Zurich, 19 April 2012 – Peach Property Group AG, a leading developer of high-value residential property in German-speaking Europe, has conducted the ground-breaking ceremony for the Peninsula Beach House in Wädenswil in the presence of representatives of the Wädenswil Town Council, the architects responsible for the project, Buchner Bründler, and invited guests and prospective owners. The ceremony marks the official start of construction of what is the most exclusive residential development currently underway on Lake Zurich.

The 23 condominiums in the Peninsula Beach House will offer their owners a truly rare quality of living, with direct access to the water and breathtaking views along the entire length of Lake Zurich. The saleable floor area amounts to 4745 m2. With floor areas of between 130 and 290 m2, the units nestle harmoniously in a park setting designed by landscape architect Enzo Enea and come with a price tag starting at CHF 2.2 million. The Peninsula Beach House development also comprises a private gym and wellness facility containing a spa, an indoor squash/exercise hall, indoor golf, an aerobics room, a 20 m indoor pool and a relaxation tub. The construction plan foresees occupancy of the units in the spring of 2014.

Peach Property Group CEO Thomas Wolfensberger: “In terms of its location, amenities and sustainable energy concept, the Peninsula Beach House is in many ways a pioneering development. By complying with the Swiss Minergie® standard and exploiting the latent heat of the lake water, both owners and the environment will benefit from the minimal use of non-renewable energy. Commencement of construction on the Peninsula Beach House also marks the beginning of work on the overall project encompassing the Giessen peninsula. This will see Wädenswil benefit from a green, car-free area offering two public spaces, a lakeside path, public access to the lake, a restaurant, a café-bar and a number of retail outlets.”

Heini Hauser, Head of Wädenswil’s Construction Department: “This ground-breaking ceremony heralds a revitalisation of Wädenswil’s peninsula: historically, this has not been accessible by the public, but now it will be. I am confident that Wädenswil will become more attractive as a result and that the public will benefit.”

Implenia Bau AG, Zurich, Switzerland’s leading construction and construction services company, has been entrusted with the excavation work. Financing of the construction work is secured by Peach Property Group AG. Superstructure work is scheduled to commence early in 2013. This is to be undertaken by Alfred Müller AG, Baar, a leading Swiss general contractor, which will begin by laying of floor slabs approximately 95 cm in thickness.

This unique lakeside location requires that a number of special measures be taken. As a result, Implenia will be carrying out specialised and intricate excavation work in a process scheduled to take nine months.

The first two months will be spent vibrating 4400 m2 of sheet-pile walls into the ground. Due to its proximity to a railway line, the section of the excavation pit closest to the railway will be reinforced with a 66 metre long, 16 metre deep overlapping bored pile wall. Reinforcement of the lateral excavation pit will be accomplished using 193 strand anchors bored as much as 23 metres into the soil.

The 3900 m2 wide final section of the horizontal excavation pit will receive a soft gel base approximately one metre in depth at a depth of 13 metres below ground level. This hugely exhaustive and, for Switzerland, entirely new process will alone take close to three months to complete.

Owing to the geological composition of the shoreline, which mainly consists of lake sediment and stream debris, the entire building will stand on 223 pillars featuring diameters of up to 62 cm and an average length of 16 metres. Approximately 28,000 m3 of spoil will need to be hauled away during the excavation phase. That work will be concluded with the pouring of the lean concrete layer.

The Peninsula Beach House is emerging from the remains of Wädenswil’s historically significant Giessen industrial estate, which occupies a 30,000 m2 peninsula on Lake Zurich. Peach Property Group is breathing new life into the site and complementing what, in part, are heritage-protected buildings through the addition of new residential units possessing architectural and aesthetic merit.

The Peninsula Beach House will meet the requirements of the Swiss Minergie® standard and incorporate the latest sustainable energy systems. By employing heat-exchange technologies to exploit the latent heat of the water in Lake Zurich, energy equivalent to one litre of heating oil can be generated from 4 m³ of lake water. Moreover, during the warm summer months, the lake water can be used to cool the building. Energy consumption is kept to a minimum thanks to the installation of a heat-recovery ventilation system and the ingenious design of the building’s envelope.

Press pictures

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Contacts

Investors and analysts:

Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
+41 44 485 50 00
investors@peachproperty.com

Media:

Siro Barino, Barino Consulting
+41 79 335 24 24
info@barino.ch

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. Properties developed by Peach Property Group AG are located on exceptional sites in or near city centres and holiday resorts. Premier amenities meet the requirements of a demanding clientele. The company’s integrated corporate strategy includes not only the development of high-quality residential properties, but also the management of investment properties for the purpose of generating consistent annual revenues.

Peach Property Group AG is headquartered in Zurich and also has a branch office in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366).

Visit www.peachproperty.com for more information.

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