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.