Market Forces Remain the Support for Precinct.
Narrow moat-rated Precinct Properties remains on sound footing, with every building fully occupied and public and private sector spending expected to support further growth in Auckland market rents over the coming two to three years. Our fair value estimate remains at NZD 1.33, with Precinct trading in line with fair value.Precinct’s major project--the Commercial Bay mixed-use development--is progressing well, with commitments already locked in for 46% of the retail space, which opens in two st...
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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