Instone Real Estate Leipzig GmbH has acquired a property in Halle an der Saale that was formerly used as a tea trading headquarters. The inner-city industrial monument from the late 19th century will house more than 100 modern apartments with a total of roughly 6,100 m² of floor space once Instone has completed its modernisation and conversion efforts. Around two-thirds of the units will comprise spaces of between 40 and 60 m². In addition, larger apartments for young families are planned. All of the apartments will be equipped with high-quality fitted kitchens. Construction on “T.Kontor” is scheduled to begin in autumn 2018, with sales commencing earlier in spring 2018.
“Due to its location and the building’s structure, this former tea trading headquarters is ideally suited for conversion into a residential space,” says Roman Richter, Senior Sales Manager at Instone Real Estate Leipzig. “The external facade of ‘T. Kontor’ will be visually based on the former tea trading headquarters, allowing it to fit in with the neighbourhood nearly unchanged.”
The complex was built at the end of the 19th century by Carl Wilhelm Caesar and Otto Lorenz to trade and process tea, and was later used by the wholesale tea and pharmaceuticals businesses. The historic brick building in the style of an Italian Renaissance palazzo fell into disuse in the late 1990s and is a listed building.
“There is high demand for small to medium-sized apartments that provide a high level of flexibility but also high living and housing standards in the greater Halle-Leipzig area,” adds Torsten Kracht, CSO of Instone Real Estate Group. “With our ‘T.Kontor’ apartments, we want to create an attractive, contemporary residential offer that appeals to students, singles, commuters, and young families.”
Alongside the apartments with their high-quality fitted kitchens, the complex is rounded off by a gym and a lounge as well as comprehensive high-speed WiFi.