1) With a box grater, grate the peaches into a jug. Add the sugar and water to the peaches and place the jug in the refrigerator until chilled and the sugar has dissolved, or until needed.
2) When ready to serve, pour the caster sugar onto a plate and invert a chilled Champagne glass into the sugar to coat the rim. Pour about 1/8th of the peach mixture into the prepared glass and top off with Prosecco. Stir gently and serve.
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