Tightening Office Markets Continue to Support Precinct’s Reweighting to Auckland.
Precinct Properties reported first-half 2017 pretax operating earnings of NZD 3.25 cents per security, down 7.7% on the prior year. The decline in earnings was in line with expectations, reflecting the dilutive effect of asset disposals and the closure of Wellington offices as they undergo redevelopment. Our forecasts are largely unchanged, with income lost from the temporary vacancy of Deloitte House being partially offset by a rise in occupancy across the portfolio.ÂOur fair value estimate fo...
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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