Peach Property Group has published its Asset Reporting for the first quarter of 2012. During the period under review, the company’s development projects progressed according to plan: all projects currently under construction are on schedule and have registered what in part are significant gains in sales. The largest portfolio change took place in the investment segment through the acquisition of a high-yield property in Erkrath-Hochdahl near Düsseldorf.
In the first quarter of 2012, progress was made on all construction projects: of particular note are the following milestones:
- Conclusion of general contractor agreement for the second building stage of H36 in Hamburg
- Start of the excavation work for the second building stage of H36 in Hamburg
- Handover of the first unit of A43 in Hamburg
- Commencement of structural work on “yoo Berlin”/Am Zirkus 1
- Start of interior construction at Schooren des Alpes in Kappl/Ischgl
- Initiation of anchoring tests for the upcoming construction start of the Peninsula Beach House project in Wädenswil
In the investment segment, Peach Property Group – through its recent acquisition of residential and commercial units in Erkrath-Hochdahl – now has an investment portfolio that encompasses a total of 519 apartments as well as commercial floor space of close to 15,000 m2, all of which generates annual rental/lease income of roughly CHF 4.6 million. The market value of the investment portfolio has increased to CHF 57.5 million. Consequently, Peach Property Group has taken a further important step in its efforts to maintain a consistent flow of revenues and liquidity.
The full Peach Property Group Asset Reporting document (in German) for the first quarter of 2012 can be accessed via the following link: