- Shell construction along the Spree in Berlin-Mitte close to completion
- More than 75 per cent of the units already sold or reserved
- Hotel portion leased for 20 years; commercial floor space almost fully rented
- Occupancy as of mid-2013
- Cash flow of roughly CHF 30 million (EUR 25 million) expected
Zurich/Berlin, 22 November 2012 – Peach Property Group AG, a leading developer of top-quality residential properties in the German-speaking region of Europe, today is holding the topping-out ceremony for its luxury “yoo berlin” residential complex as well as for its “Am Zirkus 1” parallel project. Both projects constitute a ten-storey freestanding building situated along the Spree river in Berlin-Mitte and encompass a gross floor space of 33,000 m2. The traditional topping-out ceremony will be accompanied by Dr. Christian Hanke, district mayor of Berlin-Mitte, Eike Becker, the architect in charge of the projects, and Bernd Hasse, CEO of Peach Property Group (Deutschland) AG.
Sales ahead of schedule
More than 75 per cent of the 95 “yoo berlin” condominiums have already been notarized or reserved, thereby putting the sales effort ahead of schedule. In the “Am Zirkus 1” parallel project, a hotel with 311 rooms is under construction and will be leased for 20 years under a contract with the Fattal Group. The complex also contains more than 4,600 m2 of commercial floor space, most of which has already been rented. Occupancy will commence as of mid-2013. For the coming two years, Peach Property Group expects that both projects will generate a total cash flow of roughly CHF 30 million (EUR 25 million).
“yoo berlin” – “Best Apartment Europe”
“yoo berlin“ recently received in London several European Property Awards, amongst them the “Best Apartment Europe” citation, which for the first time ever was awarded to Germany. For the residential units, six different living concepts and four furnishing lines are available to choose from – each conceived by “yoo inspired by Starck” under the creative direction of the internationally renowned designer, Philippe Starck.
The condominiums range in floor space size from 60 m2 to 283 m2. “yoo berlin” offers its future residents exclusive amenities such as a stylish lobby with concierge service as well as a private wellness and spa facility with bar and café. Its sharply defined lines and large window surface areas give the building an airy and transparent touch. An authentic impression – including a rooftop terrace view of the Spree, Museumsinsel, Friedrichstrasse and the building site – can be gained by visitors to the stylishly furnished, 350 m2-large showroom.
“Am Zirkus 1” – Leonardo Hotel and anchor tenants for commercial floor space
In the “Am Zirkus 1” complex, the Fattal Group will operate under leasehold a boutique hotel under the label “Leonardo”. As to the commercial area, Peach Property Group recently announced that a globally leading consulting company will become an anchor tenant and occupy approximately 2,600 m2 of office space. Deutsche Immobilien AG holds a 20 per cent interest in the “Am Zirkus 1” parallel project.
Development, marketing and brand competence
Bernd Hasse, CEO of Peach Property Group (Deutschland) AG, commented: “We are on the home stretch with our ‘yoo berlin’/‘Am Zirkus 1‘ projects, not least of all thanks to our successful sales platform. These undertakings underscore Peach Property Group’s competence in the development and marketing of exclusive real estate projects. We want to widen our lead even further in this segment. As a brand innovator, our goal is to position our properties in a unique way in both the luxury real estate and high-quality conversion segments of the market. That is achievable not only as a result of strong brands such as ‘yoo inspired by Starck’, but also by means of effective marketing campaigns. Our customers experience at ‘yoo berlin’ an inspiring lifestyle that extends beyond mere living.”
Further Peach Property Group projects either in the planning phase or under construction are situated in Hamburg (Harvestehuder Weg 36, H36), Berlin (Chausseestrasse) and Dortmund (Rheinische Strasse), as well as in Wädenswil near Zurich (Peninsula), Wollerau (Candy Factory) and Kappl bei Ischgl (Schooren des Alpes).
Further information www.yooberlin.com
Investors and analysts:
Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
+41 44 485 50 00, firstname.lastname@example.org
Koopmann.kommunikation | Hans Peter Koopmann
+49 (0)171 45 77 889 | email@example.com
About Peach Property Group
Peach Property Group AG is a leading developer in the field of top-quality residential property in the German-speaking region of Europe. Its activities cover the entire prime property development value chain, from site evaluation to project planning, implementation and marketing. Peach Property Group focuses on city and holiday residences in exceptional locations and featuring highest-quality fittings for a discerning clientele. The company’s integrated corporate strategy encompasses not only the development of high-quality residential properties, but also the management of investment properties for the purpose of generating consistent annual operating income.
Peach Property Group AG is headquartered in Zurich and also has a branch office in Cologne. The Group’s current projects account for a total target marketing volume of approximately CHF 800 million. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366).
Visit www.peachproperty.com for further information.