We are city centre specialists.
Precinct is the largest owner and developer of premium inner-city business space in Auckland and Wellington.
We are committed to delivering a premium offering and have a strong belief that our properties need to both contribute to the life of a city and be places where people and businesses can thrive.
The quality of our buildings is matched only by our passionate team who strive to ensure Precinct’s clients have the best amenities and service available.
Our strategy in action.
First listing in 1997, we were a unit trust owning just six properties. Today, Precinct is a listed PIE and owns 18 properties with a portfolio value of $3.3 billion, and is ranked in the NZX top 30.
We corporatised in 2011 and adopted our new name, Precinct Properties New Zealand Limited in 2012. In March 2021, the Independent Directors of Precinct reached an agreement with the Manager, AMP Haumi Management Limited (AHML), to terminate the Management Services Agreement and internalise the management of Precinct.
Precinct reflects our evolution as a business. We are city centre specialists committed to transforming spaces to deliver premium property solutions in Auckland and Wellington. Our clients include many of New Zealand's leading businesses and government organisations.
We create places for businesses to thrive. We understand the value of mixed-use spaces that incorporate public amenity. Commercial Bay, for example, is now a destination for city centre residents, visitors and the business community to collectively benefit from.
While predominantly focused on office assets, Precinct invests in other city centre real estate including land, retail and hospitality. Precinct's development activities enhance our portfolio, adding value to attract and retain high quality clients.
We recognise the importance of each of our stakeholders. Understanding their requirements, expectations and opinions is important to us and to the overall success of our business. Precinct have an active management approach in everything we do.
Our approach and strategy.
Precinct understands that the operational aspects of its business, as an owner and developer of property, are responsible for having an external impact on a number of environmental, social and economic issues. By recognising this, and that we operate in a changing global environment, Precinct aims to conduct its business as a responsible corporate citizen and therefore places great importance on operating in the most sustainable way it can.
Reviewed annually, Precinct's strategy focuses on three distinct areas, our people and partners, operational excellence and developing the future. The primary objective being to create sustainable value from city centre real estate. We have a well-defined strategy, it has evolved materially since 1997 when the company was first established. Our strategy includes a prominent integration of sustainability across all areas of the business and a renewed focus on Enviromental, Social and Governance (ESG). It provides clear direction for both the Precinct team and our investors. Having targets across our business is helping us drive performance and achieve results.
Establishing our 2020 vision in 2014 paved a path for our business to transform significantly. We continue to execute our long-term strategy, and drive meaningful growth in our operating income while investing in our assets to deliver greater value for our clients.
Where inspiring workspaces and dynamic communities collide. Precinct-owned, Generator is New Zealand's leading flexible workspace provider, combining inspirational office spaces with enticing events, dynamic community and good old-fashioned hospitality. With our smart tech and even smarter team, we create spaces for people and businesses to work, meet, play and realise their dreams. Generator is a catalyst for change and growth.