Ad-hoc | 27 September 2012 07:02
Peach Property Group AG / Key word(s): Real Estate
27.09.2012 07:02
Release of an ad hoc announcement pursuant to Art. 53 KR
---------------------------------------------------------------------------
Press release
Peach Property Group extends portfolio in Germany: purchase of former
Hoesch headquarters in Dortmund
- Centrally located historic office building with large potential
- Lettable area of around 17,700 m2
- Extensive renovation and transformation for commercial andresidential
use
Zurich, 27 September 2012 - Peach Property Group AG, a leading developer of
top-quality residential property in the German-speaking region of Europe,
has, through its Germany subsidiary, acquired two historic properties in
Dortmund city centre. The vendor of the properties is a closed-end fund.
Crown Credit Services GmbH was supporting the sales process. The parties
have agreed to keep the purchase price confidential.
Peach Property Group intends to subject the two buildings to a
comprehensive programme of renovation and refurbishment, while respecting
their history and heritage. The company is planning a mix of commercial and
residential use. The acquired properties are not far from the 'U' cultural
centre in Dortmund's pulsating Union District which, in the coming years,
is due to undergo extensive renewal that will do much to enhance its
potential as a quality location.
Bernd Hasse, Managing Director of Peach Property Group (Deutschland) GmbH:
'With this major refurbishment project, we intend to combine Peach Property
Group's ability to create unique residential properties at high-profile
locations with its expertise in integrating into the portfolio investment
properties offering attractive yields. This has the advantage of equally
generating value for our customers and for our investors. We are proud to
contribute to Dortmund's urban development at this location that offers
significant potential for the future.'
The main building at Rheinische Strasse 173 was built between 1916 and 1921
and served for many years as the head offices of the Hoesch Union. The
premises are heritage-protected and feature an imposing neoclassical
design. They boast prestigious interiors and an impressive entrance hall.
The lettable area exceeds 15,000 m2. Its previous occupier, Dortmund's
utilities office, relocated to new premises last year, as a consequence of
which work on the building can begin without delay. The second building
acquired by Peach Property Group is at Rheinische Strasse 167-171 and
offers a further 2,700 m2 of lettable space.
Peach Property Group develops and markets attractive residential property
projects with strong brands in the luxury segment, and is also establishing
a high-yielding portfolio of investment properties.
Rheinische Strasse 173, Dortmund
The facade:
http://www.peachestates.com/wp-content/uploads/2012/09/dortmund-15.jpg
The conference room:
http://www.peachestates.com/wp-content/uploads/2012/09/dortmund-1.jpg
The entrance hall:
http://www.peachestates.com/wp-content/uploads/2012/09/dortmund-7.jpg
Contacts
Investors and analysts:
Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
+41 44 485 50 00, investors@peachestates.com
Media
Siro Barino, Barino Consulting
+41 79 335 24 24, info@barino.ch
About Peach Property Group
Peach Property Group AG is a leading developer in the field of top-quality
residential property in the German-speaking region of Europe. Its
activities cover the entire prime property development value chain, from
site evaluation to project planning, implementation and marketing. Peach
Property Group focuses on city and holiday residences in exceptional
locations and featuring highest-quality fittings for a discerning
clientele. The company's integrated corporate strategy encompasses not only
the development of high-quality residential properties, but also the
management of investment properties for the purpose of generating
consistent annual revenues.
Peach Property Group AG is headquartered in Zurich and also has a branch
office in Cologne. The Group's current projects account for a total target
marketing volume of approximately CHF 800 million. Peach Property Group AG
is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).
Visit www.peachestates.com for more information.
27.09.2012 News transmitted by EquityStory AG.
The issuer is responsible for the contents of the release.
EquityStory publishes regulatory releases, media releases on the capital
market and press releases.
The EquityStory Group distributes authentic and real-time financial news
for over 1'300 listed companies.
The Swiss news archive can be found at www.equitystory.ch/news
---------------------------------------------------------------------------
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@peachestates.com
Internet: www.peachestates.com
ISIN: CH0118530366
Swiss Security Number: A1C8PJ
Listed: Freiverkehr in Berlin, Stuttgart; Open Market in
Frankfurt; SIX
End of Announcement EquityStory News-Service
---------------------------------------------------------------------------