Precinct Properties

New Zealand Limited

Investment Asset Summary

June 2022

Photo credit: Jono Parker

Contents

Portfolio Overview

4

Auckland Portfolio

6

PwC Tower

7

Commercial Bay Retail

8

HSBC Tower

9

Aon Centre Auckland

10

Jarden House

11

Mason Bros.

12

5A (12 Madden)

13

204 Quay Street

14

10 Madden Street

15

Wellington Portfolio

16

No. 1 The Terrace

17

NTT Tower

18

Mayfair House

19

Aon Centre Wellington

20

Charles Fergusson Building

21

Defence House

22

Understanding and working in partnership with all our stakeholders

is central to Precinct's success.

Precinct's premium- grade real estate is delivering consistent and sustainable results.

Note: Excludes development properties such as 1 Queen Street, Bowen Campus stage 2, Bowen House, and Wynyard Stage 3.

More information on our development properties can be found at www.precinct.co.nzThis document includes the assets held for sale

Disclaimer

The information and opinions in this presentation were prepared by Precinct Properties New Zealand Limited or one of its subsidiaries (Precinct). Precinct makes no representation or warranty as to the accuracy or completeness of the information in this presentation.

Opinions including estimates and projections in this presentation constitute the current judgment of Precinct as at the date of this presentation and are subject to change without notice. Such opinions are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond Precinct's control, and which may cause actual results to differ materially from those expressed in this presentation.

Precinct undertakes no obligation to update any information or opinions whether as a result of new information, future events or otherwise. This presentation is provided for information purposes only.

No contract or other legal obligations shall arise between Precinct and any recipient of this presentation.

Neither Precinct, nor any of its Board members, officers, employees, or other representatives will be liable (in contract or tort, including negligence, or otherwise) for any direct or indirect damage, loss or cost (including legal costs) incurred or suffered by any recipient of this presentation or other person in connection with this presentation.

Precinct is a city centre specialist

We are attracting and retaining the highest quality clients as our occupiers, including the New Zealand government and New Zealand's best corporate entities.

Investment

Property

Portfolio

Key property information

(figures as at 30 June 2022 unless otherwise stated)

Property

City

NLA

Typical Floor

Cap rates %

Valuation

WALT

Occupancy

plate

HSBC Tower

Auckland

31,590 m²

1,350 m²

4.6%

$480 m

5.5 years

97%

AON Centre - AKL

Auckland

25,354 m²

1,097 m²

5.0%

$243 m

4.6 years

98%

Jarden House

Auckland

13,762 m²

912 m²

4.9%

$143 m

4.2 years

93%

Mason Brothers

Auckland

4,704 m²

1,500 m²

4.5%

$61 m

3.3 years

100%

PwC Tower

Auckland

39,550 m²

1,390 m²

4.3%

$675 m

9.4 years

100%

Commercial Bay - Retail

Auckland

16,830 m²

5.3%

$400 m

4.9 years

100%

204 Quay Street

Auckland

5,456 m²

7.0%

$23 m

6.1 years

85%

AON Centre - Wellington

Wellington

24,769 m²

1,050 m²

5.9%

$198 m

4.3 years

100%

NTT Tower

Wellington

16,633 m²

1,000 m²

5.6%

$152 m

2.9 years

100%

No.1 The Terrace

Wellington

18,613 m²

1,300 m²

5.1%

$157 m

8.1 years

100%

5.0%

Defence House

Wellington

25,929 m²

2,300 m²

$200 m

14.5 years

100%

10 Madden Street

Auckland

8,238 m²

1,275 m²

5.1%

$86 m

11.5 years

96%

5A (12 Madden)

Auckland

8,202 m²

1,250 m²

4.8%

$100 m

7.0 years

100%

Charles Fergusson Building

Wellington

14,042 m²

910 m²

5.0%

$105 m

11.5 years

100%

Mayfair House

Wellington

12,259 m²

1,100 m²

5.4%

$87 m

13.9 years

100%

Total

265,932 m²

4.9%

$3,108 m

7.1 years

99%

Notes:

  • Excludes development properties such as 1 Queen Street and Bowen Campus stage 2, Bowen House, and Wynyard Stage 3. No.1 The Terrace value includes the value of the freehold title in respect to Precinct's leasehold interest at No.3 The
    Terrace.

99%

Portfolio occupancy

82

Global Real Estate Sustainability

Benchmark (GRESB) Score achieved

FY23 Key leasing events (by NLA)

5%2%

12%

Market

7%

CPI

Fixed

Next Expiry

73%

No event

3.7 billion

Portfolio value as at 30 June 2022 (Including developments)

7.1 years

Weighted Average Lease Term

Office Revenue by Industry

Government (Local and

19%

30%

Central)

Legal

10%

Financial Services, Banking,

and Insurance

Information Technology

16%

26%

Other

Lease expiry profile

% of Income

Auckland

Wellington

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

Vacant

23

24

25

26

27

28

29

30

31

>31

Financial Year

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Disclaimer

Precinct Properties New Zealand Ltd. published this content on 18 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2022 23:09:03 UTC.