openPR Logo
Press release

Peach Property Group sells Gretag property in Regensdorf near Zurich

03-04-2016 09:53 AM CET | Industry, Real Estate & Construction

Press release from: Peach Property Group AG

- 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 for 665 apartments to Turidomus Anlagestiftung. The respective purchase agreement has been notarised yesterday. The sale will generate payback of around CHF 70 million or more than CHF 14 per share for Peach Property Group. This means that Peach Property Group is selling the property at a significantly higher price than the purchase price. This figure is also higher than the current carrying amount and rewards the value-enhancing development of the property in recent years. Peach Property Group expects the transaction to be completed by the end of March 2016.

The property now sold comprises of two plots spanning around 36,000 m². It is located not far from Zurich, in direct proximity to Regensdorf train station. The site currently covers several commercial properties and has a sizeable land reserve for future construction. The Gretag property is a key component of the "Bahnhof-Nord" development zone north of the train station, currently the largest development area in the Canton of Zurich. After intensive planning work, the community assembly in Regensdorf resolved on a partial revision of the construction and zoning regulations and approved the private "Gretag property" design plan at the beginning of December 2015. This was a milestone in the development of the area.

The funds generated from the transaction will be used primarily to reduce liabilities and thus further strengthen the Group's equity ratio. In addition, the investment portfolio will be expanded further, primarily in Germany.

Dr. Thomas Wolfensberger, CEO of Peach Property Group, comments: "In selling the Gretag property, we are harvesting the fruits of its development, which we have rigorously advanced in recent years. We are delighted to have found an experienced, financially sound investor in Turidomus Anlagestiftung that will implement the construction project in the same vein. The transaction will generate substantial funds for us, which we will use to significantly reduce our liabilities. This particularly includes refinancing our bond in Germany. Our equity ratio is thus expected to further rise."

About Peach Property Group AG

Peach Property Group AG is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.

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

Contact:

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

German media

edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
Eschersheimer Landstraße 42, 60322 Frankfurt am Main
+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 sells Gretag property in Regensdorf near Zurich here

News-ID: 325161 • Views: 1131

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 announces agenda for the General Meeting to be held on 8 Ma …
Zurich, 9 April 2015 – Peach Property Group AG, a leading investor in residential and commercial real estate, today announced the agenda for its Annual General Meeting to be held on 8 May 2015 at 2pm in the Park Hyatt Hotel in Zurich. One of the proposals the Board of Directors will submit to the General Meeting is to create authorised capital of CHF 2 million. This proposal is intended

All 5 Releases


More Releases for German

German Maritime Security 2018, German Government Statement!
Despite all international and national efforts, piracy remains a serious peril for the international shipping industry. Especially in Asia (i.e. Chittagong/Bangladesh or on the Strait of Malacca), but also in South America (e.g. Bay of Santos/Brazil or in the port of Callao/Peru) robbery or piracy there has recurred in the recent past. At the West African coast the number of incidents had raised even by 50% with 66 incidents this
More German Investments Mean More German Translations
Why Language Continues to be an Obstacle for Investing in Germany Germany is one of the prime markets for foreign investments, with an estimated 4% of global direct investment making its way into the country. In fact, the world’s second richest man, Warren Buffett, who is only beaten to the top spot on the financial leaderboard by Microsoft Founder Bill Gates, believes Germany to be a ‘great market’, and confirms the
German Design Award 2015
German Design Council Awards a Special Mention to the LR 1000 Laboratory Reactor and Nominates the Tube Mill Staufen, Germany, February 23, 2015 — For the second time, a device produced by IKA® Werke has received the "Special mention for exceptional design quality" award from the German Design Council. The company was presented with the award in the "Excellent Product Design — Industry" category as part of the German Design Award 2015
German Local Trade Tax
All the companies in Germany are liable to pay not only corporate income tax, whose rate is nowadays about 15% of the annual profit of the company, but also trade tax (Gewerbesteuer), which is a tax of German characteristics. Why would we say that trade tax is of German characteristics? Because it is different from the corporate income tax, which is charged by the German Federal Government and it is difficult
Integral Launches German Bureau
Integral Launches German Bureau Appoints Suchit Manchanda as the Head of Operations January 4, 2010: Germany: Integral Fusion, a leading software services firm, has launched operations in Germany and announced the appointment of Suchit Manchanda as their Managing Director. The German bureau will be responsible for strategic business development in European Union organizations and client servicing. Suchit a world class MBA from Hochschule Nürnberg, Germany and a Masters in IT from Jamia
ISPA – German Masters 2008
Magdeburg – Over the long weekend of the 4. Mai more than 1.000 Skat players filled the Mittelland hall in Barleben. The tournaments of the 30. German Mastery and the 27. open International German Single Mastership were held by the International Skat Players Association, ISPA Germany. Patrons of the Games were the 1st Barleber Skat sports club e.V. and the Skat club \"Burger Ihleskater\", whose good organization together with the