We are city centre specialists.
We are New Zealand's only listed property business which specialises in premium real estate. We own, develop and manage the best commercial assets in Auckland and Wellington city centres.
As a long-term owner, we recognise the importance of creating places where people want to spend time which is why we are committed to delivering premium, mixed-use places that contribute to vibrant, inclusive cities.
The quality of our assets is matched only by our passionate team who strive to ensure our clients have an exceptional experience every day.
We first listed on the NZX in 1997 as a unit trust owning just six properties. Today, Precinct is a listed PIE and owns over 18 assets with a portfolio value of $3.7 billion.
We are city centre specialists committed to transforming spaces that deliver premium property solutions in Auckland and Wellington. Our clients include many of New Zealand's leading businesses and government organisations.
Our core business is owning, developing and managing commercial office buildings however we have diversified significantly in recent years to include assets that contribute to mixed-use precincts like retail and hospitality. Our development projects enhance our portfolio, adding value to attract and retain high quality clients.
As active managers striving for market leading sustainability outcomes, we have a constant pipeline of work that involves upgrading building management systems, redevelopment and refurbishment so our assets operate efficiently, prioritising carbon reductions.
On 1 July 2023, Precinct effected a restructuring to create a stapled group structure. A stapled group comprises two listed parent companies whose shares are held by the same shareholders in equal proportions. The shares in each parent company can only be transferred or dealt with together. Shareholders in Precinct Properties Group hold an equal number of shares in Precinct Properties New Zealand Limited (“PPNZ”) and Precinct Properties Investments Limited (“PPIL”) and these shares can only be dealt with together. The stapled issuers are described as “Precinct Properties NZ Ltd & Precinct Properties Investments Ltd (NS)” on NZX systems and the ticker code for the stapled shares is PCT.
Precinct’s investments and income that qualify for the purposes of Portfolio Investment Entity (PIE) status (such as long-term holding of commercial real estate assets) will mainly be undertaken by PPNZ and its subsidiaries, while investments and income that do not qualify for PIE status (such as management income and operational businesses) will mainly be undertaken by PPIL and its subsidiaries.
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 long-term, sustainable value from city centre real estate.
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.