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Precinct Properties’ green buildings deliver environment and economic benefits for occupiers

Precinct Properties, is leading the charge in the green building market, with occupants reporting increased productivity and employee attendance since moving into the portfolio.

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Wellington’s Bowen Campus set for innovative expansion

Precinct Properties announces two new high-performance work spaces

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PCT delivers strong profit result and launches One Queen Street

Precinct Properties New Zealand Limited (Precinct) (NZX: PCT) reported its financial results for the 12 months ended 30 June 2018 today, with net profit after tax (NPAT) up 57.2% to $254.9 million (2017: $162.1 million). The quality of Precinct’s portfolio including its active development pipeline has resulted in a significant portfolio revaluation gain of $208.7 million or 9.0% for the period. This has contributed to our increase in NPAT this year. Net operating income (distributable earnings) which adjusts for a number of non-cash items has also increased by 2.5% to $76.6 million over the period (2017: $74.7 million). On a cents per share (cps) basis, this equates to 6.32 cps and was in line with guidance (2017: 6.17 cps).


Precinct Properties delivers strong profit result

Strong leasing at Commercial Bay with revised completion dates for the $1 billion development.

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Precinct refinances bank facilities

Precinct Properties New Zealand Limited (Precinct) (NZX: PCT) announced today that it has refinanced its $760 million bank debt facility which was due to expire in November 2020.


50% sale of ANZ Centre agreed

Following the announcement made on 23 April 2018, Precinct Properties New Zealand Limited (Precinct) (NZX: PCT) announced today that it has now entered into a binding agreement with a fund controlled by Invesco for the sale of a 50% interest in ANZ Centre in Auckland for $181 million.


Precinct announces $202 million revaluation gain

Precinct Properties New Zealand Limited (Precinct) (NZX: PCT) today reported a draft revaluation gain on its property portfolio of approximately $202 million (2017: $77.5 million) or 8.8% uplift, increasing the value of Precinct’s portfolio to around $2.5 billion. Precinct’s NTA per share will increase from $1.23 to around $1.41 cents per share.