Media Release - Northbrook Wynyard Quarter Project

Level 2, 11 Westhaven Drive, Cracker Bay, Auckland 1010
P O Box 105526, Auckland 1143

MEDIA RELEASE
NZX: WIN / ASX: WTN
19 December 2024

MEDIA RELEASE – WINTON POSTPONES NORTHBROOK WYNYARD QUARTER PROJECT FOR 12
MONTHS
As a result of a softening construction market, Winton Land Limited has decided to push out its
Northbrook Wynyard Quarter project in Auckland by 12 months and instead accelerate its high-end
retirement village projects that are presently underway at Northbrook Arrowtown and Northbrook
Wanaka, the latter of which is set to open in May 2025.
Chief Executive Chris Meehan says Winton remains committed to this high-quality project in
downtown Auckland and will complete current preparation work, including the piling works, and
building consenting over the 12-month period.
“We believe there is further opportunity for construction costs and interest costs to moderate over
the next year which will flow through to the property market and have a positive impact upon this
project.”
“It’s a big project for us, we’re going to play a prudent game, and we want to get the timing in the
cycle right.”
Mr Meehan says the project has a high level of commitment and strong demand.
“Pre-sales have been strong and we are confident in the ongoing demand for this project going
forward.”
“The Northbrook Wynyard Quarter development remains an important part of our property
portfolio, and we look forward to its completion once the next stage of development commences in
2026.”
Existing Northbrook Wynyard Quarter pre-sale buyers are being offered the opportunity to continue
with their pre-construction interests at the current prices or seek a full refund of their deposit plus
any interest accrued.
Ends.
For all media enquiries, please contact:
Anna Lillis
Lillis Clark
021 683 282
anna@lillisclark.com