20.01.22: Start of a district-defining development on the Cannstatter Wasen site

Stuttgart-based project developer AAW Guse & Compagnie and Lakeward Real Estate AG have started construction work on the former Kienzle site in Stuttgart-Bad Cannstatt. The developed site was purchased in 2020 and developed accordingly. After receiving the building permit in the 2nd quarter of 2021, the construction project at the highly frequented and prominent location, directly at the Cannstatter Wasen, will now be realized in the next one and a half years.

The joint venture will retain parts of the existing building facing Mercedesstrasse and add two more stories. In the rear part of the site, a new building with an urban courtyard will be realized. The two components are connected by a modern glass building with the function of a common reception area. A total of 153 service apartments, co-working areas, a lounge, a gym and a game room will be created on a total gross living area of 7,500 m². The neighborhood-shaping development gives the site a young identity and is intended to serve as an initial spark for the wider surroundings.

After completion, the serviced apartment building will be operated by BD Apartments with the STAYERY brand. With the signing of a long-term lease in 2020, the Bad Cannstatt location will become the largest property of the dynamically growing company from Berlin. “Temporary living is in vogue. Especially commuters, project workers and managers often tend to rent a second accommodation to save time and money,” says Simon Koenig, CEO, founder and investor of Lakeward Real Estate AG. “In contrast to classic hotels, a boarding house is usually up to 30% cheaper on average, depending on the length of stay, and guests have the advantage that they only pay for service they actually use. In addition, today’s concepts can be operated at significantly lower fixed costs due to the high degree of digitalization.”

Adrian Guse, founder of AAW Guse & Compagnie, adds: “The concept of STAYERY combines the comfort of one’s own flat with the services of a boutique hotel and the latest technology. Such an offer will upgrade the micro-location Stuttgart-Bad Cannstatt significantly. Especially in current times, our project is a positive signal towards the hotel real estate market and also shows that serviced apartments have proven to be a resilient operating concept even in economically difficult conditions.”

With the boarding house, the two companies are responding to the growth of Bad Cannstatt, a district of Stuttgart, the capital of Baden-Württemberg. The regional capital has around 615,000 inhabitants and is one of the top 7 cities in Germany, along with Berlin, Hamburg, Munich and others. In terms of infrastructure, the metropolitan region is excellently connected via public transportation and the A81 coming from the north as well as via the northwest-southeast connection in addition to the international airport, which is about 20 km away, as well as a very good ICE connection.