Ad-hoc | 18 October 2012 07:01
Peach Property Group AG / Key word(s): Agreement/Real Estate
18.10.2012 07:01
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press release
Peach Property Group reports further success in Germany: large-scale
development 'Am Zirkus 1' in Berlin almost fully let
- First-class anchor tenant renting six floors in the emerging prestige
building on the Spree
- Rental agreement term of seven years with option to renew for further
five years
- Letting success is evidence of expertise by Peach Deutschland and
Deutsche Immobilien in the letting of large areas
- Overall project with unique character features exceptional architecture
and prestigious location
Zurich, 18 October 2012 - Peach Property Group AG, a leading developer of
top-quality residential property in the German-speaking region of Europe,
has achieved an important rental success in Germany by securing a globally
leading consulting company as its new anchor tenant for the 'Am Zirkus 1'
building in Berlin. The consulting company is renting a total of 2.586 m2
of commercial space in the emerging prestige property, distributed across
floors four to nine. The rental agreement has been concluded for a term of
seven years, with an option by the tenant to extend the tenancy for a
further five years.
Unique building in a prestigious location
'Am Zirkus 1' forms part of the twin 'yoo berlin/Am Zirkus 1' project,
which Peach Property Group AG is realising in Berlin-Mitte at a historical
location near the Berliner Ensemble on the banks of the Spree. Marking yet
another milestone for this project, this rental agreement follows a 20-year
lease agreement for the hotel area. As a result, 'Am Zirkus 1' is now
almost fully let. Deutsche Immobilien AG holds a minority stake in 'Am
Zirkus 1'.
In the adjoining section of the building, Peach Property Group AG, under
the name 'yoo berlin', is realising 95 top-quality residential apartments
designed by star designer Philippe Starck. More than 75% of the apartments
have already been either notarised or reserved. 'yoo berlin/Am Zirkus 1' is
scheduled for completion in the first half of 2013.
Bernd Hasse, Managing Director of Peach Property Group (Deutschland): 'Our
success in securing a first-class anchor tenant for our 'Am Zirkus 1'
development speaks volumes for the strategic market approach we adopt when
it comes to letting large areas. The reputation of a world-leading strategy
consultancy and the unique character of our new building in the prestigious
location create a perfect fit.'
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 SIX Swiss Exchange (PEAN, ISIN CH0118530366). At the beginning
of October Peach Property Group AG announced its intention to float its
subsidiary, Peach Property Group (Deutschland) AG, on the Prime Standard of
the Frankfurt Stock Exchange during the 4th quarter 2012.
Visit www.peachestates.com for more information.
18.10.2012 News transmitted by EquityStory AG.
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@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
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