Precinct announces settlement of Investment Partnership

Further to the announcement made on 15 September 2022, Precinct Properties New Zealand Limited (NZX: PCT) (Precinct) is pleased to confirm that the sale of three of the initial portfolio properties to Precinct Pacific Investment Limited Partnership (PPILP) has now settled.

The properties that settled today comprise of Mayfair House, 10 Madden Street and 12 Madden Street. Precinct will continue to manage the properties under the terms of an investment management agreement and has a 24.9% ownership interest in the Limited Partnership.

The settlement of Charles Fergusson Building will follow once new titles have been issued.

Ends

For further information, please contact:

George Crawford
Deputy Chief Executive Officer
Mobile: +64 21 384 014
Email: [email protected]

Richard Hilder
Chief Financial Officer
Mobile: +64 29 969 4770
Email: [email protected]

About Precinct (PCT)

Precinct is New Zealand’s only listed city centre specialist investing predominantly in premium and A-grade commercial office property. Listed on the NZX Main Board, PCT’s portfolio includes Auckland’s HSBC Tower, AON Centre, Jarden House, Deloitte Centre, 204 Quay Street, Mason Bros. Building, 12 Madden Street, 10 Madden Street, PwC Tower and Commercial Bay Retail; and Wellington’s AON Centre, NTT Tower, Central on Midland Park, No. 1 and No. 3 The Terrace, Mayfair House, Charles Fergusson Building, Defence House, Bowen House, Freyberg Building and 30 Waring Taylor Street. Precinct owns Generator NZ, New Zealand’s premier flexible office space provider. Generator currently offers 15,770 square metres of space across nine locations in Auckland and Wellington.

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Announcement PDF