Press release
Peach Property Group AG celebrates topping-out ceremony for residential project Living 108 in Berlin's Mitte district
- Build progressing according to plan; construction of 128 high-quality owner-occupied flats, spacious penthouses and urban apartments not far from new BND building enters its final phase
- Sales volumes of EUR 36 million (CHF 44 million) expected, of which 85% already notarised
- Completion projected for spring 2015
Berlin/Zurich, 4 September 2014 - Peach Property Group AG, a leading property investor and developer of high-end residential and commercial real estate, today celebrated the topping-out ceremony for its residential project Living 108 on Chausseestraße, in Berlin's Mitte district. Construction is proceeding quickly and according to plan. At the same time, Peach Property Group AG has also been successful in marketing the exclusive, owner-occupied flats, reporting high demand: More than 85 percent of the expected sales volume of EUR 36 million (CHF 44 million) has already been notarised.
Living 108, a continuation of the completed neighbouring project Living 106, is being built in immediate proximity to the new Federal Intelligence Service (Bundesnachrichtendienst - BND) building. This is Peach Property Group's fourth Berlin project. The apartments are expected to be handed over to their new owners in spring 2015. Living 108 is a collection of 128 high-quality, owner-occupied flats and three commercial units with a total saleable area of 7,569 m². Potsdam-based agency Axthelm Architekten is responsible for the design.
"The consistently high level of buyer interest since the project launch and the quick progression of the build have turned Living 108 into a huge success for us," stresses Bernd Hasse, Managing Director of Peach Property Group (Deutschland) AG, "and it shows, as with our neighbouring project Living 106, how positively our Living concept for modern, quality city apartments is being received. We are also planning on developing further Living projects in the future." As it stands, only 12 apartments are left for sale. Apart from owner-occupied apartments and penthouses with roof terraces, there is a strong demand for urban living suites - a popular investment choice for private investors.
The Living 108 apartments have two to four rooms and surface areas of between 38m2 and 121m2. Prices for apartments still currently on the market range from EUR 269,500 to EUR 749,500. Residents will have access to their own community space with fitness area, a common roof terrace with a panoramic view of Berlin, and underground parking with spaces for 54 vehicles.
The traditional topping-out ceremony was accompanied by words of welcome from architect Annette Axthelm, Marko Lehmann (Technical Branch Manager of General Contractor Porr Deutschland GmbH) and Bernd Hasse, and was attended by numerous buyers in addition to those involved in the build.
Further information
www.livingsuites.de
Images
http://www.peachproperty.com/wp-content/uploads/2013/07/Living108_Fassade.jpg
http://www.peachproperty.com/wp-content/uploads/2013/07/Living108_Innenhof.jpg
http://www.peachproperty.com/wp-content/uploads/2013/07/Living108_Penthouse.jpg
http://www.peachproperty.com/wp-content/uploads/2013/07/Living108_Fitnessraum.jpg
Contacts:
Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer
Dr. Marcel Kucher, Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com
Media Germany
Koopmann.kommunikation | Hans Peter Koopmann
+49 (0)171 45 77 889 | post@koopmannkommunikation.de
About Peach Property Group AG
Peach Property Group AG is a property investor and developer focused on investments in Switzerland and Germany. The portfolio includes an increasing number of investment properties that are designed to generate sustained income as well as attractive residential development properties. The Group's activities cover the entire value chain, from site evaluation to project planning, implementation and marketing. In the investment segment, the Group is focused on properties with a potential for achieving attractive yields based on active asset management - typically secondary locations in the catchment area of urban agglomerations. In the development segment, the Group concentrates on exceptional locations and properties with high-end specifications and amenities that meet the requirements of a demanding clientele.
Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).
For more information, see www.peachproperty.com
