Step into a space that’s ready for you to design, build and manage, just how you want it. Co-working, private office and virtual memberships available.
“Over the past 12 months, we are pleased to have executed on our strategic growth opportunities. This includes advancing both our living and capital partnering strategies, which have become core components of our business.”
Scott Pritchard,
CEO, Precinct Properties
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Step into a space that’s ready for you to design, build and manage, just how you want it. Co-working, private office and virtual memberships available.
“Over the past 12 months, we are pleased to have executed on our strategic growth opportunities. This includes advancing both our living and capital partnering strategies, which have become core components of our business.”
Scott Pritchard,
CEO, Precinct Properties
As 2025 draws to a close, we’d like to thank our clients, shareholders, partners and suppliers for your continued support. It’s been a big year for Precinct, with milestones and achievements that wouldn’t have been possible without the businesses and people who work alongside us. We hope you enjoy a well-earned break and look forward to seeing you in 2026.
Our Clients in Focus
Earlier this year, we completed our client engagement survey, which will become an annual initiative from 2026. We were delighted with the strong participation and valuable feedback.
Survey highlights:
Clients are now in the office an average of 4.1 days per week, well above the national average of 3.3 reported by CBRE.
90% of clients are satisfied or very satisfied with being in a Precinct building.
The Club has grown to over 8,000 members, hosting over 300 events in 2025 and acting as the anchor for key celebrations such as Matariki and the Pride Festival. In 2026, we’re excited to roll out a similar programme in Wellington. The Club continues to foster a genuine sense of community and connection for our office occupiers.
Sustainability remains a core focus for Precinct, with 2025 delivering several milestones that directly benefit our clients and the wider business:
Retained a top-five ranking in Forsyth Barr’s C&ESG ratings with an A+ score
Awarded the Credibl Sustainability Leadership Award at the 2025 Deloitte Top 200 Awards
Achieved a 5-star GRESB rating, placing us in the top 20% of global real estate funds
2025 was a big year across our office portfolio, with new openings, client milestones, and flexible workspace initiatives:
Te Kaha, Deloitte Centre: Recognised at the 2025 Property Council New Zealand Awards with three Best in Category awards and an Excellence award, and became New Zealand’s first mixed-use office/hotel development to achieve a 6 Star Green Star As Built ‘World Leadership’ rating.
Beca House: We welcomed our largest client, Beca, and completed Beca House, marking the culmination of our decade-long Wynyard Quarter Innovation Precinct redevelopment.
61 Molesworth Street, Wellington: Nearing completion and will welcome MFAT as its anchor tenant from early 2026.
Precinct Flex: In August, Generator became Precinct Flex, reflecting a more connected approach to the way we support different ways of working across our portfolio. This year also saw the opening of Pipiri Lane in Wynyard Quarter, adding another thoughtfully designed, flexible space for our clients.
Advancing our Living Strategy
We’re proud of the progress on our living strategy in 2025, with much more to come in 2026:
Advanced 256 Queen Street, a 638-bed purpose-built student accommodation tower
Began work on 22 Stanley Street, New Zealand’s largest student accommodation project
Launched Pillars, a premium boutique development in St Mary’s Bay.
Equity Raise
In October, Precinct Properties completed a $310 million equity raise, including a fully underwritten $285m placement and a $25m share purchase plan. This strengthens our $3.7 billion development pipeline, supporting premium office projects and living initiatives like the 256 Queen Street student accommodation.
Commercial Bay celebrated five years in 2025, going from strength to strength and cementing its reputation as a destination for food, fashion, and memorable experiences. Highlights included:
Solstice: Sold-out fashion shows launching the Spring/Summer collections
Santa’s Studio: A chic festive experience with all 695 portrait sessions selling out within five days
Te Manaaki
Precinct, along with Heart of the City, with support from Auckland Council via the city centre targeted rate, has been proud to once again deliver Te Manaaki – Auckland’s Giant Christmas Tree at Te Komititanga. With over 10,000 attendees at the lighting ceremony, the tree has become a central focus for city celebrations and is helping to establish a new holiday tradition for Tāmaki Makaurau.
Supporting our Communities
At Precinct, we believe vibrant city centres thrive when communities are supported. In 2025, we continued our partnerships with DineAid, the Auckland City Mission, and the Wellington City Mission, helping thousands of Kiwis through initiatives like the DineAid Christmas campaign and Donation Sleighs. These efforts reflect our commitment to creating positive social impact alongside our developments.
Precinct has officially taken possession of Downtown Carpark, marking an important milestone in the site’s redevelopment. The carpark will continue to operate as usual until late next year, when construction works are scheduled to begin.
For more information on what’s planned, click here.
