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Ann: GENERAL: KPG: Russell McVeagh renews lease at Vero Centre

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    • Release Date: 27/11/15 08:32
    • Summary: GENERAL: KPG: Russell McVeagh renews lease at Vero Centre
    • Price Sensitive: No
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    					KPG
    27/11/2015 08:31
    GENERAL
    NOT PRICE SENSITIVE
    REL: 0831 HRS Kiwi Property Group Limited
    
    GENERAL: KPG: Russell McVeagh renews lease at Vero Centre
    
    Kiwi Property is pleased to announce that it has secured a new 12-year lease
    agreement with pre-eminent law firm Russell McVeagh for 4,004 sqm of space in
    its flagship office asset, the Vero Centre in Auckland.
    
    The new lease comprises four levels of high rise space, representing
    approximately 10% of the building's rentable area.  The lease has a
    commencement date in late 2016 and includes storage and associated car
    parking spaces in addition to the office areas.
    
    Kiwi Property Chief Executive, Chris Gudgeon, said: "Russell McVeagh was an
    anchor tenant in the original development of the building and has made a
    significant contribution to the Vero Centre's business community since its
    opening in 2001.  The retention of Russell McVeagh is a testament to the
    quality of the Vero Centre."
    
    As part of the lease agreement, Russell McVeagh has engaged design leaders,
    Warren and Mahoney, to consult with the partnership and staff on creating a
    leading edge and collaborative workspace.
    
    Russell McVeagh will release approximately 2,200 sqm of space progressively
    during 2016.  As a result of the new lease agreement, the weighted average
    lease term to expiry for the Vero Centre will increase by 0.7 years.
    
    Russell McVeagh CEO, Gary McDiarmid, said: "The partnership unanimously
    agreed that the Vero Centre has been part of the Russell McVeagh brand for
    such a long time it was an easy decision to make to renew our lease.  We are
    excited about creating a new workplace that all our staff and clients can be
    proud of."
    
    > Ends
    
    Contact us for further information
    
    Chris Gudgeon
    Chief Executive
    [email protected]
    +64 9 359 4011
    mobile +64 21 855 907
    
    Gavin Parker
    Chief Operating Officer
    [email protected]
    +64 9 359 4012
    mobile +64 21 777 055
    
    Mathew Chandler
    Investor Relations and Communications Manager
    [email protected]
    +61 458 110 042
    direct +61 2 4377 1590
    
    Stuart Tabuteau
    Chief Financial Officer
    [email protected]
    +64 9 359 4025
    mobile +64 21 912 247
    
    About us
    Kiwi Property (NZX: KPG) is the largest listed property company on the New
    Zealand Stock Exchange and is a member of the NZX15 Index.  We've been around
    for more than 20 years and we proudly own and manage a $2.39 billion
    portfolio of real estate, comprising some of New Zealand's best shopping
    centres and prime office buildings.  Our objective is to provide investors
    with a reliable investment in New Zealand property by targeting superior
    risk-adjusted returns over time through the ownership and active management
    of a diversified, high-quality portfolio.  To find out more, visit our
    website kp.co.nz
    End CA:00274189 For:KPG    Type:GENERAL    Time:2015-11-27 08:32:01
    				
 
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