Peach Property Group AG

EQS-News: Peach Property Group reports progress at its Wollerau project near Zurich: 45% of apartments sold and start of construction

EQS Group-News: Peach Property Group AG  / Key word(s): Real Estate
Peach Property Group reports progress at its Wollerau project near Zurich: 45%
of apartments sold and start of construction

31.05.2016 / 07:00
The issuer is solely responsible for the content of this announcement.

Press release

Peach Property Group reports progress at its Wollerau project near Zurich: 45%
of apartments sold and start of construction

-More than 45 percent of "Wollerau Park" project notarised or reserved, clearly
exceeding pre-sales rate

-Construction has started; dismantling already at an advanced stage

-By the beginning of 2018, 46 high-quality apartments and 10 commercial units
with a sales volume of CHF 87 million will be built

-Cash return of CHF 30 million expected upon project completion

Zurich, 31 May 2016 - Peach Property Group, an investor specialising in
portfolio management in Germany with a focus on residential property and
selected development projects, today announced the achievement of key milestones
at its "Wollerau Park" project near Zurich. Apartments worth CHF 40 million have
already been reserved or notarised and therefore construction was started. The
sales or reservations represent more than 45 percent of the expected sales
volume of just under CHF 87 million, thus clearly exceeding the pre-sales rate.
After completing the project and repaying liabilities related to it, the Group
expects a cash return of CHF 30 million.

The project is divided into two sections, "Wollerau Lofts" and "Wollerau
Residenzen". The park-like development on a land area of more than 10,800 sqm is
scheduled to be completed by early 2018. In total, 46 high-quality condominiums
will be built. "Wollerau Park" is located in one of the most tax-friendly
communities in Switzerland, in direct vicinity to Zurich. Further project
information as well as a list with available apartment can be found

"The success of the "Wollerau Park" concept as well as the very positive
response of our customers underlines that we truly met a market demand with this
development" says Dr. Andreas Steinbauer, Head of Sales and Marketing at Peach
Property Group.

The project was officially approved by the authorities in March 2015. After a
successful pre-sale process, construction has now been initiated. The existing
buildings are currently being dismantled - with construction of the new
buildings to begin immediately thereafter. For this purpose, an agreement with a
leading Swiss construction company was signed, which ensures certainty in terms
of planning, execution and costs for this project.

Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, said: "We are very
pleased about the progress made with our project in Wollerau, which we expect to
generate a substantial payback. With construction having commenced now, we are
well on track."


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 is a property investor and developer focused on investments
in Germany and Switzerland. The Group stands for long time experience,
competence and quality. Innovative solutions for modern housing needs, strong
partnerships and a wide value chain complete the profile of the Group. The
portfolio consists of an increasing number of high yield investment properties,
typically in B-cities in close reach to metropolitan areas. In addition, the
Group develops properties for its own portfolio or for the sale as condominium.
Developments for sale focus on A-locations and encompass attractive architecture
and high level furnishing for an international clientele. The business
activities of the Group cover the entire value chain, from property acquisition
and site selection to active asset management and finally to the sale or lease
of properties.

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,
Additional features:

Document title: Press Release

31.05.2016  This Corporate News was distributed by Tensid EQS AG.

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
467617  31.05.2016 

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