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Peach Property Group AG celebrates topping out of its residential project at Harvestehuder Weg 36 in Hamburg

02-26-2013 07:26 PM CET | Industry, Real Estate & Construction

Press release from: Peach Property Group AG

- Important project from an architectural and urban development perspective progressing to plan in Hamburg

- 57 exclusive apartments on the banks of the Outer Alster

- First construction tranche almost sold out; around 60% of second tranche notarised or reserved

- Completion in late summer 2013; conclusion of sales also envisaged in 2013

- Volume of sales expected to be in the region of CHF 103 million (EUR 85 million) with a capital return of around CHF 41 million (EUR 33 million)

Zurich/Hamburg, 26 February 2013 - Peach Property Group AG, a leading developer of high-quality residential property in the German-speaking region of Europe, today is celebrating the topping-out ceremony for the second stage of its 'H36' residential development project at Harvestehuder Weg 36 in Hamburg. Work is progressing as planned. Attending the ceremony are Hamburg's Chief Planning Officer, Prof. Jörn Walter; Bernd Hasse, Managing Director of Peach Property Group (Deutschland) AG; and Jürgen Göttsch representing the development's architects, czerner göttsch architekten GmbH.

'The fact that residential construction work is again taking place in the loveliest parts of the city is good for Hamburg and an indication of the attraction it provides,' observes the city's Chief Planning Officer, Prof. Jörn Walter. 'The design by czerner göttsch architekten, realised by Peach Property Group on Harvestehuder Weg, is another prime example of quality architecture in a prominent site.'

Development expected to sell out in 2013
The 'H36' development comprises two parts at Harvestehuder Weg 36 and at Alsterkamp 43. The first stage of construction at Alsterkamp 43 has been completed and 12 of the 13 apartments have been sold. Peach Property Group reports that sales of the 44 apartments on Harvestehuder Weg, for which the cornerstone was laid just last May, are on track. The company is expecting the 'H36' project to net a sales volume in the region of CHF 103 million (EUR 85 million), with a capital return of around CHF 41 million (EUR 33 million).

Exclusive residences on the banks of the Outer Alster
Emerging at Hamburg's best address are five villas housing a total of 57 exclusive private apartments: architecturally, 'H36' is an elegant interpretation of the classic white Alster villa. The location nestles in a unique park landscape and is a source of fascination thanks to its incomparable setting on the banks of the Outer Alster in a traditional Hamburg villa environment.

The apartments, several of which are penthouses, range in size from 65 to 320 m2 and feature between three and six rooms. Sales prices start out at around EUR 7400
per m2.

Alongside attractive living rooms boasting ceilings ranging from three to four metres in height, high-quality interior fittings, and generously proportioned glazing offering views of the Alster or of the unique park landscape, the new occupants benefit from amenities such as a private gym and spa facility approximately 235 m2 in size, plus 121 parking spaces in the underground garage.

'We are delighted at the response our 'H36' project in Hamburg has been receiving,' comments Bernd Hasse, CEO of Peach Property Group (Deutschland) AG. 'By acquiring properties that meet the highest standards of quality and character, the new owners are sure to see the value of their investment maintained over the long term with excellent returns.'

In addition to 'H36', Peach Property Group is currently working on a number of developments in Berlin ('yoo berlin', 'Living 108'), as well as in Wädenswil near Zurich ('Peninsula Beach House'). The topping-out ceremony for 'yoo berlin' was held in November 2012. The group's biggest development at this moment in time is the 30,000 m2 'Peninsula' on the shores of Lake Zurich in Switzerland. Civil engineering work for the project's 'Peninsula Beach House' has been completed recently.

For more information on the project:
www.harvestehuderweg36.de

Photos:
http://www.peachproperty.com/wp-content/uploads/2013/02/H36-Fassade-3-40-cm.jpg
http://www.peachproperty.com/wp-content/uploads/2013/02/H36_Aussenansicht.jpg.jpg
http://www.peachproperty.com/wp-content/uploads/2013/02/H36_Innenansicht.jpg.jpg

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 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 the SIX Swiss Exchange (PEAN, ISIN CH0118530366).

Visit www.peachproperty.com for more information.

Contacts:
Harvestehuder Weg 36
Koopmann.kommunikation | Hans Peter Koopmann
+49 (0)171 45 77 889 | post@koopmannkommunikation.de

Peach Property Group AG
Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
+41 44 485 50 00 | investors@peachproperty.com

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