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Ann: GENERAL: PCT: Downtown Development Agreement progress update

    • Release Date: 13/02/15 11:58
    • Summary: GENERAL: PCT: Downtown Development Agreement progress update
    • Price Sensitive: No
    • Download Document  1.89KB
    					PCT
    13/02/2015 11:58
    GENERAL
    PRICE SENSITIVE
    REL: 1158 HRS Precinct Properties New Zealand Limited
    
    GENERAL: PCT: Downtown Development Agreement progress update
    
    The potential sale of Queen Elizabeth Square was approved by Auckland
    Council's Development Committee on 11 September 2014.  The Development
    Committee met yesterday and received a report from Council officers relating
    to the tenure and area of the potential sale of Queen Elizabeth Square to
    Precinct.
    
    The report from Council officers noted that the sale of Queen Elizabeth
    Square is being progressed on the basis of a freehold interest and the
    boundary of the land which may be the subject of sale should align with
    Zurich House, 21 Queen Street.
    
    As part of that meeting, councillors were advised that the Development
    Agreement with Precinct in relation to the construction of the City Rail Link
    tunnels through the Downtown site is expected to be concluded in the near
    term. Precinct confirms that negotiations are advanced and looks forward to
    concluding agreement shortly.
    
    -ends-
    
    For further information, contact:
    
    Scott Pritchard
    Chief Executive Officer
    Office: +64 9 927 1640
    Mobile: +64 21 431 581
    Email: [email protected]
    
    George Crawford
    Chief Financial Officer
    Office: +64 9 927 1641
    Mobile: +64 21 384 014
    Email: [email protected]
    
    About Precinct (PCT)
    Precinct is New Zealand's only specialist listed investor in premium and
    A-grade commercial office property. Listed on the NZX Main Board, PCT
    currently owns 17 New Zealand buildings - Auckland's PwC Tower, SAP Tower,
    AMP Centre, ANZ Centre, Zurich House, HSBC House and Downtown Shopping
    Centre; and Wellington's State Insurance Building, Vodafone on the Quay, 171
    Featherston Street, 125 The Terrace, No. 1 and No. 3 The Terrace, Pastoral
    House, Mayfair House, 80 The Terrace , Deloitte House and Bowen Campus.
    End CA:00260624 For:PCT    Type:GENERAL    Time:2015-02-13 11:58:39
    
    				

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