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12.07.2016 – 07:05

Peach Property Group AG

EQS-News: Peach Property Group and NOVUM Hotel Group conclude 20-year lease agreement: former Hoesch headquarters in Dortmund will be transformed into a 4-star hotel with 210 rooms

EQS Group-News: Peach Property Group AG  / Key word(s): Real Estate
Peach Property Group and NOVUM Hotel Group conclude 20-year lease agreement:
former Hoesch headquarters in Dortmund will be transformed into a 4-star hotel
with 210 rooms

12.07.2016 / 07:00
Press release

Peach Property Group and NOVUM Hotel Group conclude20-year lease agreement:
former Hoesch headquarters in Dortmund will be transformed into a 4-star hotel
with 210 rooms

-Hotel with 210 rooms planned in historic building

-Lease agreement concluded with NOVUM Hotel Group for a 4-star hotel as "NOVUM

-Tenders for conversion work are underway

-Completion planned for the end of 2018

Zurich, 12 July 2016 - Peach Property Group, an investor specialising in
portfolio management in Germany with a focus on residential property and
selected development projects, has achieved further progress in transforming the
former Hoesch headquarters in Dortmund. Planning permission to convert the
historic building was obtained last year, and Peach has now concluded a 20-year
lease agreement with Hamburg-based NOVUM Hotel Group, which is enjoying dynamic
growth. The NOVUM Hotel Group will start operating the hotel with 210 rooms and
space of around 15,500 m2 (gross floor space) under the "NOVUM Select" brand in
spring 2019. The NOVUM Hotel Group currently holds 84 hotels in Germany and
other European countries. The hotel group already operates a "NOVUM Hotel
Unique" and a "NOVUM Hotel Excelsior" in Dortmund, and is thus well acquainted
with the local market.

The building is currently vacant, and will be converted into a 4-star hotel
while maintaining its historic, protected substance. The responsible authorities
already issued the requisite planning permission in 2015, and tenders for the
conversion work are currently running. It is planned to start the construction
work at the end of 2016 and to complete this by the end of 2018.

In addition to the hotel, the property has around 1,700 m2 of additional space
that is available for an alternative use. Peach Property Group is currently in
advanced-stage negotiations with an interested party for this space. Peach
Property Group is forecasting total annual rental income of around EUR 1.5
million for a fully let property. As it is possible to write down investments in
this building at an accelerated rate thanks toDenkmal AfA(deprecation for the
use of listed buildings), this property will earn attractive returns after

The property enjoys a central location at Rheinische Straße 173 to the west of
Dortmund's city centre, and was built between 1916 and 1921. The listed building
has neoclassical architecture and a total rental area of around 17,200 m2 (gross
floor space) and is close to the "U" cultural centre in the up-and-coming
Unionviertel in Dortmund. This district will be extensively redeveloped in the
coming years.

Dr. Thomas Wolfensberger, Peach Property Group's CEO, commented: "We are very
pleased that we have been able to acquire a top-class, financially strong tenant
for this historic property in the form of the NOVUM Hotel Group. We have once
again proven our ability to manage complex real estate projects. We are now
entering into the next stage of realisation by concluding this lease and to
further developing the property."

David Etmenan, managing partner with NOVUM Hotel Group added: "We are very
pleased that we are expanding our portfolio of hotels by adding this very
special project, and that we will be able to offer our guests an exclusive
4-star NOVUM Select Hotel in Dortmund after its completion."


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,

About NOVUM Hotel Group

The family-run NOVUM Hotel Group ranks among Germany's largest hotel groups with
a current total of 84 hotels and 8,000 rooms in 26 locations in Europe. NOVUM
Hotel Group was formed in 1988 and has enjoyed solid on-track growth since 1988.
It is an extraordinarily dynamic group managed by David Etmenan.

Its portfolio includes 3 and 4-star hotels, always in central locations, and
these are run under the NOVUM Hotels, NOVUM Select, NOVUM Style and NOVUM
LikeApart brands.


Jasmin-Madeleine Christensen-Matassa
PR Manager
Lange Reihe 2
20099 Hamburg
T +49 40/ 600 808 - 264
Additional features:

Document title: Press Release

12.07.2016  This Corporate News was distributed by Tensid EQS AG.


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
480883  12.07.2016