This  latest  innovation  represents  a  further  contribution  by IMMOFINANZ to the fight against climate change, ground sealing and the explosion in housing costs and opens up new earnings opportunities while, at the same time, optimising risk.  
 
“In view of the scarcity and increasing cost of inner-city land and the current housing shortage, we have a massive resource with Europe’s largest network of retail parks. With Top on STOP, we now want to make the best use of this  opportunity  and,  as  an  experienced  real  estate  developer,  offer  affordable  and  sustainable  housing  and support the responsible use of valuable land resources“, explained Dietmar Reindl, COO of IMMOFINANZ, on the underlying strategy. The new  Top on STOP concept involves the  overbuilding of single-storey retail  parks in  the STOP SHOP brand to create low-cost housing directly adjacent to local suppliers and recreational facilities. “In this way,  we  are  meeting  three  of  the  greatest  challenges  of  our  time:  We  are  advancing  densification  and  fighting
ground  sealing.  We  are  creating  high-quality  housing  for  people  with  lower  and  middle  incomes.  And  we  are building  climate-neutral  housing  with  our  planned  wood  construction  and  ecological  energy  concepts“, added Reindl.

IMMOFINANZ‘s STOP SHOP portfolio currently covers roughly 100 locations in ten European countries, and plans call  for  an  increase  to  140  properties  over  the  coming  years.  The  potential  for  this  new  housing  concept  is, therefore,  substantial:  “Over the medium term, we plan to overbuild roughly 50% of  our  current  and  future STOP SHOP locations with affordable rental apartments. That would represent up to 600,000 sqm of residential space or nearly 12,000 smart and sustainable apartments. We are starting with pilot projects in Austria and the neighbouring countries and – as with our other real estate products – a high degree of standardisation will then allow  for  rapid  roll-out.  Another  benefit  involves  the  lower  investment  costs  since  we  are  building  on  existing properties. This will also generate an attractive residential return for our shareholders in this segment“, indicated Stefan Schönauer, CFO of IMMOFINANZ.

Environmentally and socially sustainable
 
The  Top  on  STOP  apartments  will  meet  high  sustainability  criteria.  Modular  wood  construction  will  allow  for combinations ranging from mini-lofts to family apartments, apartments with home office rooms or separate units for guests or caregivers. The climate-neutral energy concept includes the use of photovoltaics, heat recovery and geothermal energy as well as  the unsealing  of land  through greening  and  the  installation  of common  areas like playgrounds, meeting zones or rooftop gardens. The first pilot project has already started and will be implemented quickly after municipal permits.

 

IMMOFINANZ