- First-class anchor tenant renting six floors in the emerging prestige building on the Spree
- Rental agreement term of seven years with option to renew for further five years
- Letting success is evidence of expertise by Peach Deutschland and Deutsche Immobilien in the letting of large areas
- Overall project with unique character features exceptional architecture and prestigious location
Zurich, 18 October 2012 – Peach Property Group AG, a leading developer of top-quality residential property in the German-speaking region of Europe, has achieved an important rental success in Germany by securing a globally leading consulting company as its new anchor tenant for the „Am Zirkus 1“ building in Berlin. The consulting company is renting a total of 2.586 m2 of commercial space in the emerging prestige property, distributed across floors four to nine. The rental agreement has been concluded for a term of seven years, with an option by the tenant to extend the tenancy for a further five years.
Unique building in a prestigious location
„Am Zirkus 1“ forms part of the twin „yoo berlin/Am Zirkus 1“ project, which Peach Property Group AG is realising in Berlin-Mitte at a historical location near the Berliner Ensemble on the banks of the Spree. Marking yet another milestone for this project, this rental agreement follows a 20-year lease agreement for the hotel area. As a result, „Am Zirkus 1“ is now almost fully let. Deutsche Immobilien AG holds a minority stake in „Am Zirkus 1“.
In the adjoining section of the building, Peach Property Group AG, under the name „yoo berlin“, is realising 95 top-quality residential apartments designed by star designer Philippe Starck. More than 75% of the apartments have already been either notarised or reserved. „yoo berlin/Am Zirkus 1“ is scheduled for completion in the first half of 2013.
Bernd Hasse, Managing Director of Peach Property Group (Deutschland): „Our success in securing a first-class anchor tenant for our „Am Zirkus 1″ development speaks volumes for the strategic market approach we adopt when it comes to letting large areas. The reputation of a world-leading strategy consultancy and the unique character of our new building in the prestigious location create a perfect fit.“
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. 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 revenues.
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). At the beginning of October Peach Property Group AG announced its intention to float its subsidiary, Peach Property Group (Deutschland) AG, on the Prime Standard of the Frankfurt Stock Exchange during the 4th quarter 2012.
Visit www.peachproperty.com for more information.