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DGAP-Media / 2019-01-08 / 09:00
*Sales Launched for Instone's "Theaterfabrik" Project in Leipzig of 75
Condominiums Overall*
*- *_Sales volume expected to total more than 20 million euros_
_- Instone to develop 69 condominiums in listed period building during first
construction stage _
_- A gem on Leipzig's residential property market, equally attractive to
buy-to-let investors and owner-occupiers_
_- Completion scheduled for mid-2021_
*Essen/Leipzig, 08 January 2019: *In Leipzig, Instone Real Estate is
converting a renowned property with a long history into attractive
residences. The project will deliver a total of 75 condominiums and 54
underground parking spots. The first construction stage is scheduled for
completion by mid-year 2021. The sales drive for the project, which is
expected to generate a total sales volume of more than 20 million euros, is
now under way.
Torsten Kracht, CSO of Instone Real Estate Group, said: "The 'Theaterfabrik'
asset combines the charm of a history-steeped building under heritage
protection with the ambience of modern state-of-the-art living. The
fascinating architecture and our clever revitalisation measures will ensure
that the project will deliver a real gem for Leipzig's residential property
market that will be equally attractive for buy-to-let investors and
owner-occupiers." Highlights awaiting future residents will include an
in-house gym area and lush green spaces complete with quiet areas.
From the early 20th century up into the late 1990s, the so-called
"Theaterfabrik" in the sub-district of Leutzsch used to be a production
plant for varnishes and paints. Between 2003 and 2015, the building served
as cultural venue, hosting plays, cabaret programs and concerts-hence the
name which literally translates into "theatre factory." During the years
since, the listed property has been vacant. If you would like to learn more
details, go to the project homepage at https://www.instone.de/en/projects/
*About Instone Real Estate (IRE)*
Instone Real Estate is one of Germany's leading residential developers and
is listed in the Prime Standard at the Frankfurt Stock Exchange. The company
develops attractive multi-family and residential buildings as well as
publicly subsidized housing, designs modern urban quarters and refurbishes
listed buildings for residential use. Buyers are mainly owner-occupiers,
private investors and institutional investors. In 27 years, Instone Real
Estate has successfully developed more than one million square metres. More
than 320 employees work at eight locations nationwide. As of 30 September
2018, Instone Real Estate's project portfolio comprised 45 development
projects with an expected total sales volume of roughly EUR 3.6 billion and
more than 8,900 units.
*Press Contact
Instone Real Estate*
c/o RUECKERCONSULT GmbH
Michael Lippitsch
Wallstrasse 16
D-10179 Berlin
Tel.: +49 (0)30 284498747
Fax: +49 (0)30 284498799
E-mail: instone@rueckerconsult.de
End of Media Release
Issuer: Instone Real Estate Group AG
2019-01-08 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Archive at www.dgap.de
Language: English
Company: Instone Real Estate Group AG
Baumstraße 25
45128 Essen
Germany
Phone: +49 201 453 550
E-mail: ir@instone.de
Internet: www.instone.de
ISIN: DE000A2NBX80
WKN: A2NBX8
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP Media
763973 2019-01-08
(END) Dow Jones Newswires
January 08, 2019 03:00 ET (08:00 GMT)
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