openPR Logo
Press release

Peach Property Group AG successfully completes first stage of major “Am Zirkus 1” project in Berlin

08-01-2014 07:49 PM CET | Industry, Real Estate & Construction

Press release from: Peach Property Group AG

• Roland Berger Strategy Consultants have moved in as anchor tenant
• Hotel due to open on 14 August 2014
• Other major projects in Berlin and Hamburg are also close to completion
• Market value of property portfolio at end of June 2014 had risen by more than 10% compared to end of 2013, reaching CHF 595.9 million

Zürich, 31 July 2014 – Peach Property Group AG, a leading property investor and developer of high-end residential and commercial real estate, today announced the successful completion of the first stage of its major “Am Zirkus 1” project in Berlin. The interior work has been finished on the commercial units covering more than 4,600 square metres, most of which have already been rented. The anchor tenant is Roland Berger Strategy Consultants, a leading international management consultancy, who has signed a long-term lease on attractive market terms. Roland Berger Strategy Consultants have turned six floors of the “Am Zirkus 1” building into their new Berlin headquarters.

“Am Zirkus 1” is in a unique location directly on the river Spree in Berlin, next to the Berliner Ensemble theatre and in the immediate vicinity of Friedrichstrasse in Berlin-Mitte. This outstanding property comprises commercial space as well as a 309 room hotel. The Fattal Group will open a boutique hotel here under the “Leonardo” brand on 14 August 2014. A 20-year lease agreement has been signed with the Fattal Group.

According to the asset reporting published today, good progress has been made on the other projects as well. The construction work for “yoo berlin”, the twin project to “Am Zirkus 1”, is far enough along that the first condominiums will soon be handed over to their buyers. Around 92 percent of the 95 apartments have already been sold including authentication by a notary public or reserved. The large “Harvestehuder-weg 36” project in Hamburg is also close to being completed. According to the appraisal of the independent property experts of Wüest & Partner AG, the market value of the entire property portfolio rose to CHF 595.9 million as at the end of June 2014, which is an increase of 10.4 percent compared with the end of 2013. Investment properties account for 26 percent of this figure.

Thomas Wolfensberger, CEO of Peach Property Group AG, said: “We are proud to have successfully completed this high-quality project at a prime location in Berlin. With Roland Berger Strategy Consultants, we have managed to attract one of the most internationally renowned consultancies as a long-term tenant. We believe this validates our expertise in the development and marketing of exclusive real estate projects. The next milestone will be reached soon when the ‘Leonardo Berlin Mitte’ hotel opens on 14 August.”

The asset report for the second quarter of 2014 is available with the following link:

http://investoren.peachproperty.com/websites/peachproperty/German/5300/asset-reporting.html

About Peach Property Group AG
Peach Property Group AG is a property investor and developer focused on investments in Switzerland and Germany. The portfolio includes an increasing number of investment properties that are designed to generate sustained income as well as attractive residential development properties. The Group’s activities cover the entire value chain, from site evaluation to project planning, implementation and marketing. In the investment segment, the Group is focused on properties with a potential for achieving attractive yields based on active asset management – typically secondary locations in the catchment area of urban agglomerations. In the development segment, the Group concentrates on exceptional locations and properties with high-end specifications and amenities that meet the requirements of a demanding clientele.

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, see www.peachproperty.com

Contacts:

Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher,
Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com

Media Germany
edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Peach Property Group AG successfully completes first stage of major “Am Zirkus 1” project in Berlin here

News-ID: 292616 • Views: 3930

More Releases from Peach Property Group AG

Peach Property Group resolves capital increase
Kreissparkasse Biberach becomes new anchor investor with 7.8% shares - 422,554 new registered shares issued from authorised capital - Kreissparkasse Biberach becomes Peach Property Group AG's second largest shareholder with 7.8% - Peach Property Group AG's free float remains at a high 70% - Proceeds will be used to finance acquisitions in residential real estate in Germany - First day of trading of new shares - 7 April 2017 Zurich, 4 April 2017 -
Peach Property Group tops up hybrid bond
• Private placement of CHF 12.5 Mio. with international investors • Issue volume increases to a total of CHF 37.5 million • Proceeds to be used for expanding the investment portfolio Zurich, 7. April 2016 – Peach Property Group, an investor specialising in the management of residential property in Germany, today announced that is has topped up its hybrid bond issued in December 2015 by an additional CHF 12.5 million by way of a private
Peach Property Group acquires further residential properties in Lower Saxony and …
• Acquisition of 287 apartments and 3 commercial units • Living space of 19,700 square metres • Gross initial yield over 10 percent • Attractive upside potential due to 50% vacancy rate to be realised through sustainable revitalisation measures • Joint management with existing portfolio provides efficiency gains Zurich, 4 April 2016 – Peach Property Group, an investor specialising in the management of residential property in Germany, today announced the notarisation of an agreement to acquire 287 apartments and 3
Peach Property Group sells Gretag property in Regensdorf near Zurich
- Purchase agreement with Turidomus Anlagestiftung notarised - Transaction expected to be completed by the end of March 2016 - Net-Cash inflow of nearly CHF 70 million or CHF 14 per share - Solid balance sheet - further strengthening of equity ratio Zurich, 4 March 2016 - Peach Property Group AG, a leading investor in real estate, today announced the sale of its Gretag property in Regensdorf, Switzerland, along with the planned construction project

All 5 Releases


More Releases for Berlin

Architectural Guide Berlin
With additional contributions by Philipp Meuser and Martin Pueschel In no other place in Europe have changing ideologies and differing urban planning models left such a far-reaching mark as in Berlin. The German capital enables the reader to make a literal journey through history. In the shape of four excursions, the Architectural Guide Berlin presents prominent architectural highlights from Kurfürstendamm in the West to the prefab housing estates of the East. The
Premises Berlin
Third inCOMMERCE conference on November 27 at the Bertelsmann Commerce Without Boundaries • Renowned speakers provide insights into their companies’ digitization projects and explore current developments on the international markets • Presentations and case studies from Vorwerk, E-Plus and Tesco (arvato Systems, hybris) Gütersloh and Munich – International e-commerce and best practices in the e-commerce sector are the focal themes of this year’s inCOMMERCE conference on November 27, 2014 in Berlin. For the
citystay hostel Berlin gets ready for the 40th Berlin Marathon
As every year, the Marathon is fully booked and we at citystay hostel, just next to start and finalline are getting ready for the runners, staying with us. If you are not running the marathon, but like to get the feeling for the international crowd doing the run, just visit us for a beer, coffee or stay during the marathon with us. Some beds are still available. We are happy
Berlin local and digital
A10 shopping centre in Berlin: Wallpaper is an attractive wall covering for the retail trade Bückeburg, 7 November 2012 - Visual attractions are a proven means of drawing customers into shops. As a result the operator of the A10 shopping centre in Berlin chose customised printable Erfurt CA wallpaper from Neschen. ECE took the decision to use wallpaper and in particular the Erfurt CA wallpaper at an early stage. "As
Chef at Hotel Berlin, Berlin second in world championship
Sous-chef Susanne DeOcampo-Herrmann wins silver with Germany's national team of chefs Since Friday, the Hotel Berlin, Berlin has now a world champion silver mdealist among its ranks in the person of Susanne DeOcampo-Herrmann. The hotel's sous-chef won the silver medal at the Culinary Challenge in Singapore together with Germany's national team of chefs. The competition, which is only held every four years, is regarded as an ideal opportunity for leading figures
Happy Birthday Hotel Berlin, Berlin
On the 26th of April, the Hotel Berlin, Berlin celebrated its 52nd Birthday. Looking back at such a great history and at the same time being creative and innovative is something that this house incorporates every day. The hotel combines a long tradition with modern settings. It can look back at an exciting past and towards a promising future. Many heads of State have chosen the Hotel Berlin for their stay