Ann: GENERAL: FBU: Fletcher Construction to build in Auckland Wynyard Quarter

• Release Date: 27/03/15 09:49
• Summary: GENERAL: FBU: Fletcher Construction to build in Auckland Wynyard Quarter
• Price Sensitive: No
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					FBU
27/03/2015 09:49
GENERAL
NOT PRICE SENSITIVE
REL: 0949 HRS Fletcher Building Limited

GENERAL: FBU: Fletcher Construction to build in Auckland Wynyard Quarter

Fletcher Construction to build new office complex in Auckland's Wynyard
Quarter

Auckland, 27 March 2015 - Fletcher Building Limited announces that its
subsidiary, Fletcher Construction, has entered into a conditional agreement
to construct a new office building in Auckland's Wynyard Quarter.  The
building will comprise one level of retail space and six levels of office
space along with 152 car parks, and has been substantially leased to IT
service provider Datacom. The property is designed to a five star green star
certified rating standard.

Wynyard Precinct Holdings, the joint venture between Goodman Property Trust
and Singapore's sovereign wealth fund GIC, has conditionally agreed to
purchase the property on completion of construction from Fletcher Building in
March 2017, for NZ$86.2m.

Goodman Property Trust will also finance the construction of the building by
way of a funding arrangement with Fletcher Building. This funding will be
repaid on settlement of the completed building.

ENDS
End CA:00262361 For:FBU    Type:GENERAL    Time:2015-03-27 09:49:33