Instone Real Estate has celebrated the topping-out of its Heeresbackerei residential project in Leipzig. Located at a 36,500m² historical site in the Gohlis district, the scheme will compromise 347 condominiums, of which 245 will be apartments in an old, refurbished building, and 102 will be new-build apartments. The development is expected to be ready for occupancy in late 2019.
Andreas Ruhle, COO of Instone Real Estate for the Saxony region, said: “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 a testament to the project’s huge appeal.”
Torsten Kracht, CSO of Instone Real Estate Group, commented: “With the Heeresbackerei, 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.”