Corporate | 14 February 2013 17:40


Peach Property Group AG : Successful conclusion of subterranean work and commencement of superstructure work at Peninsula Beach House in Wädenswil


Peach Property Group AG / Key word(s): Real Estate

14.02.2013 / 17:40

Press release

Peach Property Group AG: Successful conclusion of subterranean work and commencement of superstructure work at Peninsula Beach House in Wädenswil

– Construction progress right on schedule

– Milestone reached: Implenia AG completes subterranean work

– 13 of 23 condominiums already sold

– Capital reflows of CHF 10 to 12 million within two years

Zurich, 14 February 2013 – Peach Property Group AG, a leading developer of high-quality residential real estate in the German-speaking region of Europe, has successfully completed subterranean work on the ‘Peninsula Beach House’ in Wädenswil outside of Zurich and commenced superstructure work according to plan. Completion of this exclusive project, with its luxurious condominiums directly on the shores of Lake Zurich, is scheduled for mid-2014. 13 of the 23 residential units have already been sold. Peach Property Group anticipates that this project will generate cashflows of CHF 10 to 12 million by the end of 2014.

Handover for the start of superstructure work
The highly demanding subterranean work for the ‘Peninsula Beach House’ was performed by the specialised Implenia AG, and the company mastered the expected challenges to perfection: 30,000 m 3 of excavated material had to be transported away; 223 displacement piles were bored into the ground to ultimately support the superstructure; for prevention groundwater intrusion into the construction pit, the substrate was sealed by means of a vibro-compaction process; and three tie positions for the 231 tension anchors were embedded into the ground to support the ten-metre-high excavation walls. The creation of a blinding layer out of lean concrete that covers the entire base area of the ‘Peninsula Beach House’ represented the final part of the subterranean work. Alfred Müller AG from Zug (Switzerland) has now seamlessly commenced work on the superstructure.

The ‘Peninsula Beach House’ is one of the most exclusive residential construction projects on the Lake of Zurich and offers a quality of life that is rarely to be found. Its future residents will enjoy direct access to the Lake and a breath-taking panoramic view. The saleable floor space amounts to 4,745 m 2 . The condominiums, with a sales price starting at CHF 2.5 million, are harmoniously nestled in an idyllic park designed by landscape architect Enzo Enea. The ‘Peninsula Beach House’ also encompasses a private fitness and wellness area with spa, squash, exercise and indoor golf facilities, an aerobics room, as well as a 20-metre indoor pool and relaxation bath.

Further projects planned
Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, commented: ‘We are very pleased about this successful conclusion of subterranean work. It represents an important milestone in the evolution of the ‘Peninsula Beach House’. The work has progressed smoothly and rapidly, so we are right on schedule in realising this unique project.’

The ‘Peninsula Beach House’ is the first of a total of six projects that Peach Property Group is planning for the grounds of the historically significant Giessen industrial park in Wädenswil. The company is also pursuing development projects in Hamburg (‘Harvestehuder Weg 36’, H36) and Berlin (‘yoo berlin’, ‘Living 108’). The topping-out ceremony for ‘yoo berlin’ was held this past November, and the topping-out ceremony for the second building phase for H36 will take place on 26 February. The ‘Schooren des Alpes’ project, with its twelve high-quality condominiums in Kappl bei Ischgl (Austria) was completed just recently.

Further information on the ‘Peninsula Beach House’ and the overall Peninsula project can be accessed at:

www.beach-house.ch
www.waedenswil-peninsula.ch

Webcam:
www.beach-house.ch/webcam

Pictures ‘Peninsula Beach House’:
http://www.peachproperty.com/wp-content/uploads/2012/04/PBH-Aussen-Presse.jpg
http://www.peachproperty.com/wp-content/uploads/2012/04/PBH-San-Simeon.jpg
http://www.peachproperty.com/wp-content/uploads/2012/04/PBH-Wellness.jpg

Contacts for investors, analysts and media:
Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
+41 44 485 50 00
investors@peachproperty.com

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, with units that feature the 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 operating income.

Peach Property Group AG is headquartered in Zurich and also has a branch office in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Visit www.peachproperty.com for further information.



End of Corporate News

14.02.2013 This press release was distributed by EQS CORPORATE COMMUNICATIONS.
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The issuer is responsible for the contents of the release.

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@peachproperty.com
Internet: www.peachproperty.com
ISIN: CH0118530366
Swiss Security Number: A1C8PJ
Listed: Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt; SIX
End of News EquityStory AG News-Service
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