DGAP-News: Peach Property Group AG successfully completes first stage of major 'Am Zirkus 1' project in Berlin
EQS Group-News: Peach Property Group AG / Key word(s): Real Estate
Peach Property Group AG successfully completes first stage of major
'Am Zirkus 1' project in Berlin
31.07.2014 / 11:50
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Press release
Peach Property Group AG successfully completes first stage of major "Am
Zirkus 1" project in Berlin
- Roland Berger Strategy Consultants have moved in as anchor tenant
- Hotel due to open on 14 August 2014
- Other major projects in Berlin and Hamburg are also close to completion
- Market value of property portfolio at end of June 2014 had risen by
more than 10% compared to end of 2013, reaching CHF 595.9 million
Zürich, 31 July 2014 - Peach Property Group AG, a leading property investor
and developer of high-end residential and commercial real estate, today
announced the successful completion of the first stage of its major "Am
Zirkus 1" project in Berlin. The interior work has been finished on the
commercial units covering more than 4,600 square metres, most of which have
already been rented. The anchor tenant is Roland Berger Strategy
Consultants, a leading international management consultancy, who has signed
a long-term lease on attractive market terms. Roland Berger Strategy
Consultants have turned six floors of the "Am Zirkus 1" building into their
new Berlin headquarters.
"Am Zirkus 1" is in a unique location directly on the river Spree in
Berlin, next to the Berliner Ensemble theatre and in the immediate vicinity
of Friedrichstrasse in Berlin-Mitte. This outstanding property comprises
commercial space as well as a 309 room hotel. The Fattal Group will open a
boutique hotel here under the "Leonardo" brand on 14 August 2014. A 20-year
lease agreement has been signed with the Fattal Group.
According to the asset reporting published today, good progress has been
made on the other projects as well. The construction work for "yoo berlin",
the twin project to "Am Zirkus 1", is far enough along that the first
condominiums will soon be handed over to their buyers. Around 92 percent of
the 95 apartments have already been sold including authentication by a
notary public or reserved. The large "Harvestehuder-weg 36" project in
Hamburg is also close to being completed. According to the appraisal of the
independent property experts of Wüest & Partner AG, the market value of the
entire property portfolio rose to CHF 595.9 million as at the end of June
2014, which is an increase of 10.4 percent compared with the end of 2013.
Investment properties account for 26 percent of this figure.
Thomas Wolfensberger, CEO of Peach Property Group AG, said: "We are proud
to have successfully completed this high-quality project at a prime
location in Berlin. With Roland Berger Strategy Consultants, we have
managed to attract one of the most internationally renowned consultancies
as a long-term tenant. We believe this validates our expertise in the
development and marketing of exclusive real estate projects. The next
milestone will be reached soon when the 'Leonardo Berlin Mitte' hotel opens
on 14 August."
The asset report for the second quarter of 2014 is available with the
following link:
http://investoren.peachproperty.com/websites/peachproperty/German/5300/ass
et-reporting.html
Contacts:
Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher,
Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com
Media Germany
edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de
About Peach Property Group AG
Peach Property Group AG is a property investor and developer focused on
investments in Switzerland and Germany. The portfolio includes an
increasing number of investment properties that are designed to generate
sustained income as well as attractive residential development properties.
The Group's activities cover the entire value chain, from site evaluation
to project planning, implementation and marketing. In the investment
segment, the Group is focused on properties with a potential for achieving
attractive yields based on active asset management - typically secondary
locations in the catchment area of urban agglomerations. In the development
segment, the Group concentrates on exceptional locations and properties
with high-end specifications and amenities that meet the requirements of a
demanding clientele.
Peach Property Group AG is headquartered in Zurich and has its German Group
headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss
Exchange (PEAN, ISIN CH0118530366).
For more information, see www.peachproperty.com
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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=CEBVSLCIOI
Document title: Press release
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31.07.2014 This Corporate News was distributed by EQS Schweiz AG.
www.eqs.com - news archive: http://switzerland.eqs.com/de/News
The issuer is responsible for the contents of the release.
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Language: English
Company: Peach Property Group AG
Seestrasse 346
8038 Zürich
Switzerland
Phone: +41 44 485 50 00
Fax: +41 44 485 50 11
E-mail: investors@peachproperty.com
Internet: www.peachproperty.com
ISIN: CH0118530366
Valor: A1C8PJ
Listed: Freiverkehr in Berlin, Stuttgart; Frankfurt in Open Market
; SIX
End of News EQS Group News-Service
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