Precinct Properties portfolio value increases on Auckland buildings

Wed, 09 Jul 2014

By Suze Metherell July. 9 (BusinessDesk) - Precinct Properties New Zealand, the country's third-biggest listed property investor by market value, expects to recognise a 5.5 percent gain in its portfolio's value as Auckland real estate prices continue to climb. A revaluation gain in its property portfolio of some $47 million is expected in the year ended June 30, boosting its portfolio to $1.73 billion, from $1.64 billion the previous year, the Auckland-based landlord said in a statement. Auckland valuations have climbed 5.9 percent while...

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