Precinct teams up with global investors to buy more of Wellington

The building called 40 Bowen opened in October. (Image: Precinct)

Tue, 29 Nov 2022

Precinct Properties is partnering with global private investment firm PAG to buy two properties in the heart of the capital’s government district.The partnership will pay $240 million to acquire 40 and 44 Bowen St, which are in a campus of government buildings next to the Beehive and parliament – PAG will have an 80% interest and Precinct will hold a minority interest of 20%, it said in a statement on Tuesday.Precinct recently sold its interest in the neighbouring Charles Fergusson building to a partnership it has with Singapor...

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