The Grounds Real Estate Development AG wins the bidding with a successful concept for an urban district redevelopment on the old Triumph site in the Stuttgart metropolitan region
- A mix of apartments, a care home and s
- heltered housing – for all the generations!Total investment volume EUR 25 million
Berlin, 18 April 2018 – With a coherent, harmonious concept, The Grounds Real Estate Development AG (ISIN DE000A2GSVV5), a portfolio holder with a clear focus on the acquisition, project development and sustainable management of residential properties in Germany, has won Heubach municipal council’s approval to redevelop an urban district on the old Triumph site in Heubach, part of Stuttgart’s metropolitan region. Apartments, a care home and sheltered housing facilities, supplemented with opportunities for shopping and recreation, will be created on a 10,652 m2 area of land in this structurally strong region with great economic power. The urban district entirely follows the guiding principle of living in harmony with nature – for all generations! For example, it will include an integral combined heat and power station and solar energy, together with buildings planned according to the latest KfW (Reconstruction Loan Corporation) Energy-Efficient Building Standard. The total investment volume for this project development is approx. EUR 25 million.
A care home for 60 residents will be constructed between Böbinger Str. and Mögglinger Str. Roads, together with an additional building with 40 small apartments for sheltered housing. There is also provision for modern living accommodation on attractive terms in six terrace houses and other buildings with 32 apartments. The overall development also focused on integrating shopping facilities that will be augmented by the existing Lidl supermarket. The municipality has announced that it will decide on the development plan in September 2018, so a prompt start can be made on building permit applications, and construction is scheduled to start as early as 2019.
The Grounds Real Estate Development AG
Leipziger Platz 3, 10117 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
Haus der Wirtschaft, Kapstadtring 10
T. +49 (0) 40 6378 5410
F. +49 (0) 40 6378 5423
Acquisition, project development and sustainable residential property management
The Grounds Group focuses on buying and developing residential property and, as a full-service provider for the business areas Investment (including property and asset management), Development and Trading, they have made it their goal to provide affordable living space for different life stages. The emphasis is on residential property, particularly also special real estate such as student and retirement living in German metropolitan regions and attractive locations such as aspiring outskirts in Germany. As a portfolio holder their medium-term aim is to establish a significant high quality real estate portfolio at a magnitude of EUR 500 million through investments and in-house development, allowing stable profits together with attractive dividend payments to The Grounds shareholders. The Grounds seeks to position themselves as one of the leading German real estate companies by creating added value within the scope of housing development and subsequent development of market capitalisation.
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