A transaction involving the acquisition of a residential and commercial building in southern Stuttgart by the GJOLEKA Group has been announced. The property, built in 1896, comprised five commercial units and one residential unit across a total area of more than 900 square metres at the time of purchase.
The acquisition aims at a comprehensive transformation of the existing building. In cooperation with the AIGIS Group, an energy-efficient refurbishment and conversion into a KfW 55 EE WPB house are planned. This includes the repurposing of the former commercial spaces into residential units and a redesign of the floor plans.
Details of the project development
Upon completion of the refurbishment measures and conversion, the building will comprise a total of 15 residential units. This development is in line with the GJOLEKA Group's strategic focus on expanding its real estate portfolio with high-quality residential properties and optimising the energy performance of its assets.
- —Property type: Residential and commercial building
- —Location: Stuttgart-Süd
- —Year of construction: 1896
- —Planned use after conversion: 15 residential units
The brokerage and advisory services for this transaction were provided by Giese Immobilien. The parties involved have agreed to maintain confidentiality regarding the specific terms of the purchase price. The realisation of the project underscores the GJOLEKA Group's commitment to the Stuttgart real estate market and its focus on sustainable value creation through modernisation and repurposing of existing properties.
The conversion of existing buildings such as this into modern living spaces, complemented by high energy standards, is a relevant contribution to urban development and the creation of attractive housing options in sought-after locations. Such projects not only strengthen the portfolios of the involved stakeholders but also contribute to the upgrading of respective districts by meeting modern housing needs while preserving traditional building fabric.
