- Release Date: 18/06/15 14:00
- Summary: GENERAL: PCT: Precinct enters final negotiations with Crown
- Price Sensitive: No
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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
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