GSK Stockmann provided Nyoo Real Estate GmbH, a subsidiary of the Instone Group, a residential developer operating throughout Germany, with legal advice on the acquisition of an approximately 9,700 sqm site near Stuttgart. nyoo plans to build an energy-efficient residential neighbourhood with 120 apartments on the site.
A GSK Stockmann team led by partner Dr Martin Prothmann provided nyoo with transaction advice on the purchase of the redevelopment site in Schorndorf’s Weiler district.
Following the partial demolition of the existing buildings and the planned removal of sealed surfaces, the site, which was previously used for commercial purposes, is to be redeveloped into an energy-efficient residential neighbourhood with around 120 apartments. The project is intended to support key urban development objectives of the town of Schorndorf. The seller is Oskar Frech GmbH + Co KG, which will continue to use its founding building located on the site.
Construction is planned to commence at the start of 2028. Particular importance is placed on the sustainable development of the site, with heat pumps and photovoltaic systems forming an integral part of the energy concept. The design will also incorporate extensive green roofs to support the local microclimate. The plans are based on the KfW Efficiency House 40 standard, with the aim of ensuring stable operating and ancillary costs over the long term.
Advisers of nyoo Real Estate GmbH at GSK Stockmann:
Dr Martin Prothmann (lead, Real Estate Transactions & Investments), Pascal Franke, Jakob Haddad (both Real Estate Transactions & Investments), Kristina Marx, Nika Richard (both Real Estate Projects, Public Construction Law), Dr Mechtild-Maria Siebke (Finance)
