In a joint venture, project developers Instone Real Estate and the BÜSCHL Group have acquired a plot of land in Stuttgart's Europaviertel district. For this purpose, a project company was founded under the name "Twelve GmbH & Co. KG" based in Stuttgart was founded for this purpose. The site is the last residential area in the Europaviertel - also known as Baufeld 12 - and is currently still being used as a logistics area for Stuttgart's new main railway station, which is currently under construction.
The development is planned with predominantly residential use and offers potential for around 400 flats. Attractive offices and retail space are also to be created in a mixed-use neighbourhood. A total of around 50,000 m² of floor space can be realised on the site. The site covers an area of 10,265 m² and is located on Athener Strasse, just a few minutes' walk from the main railway station and the Schlossgarten and directly adjacent to the Milaneo shopping centre and the new city library. It is characterised by a high quality location with excellent infrastructural connections. The seller of the property is DB Netz AG. The parties have agreed not to disclose the purchase price.
Bianca Reinhardt Weith, COO Süd Instone Real Estate, says: "We are very much looking forward to another major project in Stuttgart. As one of Germany's leading residential developers, it was important to us that we make a contribution to the development of the Europaviertel. We have already demonstrated our expertise in the development of large inner-city districts not far away on the Pragsattel with our 'City Prag - Living and Working in the Theatre Quarter' project. We will complete 250 flats here at the end of next year. A daycare centre and attractive office space are currently being let."
Reinhardt Weith continues: "Together with our project partner, we will pursue a project realisation with high energy and sustainability standards on construction site 12. The development on this unique site will provide urgently needed inner-city living space, but will also contribute to the quality of life in the Europaviertel."
Alexander Schätz, CEO of the BÜSCHL Group, adds: "We are looking forward to a successful collaboration with Instone and are convinced that the experience and expertise of both our companies will help us to create an attractive, vibrant neighbourhood. As soon as the area is no longer required as part of the construction work on the main railway station, we will work with our project partner to prepare the launch of a realisation competition in coordination with the city of Stuttgart."
