PCT
18/06/2015 14:00
GENERAL
PRICE SENSITIVE
REL: 1400 HRS Precinct Properties New Zealand Limited
GENERAL: PCT: Precinct enters final negotiations with Crown
Precinct Properties New Zealand (NZX: PCT) announced today that it has been
advised, through the Property Management Centre of Expertise (PMCOE), on
behalf of the Crown, that the following properties have been approved by
Cabinet to enter the negotiation phase of the Governments Wellington
Accommodation Project:
o Bowen Campus, which is made up of the Bowen State and Charles Fergusson
buildings
o Pastoral House
o Mayfair House
o 3 The Terrace
Scott Pritchard, Precinct's Chief Executive, said, "We have been working with
PMCOE for almost 2 years and it is very pleasing to have reached the final
phase."
PMCOE has advised that 1 The Terrace remains under consideration for
accommodation requirements. The current lease to the Treasury expires in
June 2017.
Final approval remains subject to the PMCoE being satisfied that the Crown's
commercial and legal requirements are met to a satisfactory level throughout
the negotiation process, and final Cabinet approval in relation to the
commercial terms and legal documentation.
-end-
For further information, please contact:
Scott Pritchard
Chief Executive Officer
Office: +64 9 927 1640
Mobile: +64 21 431 581
Email: [email protected]
George Crawford
Chief Financial Officer
Office: +64 9 927 1641
Mobile: +64 21 384 014
Email: [email protected]
About Precinct (PCT)
Precinct is New Zealand's only specialist listed investor in premium and
A-grade commercial office property. Listed on the NZX Main Board, PCT
currently owns 15 New Zealand buildings - Auckland's PwC Tower, AMP Centre,
ANZ Centre, Zurich House, HSBC House and Downtown Shopping Centre; and
Wellington's State Insurance Building, Vodafone on the Quay, 171 Featherston
Street, 125 The Terrace, No. 1 and No. 3 The Terrace, Pastoral House, Mayfair
House, Deloitte House and Bowen Campus.
End CA:00265884 For:PCT Type:GENERAL Time:2015-06-18 14:00:58
