Within less than a year the Living 106 residential building project will be completed in central Berlin.

Berlin, 24 September 2009 – The Peach Property Group AG based in Zurich has successfully entered the German market and is now celebrating its first topping-out ceremony in Chausseestrasse in Berlin, close to the new headquarters of the German Intelligence Service (BND). By mid-2010 the 5,300 m² of the “Living 106” project will accommodate a total of 76 apartments and a commercial unit.

The foundation stone for the development project consisting of two existing buildings and two new ones was laid last year by Vivacon AG, the former owners. The Peach Property Group AG acquired Living 106 in July, and meanwhile it also has another project under development in Berlin as well as ones in Hamburg and Düsseldorf.

Dr. Thomas Wolfensberger, CEO of the property developers is pleased that the construction work in Chausseestrasse could be continued without interruption after the change in ownership. “A lot of people are interested in the new flats and apartments, and 60 percent of these have already been sold.”

In addition to 22 condominium apartments and lofts at Chausseestrasse 106, there are also plans for 54 serviced apartments with up to 66 m² floor space. These are modern furnished apartments which offer the tenants additional all-round services such as room cleaning, concierge, and shopping and delivery. In addition, all residents have access to the in-house day-spa with sauna and fitness area as well as an underground garage.

Dr. Thomas Wolfensberger:

“If you consider how many people work in the Mitte district of Berlin and how few top-quality flats there are in comparison, then it seems high-time for housing projects like that of Peach – particularly in the area around Chausseestrasse”.

In the direct vicinity of Living 106, work is currently in progress on constructing the new Berlin headquarters of the German Intelligence Service (BND). Companies from the creative sectors are also increasingly interested in this location. The considerable number of jobs relocated to the area means that the demand for apartments there will continue to grow according to Wolfensberger.

Peach Property Group in Germany
The Peach Property Group AG is one of the leading developers of luxury residential property in Europe. Following on from the acquisition in July of two top-class real-estate projects in Berlin-Mitte and in Düsseldorf it has just acquired two further exclusive real-estate projects: “Hamburg – Harvestehuder Weg 36” and “Yoo Berlin – am Zirkus” with a total marketable volume of some EUR 166 million. The total volume of all the real-estate projects of the Peach Property Group in Germany is currently about EUR 251 million.

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