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Zürich, 27 May 2011   Peach Property Group and Enea Landscape Architecture to build residences on the exclusive peninsula bordering Wädenswil by the Lake of Zurich

On the former industrial site “Giessen,” in Wädenswil, an historical landmark located on the 30,000 m² peninsula, an exclusive residential development is being built. The new residences are part of a project, named simply „Peninsula“, to revitalize the partially heritage-protected site and supplement it with residential buildings of high architectural value, some of which offer direct lake access .

The environmental landscape design has been entrusted to Enzeo Enea, one of the most respected landscape architects worldwide.
Enzo Enea, proprietor of Enea Landscape Architecture, said: „It is a rare challenge to transform this geographically and architecturally intriguing peninsula into a fascinating experience, for the new residents as well as the general public. My objective is to establish a perfect symbiosis between the setting, positioning of buildings and the architecture. The envisioned result is a generous park which opens toward the lake in harmonious confluence with the surrounding landscape“.

Thomas Wolfensberger, CEO Peach Property Group, said: „Enzeo Enea is a stroke of luck for Peach. I don’t know anyone else who composes garden landscapes with such sensitivity, creative verve and professional precision. Having Enea collaborate with Peach in shaping the peninsula adds an important asset for future residents as well as the general public“.

Construction activity has already begun at building site B for Peach Property’s „Beach House“ project. By early 2013 the site will accommodate 23 luxury condominiums with living spaces between 130 and 290 m², a private 400m² spa and fitness area, an integrated yoga, Pilates, aerobic and squash centre, a 20m indoor pool and a park adjoining the lake.

Enzeo Enea designed a four meter high yew hedge to make the nearby railway line, which runs behind a state-of-the-art sound barrier, all but non-existent. The dark green hedge creates a vigorous backdrop and transforms the area into an idyllic courtyard. Interspersed, multi-trunk magnolias turn it into a true visual feast, even after the blooming magnolias period ends. Lush, undulating waves of grass mirror the nearby lake and act as a lateral buffer between the private gardens and the public access path. An expansive lawn with vibrant spring vegetation extends towards the lake. A sinuous belt of grasses snuggles up against the apartments, even as it unobtrusively sets a boundary between the private area and the public lakeside path, all without obstructing the view of the lake or forming a harsh border.

Download pdf  Peninsula – Waterfront Park Living

Zurich, Switzerland/Hamburg, Germany, May 19th, 2011 – Today the foundation stone was laid for the Harvestehuder Weg 36 project by Switzerland-based Peach Property Group AG. At this unique site adjacent to the Outer Alster lake in Hamburg, 63 luxury condominiums in the top price segment are being built in two phases. The first phase at Alsterkamp 43 is scheduled to be complete in spring 2012.

The prominent location at Harvestehuder Weg is the site of the former Blohm Villa, well-known for its legendary porcelain collection, portions of which can be viewed today at the Museum für Kunst und Gewerbe Hamburg. Following the partial destruction of the Blohm Villa during World War II, a contemporary-style development was erected during the sixties. Now a new interpretation of the classic white Alster villa architecture can be found at this exclusive address.

„Our project, which has been integrated with great care and attention to detail into the overall concept of the Alster lake shores, is meant to make the flair and intrinsic quality of its location palpable – not only for the residents, but also for passers-by and visitors of the Outer Alster,“ says Dr. Thomas Wolfensberger, CEO of Peach Property Group AG.  „The response has been gratifying – half of the condominiums in the first phase of construction at Alsterkamp are already sold.“

The premises, divided into two segments at Harvestehuder Weg 36 and Alsterkamp 43, owe their allure to their singular location on the Outer Alster of Hamburg with its traditional historical villas. Allocated among five new villas, 63 apartments are being built, with living spaces ranging from 80 to 280 m². The buildings at Harvestehuder Weg 36 are a new interpretation of the classic white Alster villa, with unadorned lines, large window areas and tiered terraces. The five residences are named after traditional vessel names of the Hapag shipping company in Hamburg – Arcadia, Belgravia, Columbia, Hammonia and Rhaetia.

„The design is authentic, emotional and forward-looking,“ says Jürgen Göttsch, who co-designed the architecture with Jutta Czerner. „The buildings are conceived to create individual urban spaces, which convey a sense of openness and communication.“

The new residents can avail themselves of amenities such as a private fitness and spa area, as well as 145 underground parking spaces with direct elevator access to some of the apartments. Ceilings are 3 meters high, and even higher, at 3.2 meters, on ground floors. Sales prices for the apartments begin at approximately 7’500 Euro/m². Peach Property is expecting the total sales volume to be approximately 85 million Euro at its Harvestehuder Weg 36 estate.

Download pdf Foundation stone is laid down at H-36 in Hamburg

• Dividend of CHF 1.00 for distribution from capital reserves
• Remuneration report accepted
• Dr. Christian De Prati elected to join Board of Directors

Zurich, 6 May 2011 – The ordinary general meeting of Peach Property Group Ltd was held in Zurich today, in the presence of 22 shareholders. A total of 56.8% per cent of the share capital with voting rights was represented.

The shareholders voted, by clear majorities, to accept all motions of the Board of Directors. These included approval of the dividend applied for, amounting to CHF 1.00 for the 2010 financial year. This will be distributed in the form of a capital repayment, which confers tax advantages. The shareholders also accepted the remuneration report, on which a consultative ballot took place.

Further, the annual general meeting elected Dr. Christian De Prati as a new member of the Board of Directors of Peach Property Group Ltd. Dr. De Prati has a successful 15-year track record in investment banking. Dr. Christian Wenger, Peter Bodmer, Christian Kühni and Dr. Thomas Wolfensberger were re-elected for a further one-year term of office.

Download PDF Peach Property Group AGM approves all motions

Zurich, 6 April 2011 – Peach Property Group Ltd, a leading developer of high-quality residential property in German-speaking Europe, has recorded a total operating income of CHF 84.4 million for the 2010 financial year, compared with CHF 28.5 million the previous year. The main factors in the leap in operating income are proceeds from property development in Germany, amounting to CHF 44.9 million, and other operating income of CHF 37.2 million.

Reflecting this much higher operating income, operating profit (EBIT) also increased by 20% in 2010, amounting to CHF 21.3 million (2009: CHF 17.8 million). Despite a negative impact of CHF -2.9 million attributable to the Swiss franc’s appreciation against the euro, Peach Property Group Ltd recorded a net income of CHF 18.0 million in the 2010 financial year: a result level with the previous year and representing a diluted profit of CHF 6.03 per share.

Portfolio value tops 250-million mark
According to independent property appraiser Wüest & Partner, the market value of the portfolio managed by Peach Property Group Ltd stood at CHF 264.5 million at 31 December 2010. Of this, CHF 149.5 million was attributable to projects in Germany, accounting for 56.5% of the total. Projects in Switzerland are valued at CHF 110.2 million (41.7%), while CHF 4.8 million is attributable to projects in Austria (1.8%). The three largest projects are: ‚Harvestehuder Weg 36‘ in Hamburg, with a year-end value of CHF 62.5 million; ‚Peninsula Beach House‘ in Wädenswil, worth CHF 55.1 million; and ‚yoo berlin‘ in Berlin, with a year-end value of CHF 45.5 million.

According to this independent estimate of the development portfolio’s market value, Peach Property Group Ltd’s net asset value (NAV) at the end of 2010 amounted to CHF 146.5 million. Based on IFRS principles, which require valuations of properties at procurement or production cost, the company’s NAV amounts to CHF 112.5 million, up from CHF 34.9 million at the end of 2009.

Sound equity base
The IPO in November 2010 resulted in an inflow of CHF 55.2 million to Peach Property Group Ltd. One use of these proceeds has been to reduce long-term borrowing which, in turn, reduces financial expenses. As of 31 December 2010, shareholders‘ equity rose to CHF 112.5 million (previous year: CHF 34.8 million). As of 31 December 2010, Peach Property Group Ltd has an equity ratio of 53%, or 57% based on market NAV.

Development projects progressing according to plan
Peach Property Group Ltd made excellent progress with its various development projects in the 2010 financial year. In Switzerland, mention should be made of initial sales of the exclusive condominiums at ‚Peninsula Beach House‘, which boast a lakeside position on Lake Zurich in Wädenswil. Total target sales volume for the ‚Peninsula Beach House‘ project amounts to CHF 102 million. At the end of the year, Peach Property Group Ltd was able to complete its first project in Germany on schedule. ‚Living 106‘, in Berlin, comprises 76 apartments and represents a sales volume of CHF 27 million. The riverside ‚Schlossuferresidenz‘ project in Düsseldorf was sold for EUR 18.65 million after obtaining planning permission. In Berlin, the company acquired a majority shareholding in the ‚Am Zirkus 1‘ project.
Target sales volume here is CHF 77 million. The 311-room hotel, with 5,500 square metres of commercial space, is housed in the same building in which Peach Property Group Ltd is completing its ‚yoo berlin‘ project, with 87 residential units. Sales of these apartments are progressing well and, by the end of 2010, had already reached CHF 30 million of the target CHF 104 million sales volume. Another component of the successful expansion in Germany was the ‚Harvestehuder Weg 36‘ project, in Hamburg’s high-class district on the Aussenalster Lake. The first stage of construction commenced in February 2011. The total target sales volume amounts to CHF 106 million.

Dr. Thomas Wolfensberger, CEO of Peach Property Group Ltd, commented, ‚Peach Property Group Ltd passed major milestones in its development projects during 2010. This shows, firstly, that we are positioning our projects appropriately, completing them on schedule, and marketing them successfully. Secondly, it shows that we are now also established in Germany as a leading luxury property developer.‘

Predictable dividend policy
The Board of Directors is proposing to the annual general meeting on 6 May 2011 to distribute a dividend of CHF 1.00 for the 2010 financial year. This corresponds to a dividend yield of 3.2%, as of the year-end. This distribution percentage is in line with the dividend policy of Peach Property Group Ltd, which seeks to pay shareholders a regular, stable dividend distinctly above long-term money market interest rates. The pay-out will be distributed in form of a tax-favourable capital repayment.

Membership changes on the Board of Directors
Directors Dr. Peter Saemann and Norbert Ketterer will not be standing for re-election at Peach Property Group’s annual general meeting on 6 May 2011. The new candidate for election is Dr. Christian de Prati. He has a successful 20-year track record in investment banking and served as Country Head Switzerland at Bank of America Merrill Lynch until January 2011. Dr. Christian Wenger, Peter Bodmer, Christian Kühni and Dr. Thomas Wolfensberger are standing for re-election.

Prospects for 2011
Buoyed by strong economic conditions, the positive demand and price trends in residential property look set to continue through 2011 in both Germany and Switzerland. With its projects well positioned in the top market segment, Peach Property Group Ltd should benefit from these trends. The company expects continued rewarding sales progress at all sites. Peach Property Group Ltd will concentrate on driving its existing projects forward as scheduled during 2011. Parallel to this, it will embark on new projects which, in turn, will further diversify its development portfolio.

• Consolidated net income amounts to CHF 82.1 million
• Annual result: CHF 18.0 million; EBIT: CHF 21.3 million
• Sales successes in Berlin, Hamburg and Wädenswil (Zurich)
• Building begins on Hamburg “Harvestehuder Weg 36” project

Zurich, 8 March 2011 – Listed on the SIX Swiss Exchange since 12 November 2010, Peach Property Group Ltd today released key figures from its annual results for 2010. The provisional figures show that Peach Property Group Ltd expects a post-tax annual result of CHF 18.0 million for 2010. This means Group results have remained positive in the second half of 2010, despite the negative impact of foreign currency exchange. Net income for financial year 2010 stands at CHF 82.1 million. Operating earnings (EBIT) amounted to CHF 21.3 million. At the end of 2010, Group equity stood at CHF 112 million, representing an equity ratio of 53%.

Good sales performance at all sites

Peach Property Group drove sales forward at a high level at all sites. Sales have proved pleasing for the Group’s Berlin projects “yoo berlin” and “Living 106”, and also for “Harvestehuder Weg 36” in Hamburg and “Peninsula Beach House” in Wädenswil, Zurich.

• The proportion sold at the “yoo berlin” project (sales completed or reserved) has risen from 25% at the time of the stock market flotation to 36% today. At “yoo berlin” Peach Property Group, in cooperation with designer Philippe Starck, is building 87 residential units in a unique location on the River Spree, in Berlin Mitte. The development includes penthouses, town houses and suites under the label “yoo inspired by Starck”. Target overall sales volume is EUR 83 million (CHF 108 million).

• The project “Living 106”, featuring 76 exclusive freehold and serviced apartments on Berlin’s centrally located Chausseestrasse was completed on time and within budget. 90% of the apartments have been sold, and the project, whose sales volume exceeded CHF 27 million, is nearing its successful close.

• Sales figures for the “Harvestehuder Weg 36” project, in Hamburg’s high-class district on the Aussenalster, are in line with Peach Property’s successful expansion in Germany. In February, sales of the “Alsterkamp 43” development section passed the 50% mark, allowing building to commence. Target total sales volume is EUR 85 million (CHF 110 million).

• Target sales volume for the Zurich “Peninsula Beach House” project in Wädenswil exceeds CHF 90 million. To date, sales of 12 of the 23 apartments have been reserved or closed. Thus the total proportion sold stands at 52%. A Beach House show apartment opens in mid-March 2011, based on the luxurious penthouse apartments. Thus customers can get a feel for life on the shores of Lake Zurich amid parkland landscaped by Enzo Enea, of Enea GmbH.

Dr. Thomas Wolfensberger, CEO of Peach Property Group Ltd, commented, “We are delighted at the flourishing sales of our unique residential developments. The dedication of our sales teams carries the day, and Peach Property Group Ltd’s expansion in Germany, Austria and Switzerland is forging ahead.”

Peach Property Group Ltd will publish its complete set of annual results on 6 April 2011 and explain them at a conference for analysts and the media.

Download as PDF „Peach Property Group Ltd releases provisional key figures from 2010 annual results“