PCT
13/02/2015 11:58
GENERAL
PRICE SENSITIVE
REL: 1158 HRS Precinct Properties New Zealand Limited
GENERAL: PCT: Downtown Development Agreement progress update
The potential sale of Queen Elizabeth Square was approved by Auckland
Council's Development Committee on 11 September 2014. The Development
Committee met yesterday and received a report from Council officers relating
to the tenure and area of the potential sale of Queen Elizabeth Square to
Precinct.
The report from Council officers noted that the sale of Queen Elizabeth
Square is being progressed on the basis of a freehold interest and the
boundary of the land which may be the subject of sale should align with
Zurich House, 21 Queen Street.
As part of that meeting, councillors were advised that the Development
Agreement with Precinct in relation to the construction of the City Rail Link
tunnels through the Downtown site is expected to be concluded in the near
term. Precinct confirms that negotiations are advanced and looks forward to
concluding agreement shortly.
-ends-
For further information, 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 17 New Zealand buildings - Auckland's PwC Tower, SAP 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, 80 The Terrace , Deloitte House and Bowen Campus.
End CA:00260624 For:PCT Type:GENERAL Time:2015-02-13 11:58:39
