Property

Precinct properties revalued at more than $3.3b

Brent Melville
Thu, 10 Jun 2021

Commercial Bay turns one today
Brent Melville
Thu, 10 Jun 2021
Listed property group Precinct Properties is celebrating the one year anniversary of its retail and office flagship, Commercial Bay, by booking a revaluation gain of $284 million, a 9.4% increase in book value, across its 15-building portfolio.The valuation, which included a $148.5m gain during the six months ended Dec 31, sees Precinct's overall portfolio across the Auckland and Wellington CBDs, increase to about $3.3 billion at June 30. That reflects a second half revaluation gain of $135.5m, pushing net asset value up 7%, or 10 cent...

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