CEO STATEMENT

Precinct conducts its business as a responsible corporate citizen. The operational aspects of Precincts business, as a developer and manager of property, have an external impact on the environment, the community and the economy.

Precinct places great importance on operating in the most sustainable way possible it can. The initiatives and policies outlined in the section below relate to the impact the business has and the measures it takes to reduce this impact and better the communities in which it operates.


OUR APPROACH

Precinct encourages innovation to deliver a quality product for its clients. Since Precinct re-branded in 2011, it has grown its management function through its manager which now employs 55 staff to deliver its high levels of service and manage its assets.

Precinct's approach reflects the goal of a more environmentally sustainable management model. This approach recognises the drive to a more environmentally sustainable portfolio. Our objective is to deliver improvements in environmental performance and operational costs, and meet the trend from occupiers to prefer more environmentally sustainable office accommodation.

Our sustainability approach incorporates elements from international best practice models. Precinct uses a series of internal and external measurements to report performance. One of the key external measurements is GRESB4. GRESB conduct annual assessments of real estate portfolios capturing critical information regarding environmental, social and governance (ESG) performance and sustainability best practices.

Precinct believe that GRESB is the most appropriate assessment for our business and intend on reportingagainst this measure going forward. Precinct has adopted a sustainability framework illustrating Precinct’s sustainability context,approach and priorities. This framework will be implemented and managed to provide benefits within the next financial year and beyond.

Developing the future

Creating an iconic world class city centre:

This involves creating visionary designs across a mixed portfolio of office and retail areas. By incorporating world class occupiers in world class space, Precinct aims to create iconic city centres.


Build smarter:

This is achieved by incorporating environmental efficiency into the builds, and achieving high ratings in regards to NABERS NZ5, GRESB, and NBS scores.


Resilience to climate change and economic trends:

Future proofing the assets is key to being resilient to change. By keeping ahead of technological, environmental and work habit changes, Precinct can mitigate risks associated with these.


Vibrant and prosperous cities:

By creating vibrant and prosperous areas, Precinct aims to tie the success of the assets to the success of the city. Growing with it to create a location in high demand.


Operational excellence

Spaces to thrive:

This is achieved by offering exceptional end of trip facilities, environmental quality with fair operating costs. These three categories being market driven, are key to maintaining sustainable spaces to thrive.


Minimal environmental footprint:

Precinct maintain a conscious effort to reduce water and energy usage, as well as reducing the amount of carbon emissions. These are reduced through high quality maintenance of the assets, and the eco efficient builds of developments and redevelopments.


Enabling business continuity:

To enable business continuity it is essential to have focus on cyber security and seismic performance amongst other things. Although not all situations can be predicted, risks can be mitigated by increasing building reliability with a structured capital expenditure plan.


Sustainable and predictable returns:

Building reliability aided by high occupancy rates, long weighted average lease terms, and a well-managed earnings outlook will result in sustainable earnings.


Empowering people

Strengthening communities:

It is important to have regard to the sustainability of all stakeholders of the business. Precinct believe in strengthening the community by giving both direct contributions and indirect social and economic benefits.


Health, safety and wellbeing:

Precinct also deem the health, safety and wellbeing of clients, staff, contractors, and visitors as highly important. Maintaining good relationships is also a key part of long term sustainability, be it with government, council, contractors or clients.


One team:

Working as a team requires a degree of internal sustainability, and Precinct views the key aspects to the continuity of the team as; maintaining a diverse and inclusive environment, creating a place to learn and develop, having a positive culture, and having regards for staff wellbeing. Combining these factors provides an optimal environment in which exceptional service can be provided to clients.


City partners and relationships:

One of the keys to successful sustainability is the successfulness of the relationships and partnerships involved. Focusing on positive relationship management, Precinct strive to create a mutually beneficial environment, in which both parties can thrive.



Sustainability
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