Peach Property Group Ltd: foundation stone laid for second construction phase at Harvestehuder Weg 36, Hamburg

Foundation stone laid for second construction phase at Harvestehuder Weg 36, Hamburg: Peach Property Group development moves to superstructure

Zurich, Switzerland/Hamburg, Germany, 10 May 2012 - Immediately after completing the apartments comprising the first construction phase at Harvestehuder Weg 36, the foundation stone is being laid today for the residences of the second construction phase. Swiss developer Peach Property Group is building 57 exclusive private apartments at a unique location on the shores of Hamburg's Outer Alster Lake. The five residences are scheduled for completion in the summer of 2013. Prospective purchasers are already able to visit the new show apartment to admire for themselves the style and quality they can expect from this exceptional development.

Consisting of two developments at Harvestehuder Weg 36 and Alsterkamp 43, the site offers an incomparable setting on the Outer Alster in a traditional Hamburg villa neighbourhood. Distributed amongst five newly erected residences are 57 apartments with floor areas ranging between 65 and 320 m². The buildings at Harvestehuder Weg 36 are a new interpretation of the classic white Alster villa, with its clear lines, generously proportioned glazing and staggered terraces.

'We are delighted to be drawing such a positive response with our development here in Hamburg,' says Bernd Hasse, Managing Director of Peach Property Group (Deutschland) GmbH: 'Having completed the residences on Alsterkamp so quickly, we are starting work on the superstructure at Harvestehuder Weg with the second phase of the development, and planning to hand over the keys to the new owners of all the apartments as early as 2013.'

The on-site amenities for residents will include a gym and spa facility, as well as 121 underground parking spaces, some with direct lift access to the apartments. Ceiling heights are a generous 3 metres, rising to 3.20 metres on the ground and staggered storeys. Two tower rooms even offer 4 metres of headroom. The apartments are on the market at prices starting at around 7400 Euro/m². Peach Property is envisaging the sales volume at Harvestehuder Weg 36 to amount to EUR 88 million.

According to an independent study, Peach Property Group is the second-largest developer of luxury dwellings in Germany. The Group recently laid the foundation stone for its yoo berlin development, a luxury development of apartments occupying a unique location on the banks of the River Spree in the centre of Berlin. The development, a Peach Property Group venture involving input from designer Philippe Starck, consists of 95 private apartments including penthouses, town houses and suites. All 76 premier apartments in Peach Property's Living 106 development, an ensemble of buildings not far from the new BND development on Berlin's Chausseestrasse, found buyers on completion. The Group also has a presence in Austria with its Schooren des Alpes development: located in the Tyrol, Kappl bei Ischgl is one of the Alps' top winter sports destinations - this is where 12 luxury dwellings are currently being built offering floor areas of between 133 m² and 246 m². The Group's biggest development at this moment in time is Peninsula, a 30,000 m² site on the shores of Lake Zurich in Switzerland. The first foundation stone for the exclusive Peninsula Beach House was laid recently.

For more information please visit:
Harvestehuder Weg 36 www.harvestehuderweg36.de

Press contact for Harvestehuder Weg 36:
Koopmann.kommunikation | Hans Peter Koopmann
Telephone +49 171-45 77 889 | post@koopmannkommunikation.de

Press contact for Peach Property Group AG:
Barino Consulting | Siro Barino
Telephone +41 79 335 24 24 | info@barino.ch

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

Austria:
Schooren des Alpes www.elevated-living.at

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.peachestates.com for more information.