Peach Property Group AG
Total vacation of existing buildings at Hamburg luxury residential project marks decisive breakthrough for Peach Property Group Ltd
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
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.