- Around 70 residential units planned for Garching near Munich
- Purchase of a property in Rümelinstraße in Stuttgart
- Building application filed for “Rosenstein Trio” in Stuttgart
Munich, Monday, August 26, 2019: ISARIA Wohnbau AG has purchased a property of land on Rümelinstraße in Stuttgart and another on Römerhofweg in Garching. It was agreed with the sellers that the price would not be disclosed.
The 15,700 square meter property in Garching is located between the urban area and the locally-based research center of the Technical University of Munich. The seller is Bayernwerk AG, which currently operates an electrical substation on the site. The demolition is set to take place in 2021. The land is in an area for which a land use plan is currently being prepared. This includes privately financed apartments, subsidized housing, student accommodation and housing in accordance with the local housing model. In addition, a school, a swimming pool and spacious parks are planned. ISARIA is planning to erect a building development with a floor area totaling around 7,300 square meter on the land in two phases.
The property in Stuttgart is in the vicinity of ISARIA's “Rosenstein Trio” project. The development concept for the property on Rümelinstraße is being developed closely based on the project that is already being marketed. The “Rosenstein Trio” at Rosensteinstraße 33-37 has now arrived at an important milestone. The building application for the “Rosenstein Trio” was filed on July 8, 2019. And a tenant, EDEKA Handelsgesellschaft Südwest mbH, has already been acquired for the retail space on the first floor of the northern building. A full-service grocery store is planned with close to 1,200 square meter of sales floor, 50 parking spaces in the underground parking lot and its own delivery area. In the “Rosenstein Trio” project, more than 7,500 square meters of residential space in 44 two-to-three room apartments with around 220 micro apartments will be built by mid-2022. Around 1,900 square meters of retail space and around 8,500 square meters of office rental space are additionally planned.
ISARIA Wohnbau AG is one of the leading project developers for residential construction in Munich. The range of projects it has completed includes multi-story apartment blocks, district developments and the regeneration of buildings previously used for commercial purposes. ISARIA Wohnbau AG, with its 90-some employees, can now offer residential properties to meet the requirements of a wide range of target groups. The company has 20 years of experience along the entire project development value chain, including proven skills in obtaining construction rights. Based on its strong market position in the Munich urban area, ISARIA Wohnbau AG has successively expanded its activities in recent years to new regions with projects in the greater Munich area as well as in Hamburg, Stuttgart and Frankfurt am Main. The company's project pipeline has a current planned sales volume of more than EUR 2.9 billion.
Information about the company: