Total vacation of existing buildings at Hamburg luxury residential

Total vacation of existing buildings at Hamburg luxury residential project marks decisive breakthrough for Peach Property Group Ltd, and secures Engel & Völkers and Meissler & Co. to sell luxury project residences Zurich, Switzerland/Hamburg, Germany, 19 November 2010 – Peach Property Group Ltd, one of the leading developers of luxury residential property in German‐speaking Europe, has taken a decisive step forward on its project at Harvestehuder Weg 36, Hamburg. The existing buildings have now been vacated, allowing a total of 63 luxurious freehold apartments in the upper price segment to rise, in two construction stages, at this unique site on the banks of Hamburg’s Aussenalster Lake. Well‐known Hamburg estate agents Engel & Völkers and Meissler & Co. have been enlisted as sales partners. Both firms are leaders in brokering high‐value property sales. Already, 13 of the luxury apartments have been sold at the pre‐sale stage, now closed. The project is scheduled for completion by spring 2012. “This marks a significant step forward for our bijou property on the Aussenalster,” notes Rahman Rahmanzadeh, Chief Construction Officer (CCO) at Peach Property Group Ltd. “We had to recoup a long delay caused by failure to vacate the existing building. We have now reached amicable solutions everywhere on this site.” The venue comprises two projects: Harvestehuder Weg 36 and Alsterkamp 43. The position on the Aussenalster Lake is simply incomparable in this traditional Hamburg villa district. Spread across five newly constructed villas, a total of 63 apartments will range in size from 80 to 280 m2. Amenities include gym and spa, plus underground parking for 145 cars, to which some apartments will have direct access. The architecture of Harvestehuder Weg 36 reinterprets the classic white Alster villa, and features unadorned lines, generous window space and graduated terraces. The five villas are named after traditional ships of Hamburg’s Hapag shipping line: Arcadia, Belgravia, Columbia, Hammonia and Rhaetia. Selling prices for the apartments start at around EUR 7600/m2. Dr. Thomas Wolfensberger, CEO of Peach Property Group, commented, “Our commitment to Hamburg’s Harvestehuder Weg follows on logically from our corporate strategy of investing only in premier locations with strong development potential. As one of Germany’s truly international cities, Hamburg ideally fits that strategy. And we are delighted to have found Engel & Völkers and Meissler & Co., the best possible partners to drive this project forward successfully with us.” News of the project at Harvestehuder Weg 36/Alsterkamp 43 in Hamburg follows hot on the heels of “Schooren des Alpes”, the Peach project in Kappl, Austria, where the foundation stone was laid in October 2010. It also comes just one month after the turf was cut for “yoo inspired by Starck”, a luxury complex of 87 dwelling units on the banks of the Spree in Berlin Mitte. An independent study in September singled the company out as Germany’s second‐
biggest developer of luxury properties. The Group’s largest project at present is the “Peninsula”, a 30,000‐m2 site on the shore of Lake Zurich. Links for further information Harvestehuder Weg 36 www.harvestehuderweg36.de Peach Property Group Ltd www.peachestates.com Other Peach projects Switzerland: Peninsula www.waedenswil‐peninsula.ch Peninsula Beach House www.beach‐house.ch Germany: yoo inspired by Starck, Berlin www.yooberlin.com Living 106, Berlin www.living‐106.com Austria: Schooren des Alpes www.elevated‐living.at Peach Property Group AG press contact: Barino Consulting | Siro Barino Tel.: +41 79 335 24 24 | [email protected] Press contact for Austria and Germany: markengold PR GmbH | Team Peach Property Tel.: +49 30 421 91 59‐60 | [email protected] Information on Peach Property Group Ltd www.peachestates.com Peach Property Group Ltd is a Swiss real estate company with headquarters in Zurich and one of the leading developers of luxury residential property in the German‐ speaking part of Europe. Its innovative business model along the entire real estate value chain integrates real estate investment, development and construction management. Net profit in 2009 and the first half of 2010 amounted to CHF 18.2 million and CHF 16.6 million, respectively. Properties developed by Peach Property Group Ltd are located in or nearby city centres and in some of Europe’s finest holiday resorts. Peach Property Group Ltd currently employs some 34 highly qualified real estate and finance specialists. Peach Property Group Ltd’s largest projects are “Peninsula”, a property with roughly 30,000 m2 directly on Lake Zurich, Switzerland, and “yoo berlin” with 87 luxury apartments located directly on the river Spree. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION ON OR INTO THE UNITED STATES. THIS PRESS RELEASE CONSTITUTES NEITHER AN OFFER TO SELL NOR A SOLICITATION TO BUY ANY SECURITIES AND IT DOES NOT CONSTITUTE A PROSPECTUS WITHIN THE MEANING OF ARTICLE 652a OF THE SWISS CODE OF OBLIGATIONS OR A LISTING PROSPECTUS WITHIN THE MEANING OF THE LISTING RULES OF SIX SWISS EXCHANGE. INVESTORS SHOULD TAKE THEIR INVESTMENT DECISION TO BUY OR SUBSCRIBE TO SECURITIES SOLELY ON THE BASIS OF A PROSPECTUS. THE OFFER OF SECURITIES OF PEACH PROPERTY GROUP AG IS BEING MADE SOLELY BY MEANS, AND ON THE BASIS OF, THE PUBLISHED PROSPECTUS AND THE SUPPLEMENT THERETO, BOTH OF WHICH ARE HELD AVAILABLE FREE OF CHARGE AT BANK AM BELLEVUE AG, SEESTRASSE 16, CH‐8700 KUSNACHT, SWITZERLAND (FACSIMILE +41 44 267 67 35, E‐MAIL: [email protected]). THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND MUST NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN THE UNITED STATES. THE SECURITIES OF PEACH PROPERTY GROUP AG HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT FROM REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS. PEACH PROPERTY GROUP AG DOES NOT INTEND TO REGISTER ANY PART OF THE OFFERING IN THE UNITED STATES. INVESTORS ARE FURTHERMORE ADVISED TO CONSULT THEIR BANK OR FINANCIAL ADVISOR. Diese Pressemitteilung stellt weder ein Angebot zum Verkauf noch eine Aufforderung zum Kauf von Wertpapieren dar. Diese Pressemitteilung gilt nicht als Emissionsprospekt im Sinne von Art. 652a OR oder als Kotierungsprospekt im Sinne des Kotierungsreglements der SIX Swiss Exchange. Entscheide zum Kauf oder zur Zeichnung neuer Aktien sollten ausschliesslich aufgrund des Emissions‐ und Kotierungsprospekts erfolgen. Das Angebot von Wertpapieren der Peach Property Group AG erfolgt ausschliesslich durch und auf der Basis des veröffentlichten Prospekts und des Zusatzes zum Prospekt, die bei der Bank am Bellevue AG, Seestrasse 16, CH‐8700 Küsnacht (Fax: +41 44 267 67 35, E‐Mail: [email protected]) zur kostenlosen Ausgabe bereitgehalten werden. Diese Pressemitteilung sowie die darin enthaltenen Informationen sind nicht zur Weitergabe in die Vereinigten Staaten von Amerika (USA) bzw. innerhalb der USA bestimmt und dürfen weder an US‐amerikanische Personen (einschliesslich juristischer Personen) noch an Publikationen mit einer allgemeinen Verbreitung in den USA verteilt oder weitergeleitet werden. Diese Pressemitteilung ist kein Angebot bzw. keine Aufforderung zum Kauf von Wertpapieren in den USA. Die Wertpapiere der Peach Property Group AG wurden nicht gemäss den Vorschriften der US‐amerikanischen Wertpapiergesetze registriert und dürfen ohne eine vorherige Registrierung bzw. ohne das Vorliegen einer Ausnahmeregelung von der Registrierungsverpflichtung nicht in den USA oder an US‐amerikanische Personen verkauft, zum Kauf angeboten oder geliefert werden. Peach Property Group AG beabsichtigt nicht, das Angebot in den USA zu registrieren. This publication contains specific forward‐looking statements, for example statements including terms like “believe”, “assume”, “expect” or similar expressions. Such forward‐looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Peach Property Group AG and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not rely on forward‐looking statements. Peach Property Group AG assumes no responsibility to update forward‐looking statements or to adapt them to future events or developments. Diese Publikation enthält bestimmte in die Zukunft gerichtete Aussagen, zum Beispiel Angaben unter Verwendung der Worte „glaubt“, „geht davon aus“, „erwartet" oder Formulierungen ähnlicher Art. Solche in die Zukunft gerichteten Aussagen unterliegen bekannten und unbekannten Risiken, Ungewissheiten und anderen Faktoren, die dazu führen können, dass die tatsächlichen Ergebnisse, die Finanzlage, die Entwicklung oder die Performance der Peach Property Group AG wesentlich von denjenigen abweichen, die in diesen Aussagen ausdrücklich oder implizit angenommen werden. Vor dem Hintergrund dieser Ungewissheiten darf man sich nicht auf solche in die Zukunft gerichteten Aussagen verlassen. Die Peach Property Group AG übernimmt keinerlei Verpflichtung, solche zukunftsgerichteten Aussagen fortzuschreiben oder an zukünftige Ereignisse oder Entwicklungen anzupassen.