Peach Property Group AG

EQS-News: Peach Property Group extends lease with EDEKA in Erkrath by more than 16 years

EQS Group-News: Peach Property Group AG  / Key word(s): Real Estate
Peach Property Group extends lease with EDEKA in Erkrath by more than 16 years

05.10.2015 / 07:00
Press release

Peach Property Group extends lease with EDEKA in Erkrath by more than 16 years

-Lease agreement with Edeka Group extended until the end of 2031

-EDEKA increases rented space to total of 6,700 m² of commercial space from
Peach in Erkrath near Düsseldorf

-Full occupancy through general rental agreement with EDEKA

Zurich, 5 October 2015 - Peach Property Group AG, a specialist investor in
high-potential residential and commercial properties, today announced a major
rental success in its property portfolio. The company has extended its lease
with Germany's largest food retailer, the Edeka Group (EDEKA), for its
commercial property in Erkrath near Düsseldorf ahead of time by over 16 years
until the end of 2031. Furthermore, under the new agreement EDEKA will rent the
entire building with all commercial and residential units as the sole tenant;
previously it had rented 95% of the total lettable space of 6,700 m².

In Peach Property Group's building at the centre of Erkrath-Hochdahl, located
directly on the market square, the Edeka Group has run a freshness centre with a
food market since 2005 and is now planning to make investments in the low
single-digit million Euro range to modernize its space. In addition to an
attractive, state-of-the-art store design, parts of the building and shop
technology are also to be updated. Peach Property Group will also invest in
modernising the entrance area as well as the building technology.

Peach Property Group had acquired the property in 2012 as part of a portfolio
together with 143 apartments and other commercial units. The property is
situated in an attractive location just a few kilometres from the centre of
Düsseldorf and boasts an excellent transport network. From the Erkrath property
alone Peach generates annual rental income adding up a seven-figure Euro sum.
The annual target rental income of all of Peach Property Group's investment
properties, which make up 61% of the value of its property portfolio, currently
amounts to EUR 10.8 million/CHF 11.5 million.

Dr. Thomas Wolfensberger, CEO of Peach Property Group, comments: "We are
delighted that with EDEKA we were able to get a first-class tenant to make a
long-term commitment. This will safeguard rental income so that we can generate
sustained earnings for a significant period. What is more, it is entirely in
line with our strategy of increasing our focus on investment properties aimed at
increasing value. The fact that the commercial units in this property have been
rented to a single retailer with an excellent credit rating for an extended
period - a retailer that along with us is investing a considerable sum in
modernizing the space - will substantially increase the value of this property.
This success is testament to the effectiveness of our asset management and the
quality of our property portfolios."


Media, investors and analysts

Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief
Financial Officer
+41 44 485 50 00 |

Media Germany

edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
+49 (0) 69 90 55 05 52 |

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

Additional features:

Document title: Press release

05.10.2015  This Corporate News was distributed by EQS Schweiz AG. -
news archive:

The issuer is responsible for the contents of the release.

Language: English

Company:  Peach Property Group AG

          Seestrasse 346

          8038  Zürich


Phone:    +41 44 485 50 00

Fax:      +41 44 485 50 11


ISIN:     CH0118530366

Valor:    A1C8PJ

Listed:   Regulated Unofficial Market in Berlin, Stuttgart; Open Market in
Frankfurt ; SIX

End of News EQS Group News Service


399799  05.10.2015 

Weitere Meldungen: Peach Property Group AG

Das könnte Sie auch interessieren: