Completion of the three residential and commercial buildings has been scheduled for 2020. The sellers are MBP Projekt BA Ditzingen GmbH & Co. KG, based in Herrenberg, as well as the town of Ditzingen. The parties have agreed to keep the purchase price confidential.
Construction work is due to commence in the first quarter of the coming year. The investment costs amount to around €22.5 billion. The upper floors have been reserved for medical surgeries and office space and the ground floor for retail and gastronomy. In addition, plans are being drawn up for extensive space for residential use in the upper floors.
“In acquiring “Neues Bahnhofsareal”, we have added an attractive investment property to our portfolio”, says Axel Schulz, Global Head of Investment Management at Real I.S. AG. “With Ditzingen’s population trend and market development, “Neues Bahnhofsareal” enjoys sustainable upside potential.”
The investment property concerned forms the second construction phase in developing the grounds of Ditzingen’s railway station. In the first construction phase, the around 3,000 sq m “Bahnhofscenter Ditzingen” shopping centre as well as another approximately 4,200 sq m of mixed usage rental space have already been developed and let to a drugstore and as office space. The third part features the “Alter Bahnhof” cultural landmark on around 500 sq m.
The district town of Ditzingen to the north-west of Stuttgart is part of an economically strong metropolitan region. The investment property has good transport connections as it is situated in the direct vicinity of the station’s suburban lines and is connected up to the A81 via a motorway access road close by.