Instone
Real Estate and LEG already completed the purchase agreement for
realisation of the first phase of construction in the “Wohnen im
Hochfeld” district in Dusseldorf-Unterbach
at the end of 2019. Of
the 104 apartments sold, 16 units will be publicly subsidised, 66 are
planned as reasonably priced living space, and 22 units will be
privately financed. In addition,
the acquisition by LEG includes a children’s day care centre and a
range of smaller commercial units in the neighbourhood development
project. The transaction was treated as an asset deal. The parties have
agreed not to disclose the purchase price.
Besides
360 apartments, a day care centre with five groups of children and
smaller-scale commercial units will be developed on the approximately
55,000 square metre large site.
The
sub-project sold forms the southern border of the district to
Gerresheimer Landstrasse. Building permit applications have been
submitted to the authorities for the initial development
sites.
Dusseldorf is currently demonstrating a particularly dynamic population
trend. IT.NRW predicts a 14% rise in the population by 2040, which would
see the population of North Rhine-Westphalia’s state capital breaking
through the 700,000 inhabitant mark.
In addition to its “Wohnen im Hochfeld” neighbourhood located in natural
surroundings, Instone is also developing and building the
“Niederkasseler Lohweg 20” residential project in Dusseldorf.
Source : Instone Real Estate