Major leasing progress at Wynyard Quarter Stage Two

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 – 18 December 2018
Major leasing progress at Wynyard Quarter Stage Two
Precinct Properties New Zealand Limited is pleased to announce it has secured Media Design
School on a 15-year lease term encompassing 4,760 square metres at 10 Madden Street at
Wynyard Quarter. As announced in November, Precinct committed to Stage Two at Wynyard
Quarter on an uncommitted basis and with Media Design School secured this now represents
a leasing commitment to 60% of the project’s office area.
Scott Pritchard, Precinct's Chief Executive, said, “The addition of the Media Design School to
our Innovation Precinct is significant and demonstrates the momentum that’s underway to
create a vital new creative community. We believe Wynyard Quarter will be on a par with
leading international innovation precincts and having secured one of the world’s leading
design and digital tertiary institutions is a huge advancement.”
Located at 10 Madden Street, the second stage of Wynyard Quarter is scheduled to
complete at the end of 2020 and provides for a total net lettable area of 8,290 square metres.
Once fully leased the project should generate a yield on cost in excess of 7.0%.
Today, Precinct also announced further progress of the One Queen Street development with
the unconditional commitment of Bell Gully to around 3,800 square metres of office space.
The project is now overall 76% pre-committed following the previously announced
commitment by InterContinental Hotels Group to 11 levels of the building.
Scott Pritchard said, “We are delighted to have secured leading law firm Bell Gully at One
Queen Street, three years ahead of practical completion. Securing this commitment from
outside our existing portfolio is a great result and illustrates the quality of the Commercial Bay
precinct.”
-ends-
For further information, please contact:



Scott Pritchard
Chief Executive Officer
Office: +64 9 927 1640
Mobile: +64 21 431 581
Email: scott.pritchard@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
Richard Hilder
Chief Financial Officer
Office: +64 9 927 1645
Mobile: +64 29 969 4770
Email: richard.hilder@precinct.co.nz

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
Auckland’s PwC Tower, AMP Centre, ANZ Centre (50%), Zurich House, HSBC House, Mason
Brothers Building, 12 Madden Street, 10 Madden Street and Commercial Bay; and Wellington’s
State Insurance Building, Dimension Data House, No. 1 and No. 3 The Terrace, Pastoral House,
Mayfair House, and Bowen Campus.
George Crawford
Chief Operating Officer
Office: +64 9 927 1641
Mobile: +64 21 384 014
Email: george.crawford@precinct.co.nz