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- Release Date: 01/03/13 16:25
- Summary: GENERAL: PCT: Precinct to spend $3m on seismic improvements at SAP Tower
- Price Sensitive: No
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PCT
01/03/2013 14:25
GENERAL
REL: 1425 HRS Precinct Properties New Zealand Limited
GENERAL: PCT: Precinct to spend $3m on seismic improvements at SAP Tower
Precinct announced today that it will undertake seismic improvement works at
the SAP Tower in Auckland to bring it up to a high level of seismic
performance.
Scott Pritchard, Precinct's CEO, said, "We decided to undertake this work
following a comprehensive 3D computer-modelled seismic assessment from
structural engineers, Holmes Consulting Group, who scored the building at 35%
NBS (New Building Standard)."
The cost of the work is estimated at around $3 million and it is expected to
take 12 months to complete.
The building remains compliant with the building code and Holmes Consulting
have confirmed that it is not earthquake prone.
Clients will be able to remain in the building while the improvement works
are undertaken and the company will aim to carry out most works outside
office hours.
As previously outlined, Precinct expects to spend between $15 million and $25
million over the next five to eight years improving the portfolio's seismic
performance.
For further information, contact:
Scott Pritchard
Chief Executive Officer
Office: +64 9 927 1640
Mobile: +64 21 431 581
Email: [email protected]
About Precinct (PCT)
Precinct is New Zealand's only specialist listed investor in prime and
A-grade commercial office property. Listed on the New Zealand Exchange, PCT
currently owns 16 New Zealand buildings - Auckland's PricewaterhouseCoopers
Tower, ANZ Centre, SAP Tower, AMP Centre, Zurich House and Downtown Shopping
Centre; and Wellington's State Insurance Tower, Vodafone on the Quay, 171
Featherston Street, 125 The Terrace, No. 1 and 3 The Terrace, Pastoral House,
Mayfair House, 80 The Terrace, Deloitte House and Bowen Campus.
End CA:00233665 For:PCT Type:GENERAL Time:2013-03-01 14:25:30
