Precinct capital transactions update

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Level 19, 157 Lambton Quay, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494
2267
NZX announcement – 23 April 2018
Precinct capital transactions update
Precinct Properties New Zealand (NZX: PCT) announces progress on the previously announced
sale process for a 50% interest in ANZ Centre and an agreement to sell 10 Brandon Street in
Wellington for $10.2 million.
Expressions of interest have now closed with strong interest expressed from multiple parties for
a 50% interest in ANZ Centre. Pricing indications are at a premium to the 30 June 2017
independent valuation. Precinct has agreed to a period of exclusivity for one party to
complete due diligence and enter into a binding sale and purchase agreement. At this stage
there is no binding agreement for the sale and purchase of the property.
The sale of 10 Brandon Street is conditional on ground lessor approvals and is due to settle in
August 2018.
Scott Pritchard, Precinct's Chief Executive, said, “The half share interest in the ANZ Centre has
received very strong interest and we look forward to forming a long-term relationship with the
preferred bidder. With several options for 10 Brandon Street having been assessed to date, we
believe the sale of this asset represents the best option for Precinct. Progressing these
asset sales will enable Precinct to focus on and recycle capital into its future development
opportunities.”
ends-
For further information, please contact:
Richard Hilder
Chief Financial Officer
Office: +64 9 927 1645
Mobile: +64 29 969 4770
Email: richard.hilder@precinct.co.nz



Scott Pritchard George Crawford
Chief Executive Officer Chief Operating Officer
Office: +64 9 927 1640 Office: +64 9 927 1641
Mobile: +64 21 431 581 Mobile: +64 21 384 014
Email: scott.pritchard@precinct.co.nz Email: george.crawford@precinct.co.nz

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Level 19, 157 Lambton Quay, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494
2267
About Precinct (PCT)
Precinct is New Zealand’s only listed city centre specialist investing predominately in premium
and A-grade commercial office property. Listed on the NZX Main Board, PCT currently owns 14
New Zealand buildings – Auckland’s PwC Tower, AMP Centre, ANZ Centre, Zurich House, HSBC
House, Mason Brothers Building, 12 Madden Street and Commercial Bay; and Wellington’s AON
Centre, Dimension Data House, No. 1 and No. 3 The Terrace, Pastoral House, Mayfair House and
Bowen Campus.