estate Group, Kathrin Rödiger, City of Leipzig, Andreas Rühle, COO Instone Real Estate for Saxony
Note on image rights: Instone Real Estate
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