EQS Group-News: Peach Property Group AG / Key word(s): Real Estate
Peach Property Group reports progress at its Wollerau project near Zurich: 45% of apartments sold and start of
construction
2016-05-31 / 07:00
The issuer is solely responsible for the content of this announcement.
Press release
Peach Property Group reports progress at its Wollerau project near Zurich: 45% of apartments sold and start of
construction
- More than 45 percent of "Wollerau Park" project notarised or reserved, clearly exceeding pre-sales rate
- Construction has started; dismantling already at an advanced stage
- By the beginning of 2018, 46 high-quality apartments and 10 commercial units with a sales volume of CHF 87 million
will be built
- Cash return of CHF 30 million expected upon project completion
Zurich, 31 May 2016 - Peach Property Group, an investor specialising in portfolio management in Germany with a focus on
residential property and selected development projects, today announced the achievement of key milestones at its
"Wollerau Park" project near Zurich. Apartments worth CHF 40 million have already been reserved or notarised and
therefore construction was started. The sales or reservations represent more than 45 percent of the expected sales
volume of just under CHF 87 million, thus clearly exceeding the pre-sales rate. After completing the project and
repaying liabilities related to it, the Group expects a cash return of CHF 30 million.
The project is divided into two sections, "Wollerau Lofts" and "Wollerau Residenzen". The park-like development on a
land area of more than 10,800 sqm is scheduled to be completed by early 2018. In total, 46 high-quality condominiums
will be built. "Wollerau Park" is located in one of the most tax-friendly communities in Switzerland, in direct vicinity
to Zurich. Further project information as well as a list with available apartment can be found at www.wollerau-park.ch.
"The success of the "Wollerau Park" concept as well as the very positive response of our customers underlines that we
truly met a market demand with this development" says Dr. Andreas Steinbauer, Head of Sales and Marketing at Peach
Property Group.
The project was officially approved by the authorities in March 2015. After a successful pre-sale process, construction
has now been initiated. The existing buildings are currently being dismantled - with construction of the new buildings
to begin immediately thereafter. For this purpose, an agreement with a leading Swiss construction company was signed,
which ensures certainty in terms of planning, execution and costs for this project.
Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, said: "We are very pleased about the progress made with our
project in Wollerau, which we expect to generate a substantial payback. With construction having commenced now, we are
well on track."
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
About Peach Property Group AG
Peach Property Group 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
Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=QMAEFBWDOG
Document title: Press Release
2016-05-31 This Corporate News was distributed by Tensid EQS AG. www.eqs.com
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
Valor: A1C8PJ
Listed: Regulated Unofficial Market in Berlin, Stuttgart; Open Market in Frankfurt; SIX
End of News EQS Group News Service
467617 2016-05-31
(END) Dow Jones Newswires
May 31, 2016 01:00 ET (05:00 GMT)
