Low Vacancy in Prime-Grade Auckland Continues to Support Precinct's Capital Investment Program
As part of its Annual General Meeting, Precinct outlined it is making solid progress reweighting its portfolio to Auckland. The reweighting is purely development-led, with NZD 765 million to be invested on major developments along the Auckland waterfront. This will have an added advantage of reducing the weighted average age of the portfolio from 27 years to 11 years, reducing ongoing capital expenditure requirements and improving dividend growth prospects.The investment in upgrading existing a...
Precinct Properties New Zealand is engaged in investment in predominantly prime commercial office properties in the central business district of major New Zealand cities. As of June 30 2010, Co. had total assets of NZ$1,299,328,000 and investment properties portfolio valued at NZ$1,276,800,000.
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