Instone Real Estate, an established German residential developer, has forged a strategic partnership with Ginkgo Fund. Ginkgo Fund, a European investment fund whose expertise lies in the revitalisation of brownfield sites and urban renewal projects, will henceforth jointly drive the development of the "Benrather Gärten" area in Düsseldorf with Instone. The formation of this joint venture marks an important step for the future design of a significant urban quarter in the state capital of North Rhine-Westphalia. The parties involved will pool their respective core competencies to implement the project in accordance with the high demands of modern urban development. This cooperation underscores the necessity of strategic alliances for complex development projects in urban centres.
Project Development: The "Benrather Gärten"
The "Benrather Gärten" development project encompasses approximately 15 hectares of a former industrial site in southern Düsseldorf. The transformation of this plot of land is planned for the coming years and envisions the creation of a new, sustainable urban quarter. The concept incorporates mixed-use, integrating residential needs as well as infrastructural and commercial aspects. The focus is on a balanced mix that meets the needs of a modern urban society while also considering the principles of sustainability. This includes not only ecological aspects but also the social and economic dimensions of quarter development.
The planned quarter will comprise between 800 and 1,000 residential units to meet the growing demand for housing in the region. In addition to the residential buildings, the establishment of social infrastructure facilities is planned to contribute to the quality of life for future residents. This includes facilities that meet daily needs and foster community. Furthermore, commercial and office spaces are planned, which are intended to strengthen the economic foundation of the quarter and create jobs. The integration of commercial areas within the residential environment allows for short distances and promotes a vibrant mixed-use.
Another central component of the development concept is the extensive design of green spaces. Both public and private green areas will be realised, serving for recreation and contributing to the improvement of the microclimate in the quarter. The creation of open spaces contributes significantly to the attractiveness and sustainability of the entire project. The planning of these open spaces takes ecological aspects into account to promote biodiversity and create a near-natural habitat.
Legal Advice by Clifford Chance
Legal advice for the formation of this strategic joint venture was provided by the global law firm Clifford Chance. The Clifford Chance team comprehensively supported Instone Real Estate in drafting the joint venture agreement and the development agreement. This advisory mandate was led by Partner Dennis Blechinger, who operates from the Real Estate practice at Clifford Chance's Munich office. This professional legal support was crucial for structuring the complex partnership and safeguarding the interests of both parties within the framework of long-term project development.
