Instone acquires site for new apartments in Hamburg region

German residential developer Instone Real Estate has acquired three development plots on Richtweg in Norderstedt's Garstedter Dreieck area, near Hamburg.

Site on Richtweg in Norderstedt 

The sellers were Schilling Immobilien and Jürgen Sallier.

This acquisition paves the way for a new residential project featuring approximately 316 apartments. Around 30% of these units are planned to be publicly subsidised, and the entire development is designed to meet the Energy Efficiency House 40 (EH40) standard. The local development plan is currently being prepared, with construction anticipated to begin in 2027. Instone will work closely with the City of Norderstedt throughout the planning process.

This project expands Instone's existing involvement in Norderstedt, a city recognised for its appeal to both residents and businesses, stable demand, good accessibility, and robust infrastructure. The planned mix of privately financed and subsidised housing aims to cater to a wide array of residents.

Instone is already active in the broader Hamburg region, including another project named "Nordlicht" currently under construction in Norderstedt. The Richtweg acquisition further solidifies Instone’s long-term commitment to development in the Hamburg metropolitan area and Norderstedt. Instone’s subsidiary nyoo will provide specialised knowledge in standardized planning and product approaches for residential developments.

Simon Querndt, branch manager of Instone Real Estate Development in Hamburg, said: “By acquiring the site in the Garstedter Dreieck, we are laying the foundation for a residential development in a very well-connected location and addressing housing demand in the northern Hamburg metropolitan region. Norderstedt combines proximity to the metropolis with the independence of a growing mid-sized city. Our aim is to create additional housing here – including a subsidised share – with offers that blend well into the existing urban fabric and appeal to people in a variety of life situations.”