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Rebranded to Precinct Properties New Zealand Limited.
This was also the year Precinct acquired the Downtown Shopping Centre site which would become Commercial Bay.
Acquired One Queen Street. This commercial asset was formerly occupied by Air NZ and subsequently was HSBC House before redevelopment began in 2021.
Precinct secures Wynyard Quarter development. Precinct was appointed the sole commercial developer in Wynyard Quarter to deliver the Wynyard Quarter Innovation Precinct in partnership with Council’s development body, Eke Panuku.
Precinct commits to development of 75,000sqm of office space for Government. This is the single largest leasing transaction in New Zealand.
Precinct acquires remaining 50% ownership of New Zealand’s leading co-working business, Generator.
Commercial Bay opens. The Commercial Bay retail centre opened in June 2020, followed by the PwC Tower in August 2020 - bringing another 3,000 workers to the prime waterfront block.
Management of Precinct internalised.
Expanded the business to include residential development. In addition to advancing a residential strategy, Precinct entered into commercial partnerships with global investors, GIC and PAG. Precinct was also the first NZ property company to commit to World Green Building Council’s Net Zero Carbon Buildings Commitment.
Appointed preferred developer for the Downtown Carpark site. Precinct also entered into a Joint Venture with local iwi, Ngāti Whātua Ōrākei, to acquired assets in the eastern end of the city centre. Precinct executed its strategy to form a stapled business structure. Willis Lane, a premium hospitality destination in Wellington city centre opened.
Precinct rebrand. A better reflection of our business and our purpose to create spaces that enable people to make the most of city life.
Resource consent has been granted for the Downtown Carpark development under the Fast-track Approvals Act 2024. The Expert Panel issued its final decision on August 5, 2026, marking a significant milestone for the project.
Level 7 at Aon Centre is Precinct’s latest premium turnkey workplace in its Commercial Bay portfolio. It is designed with the care of a bespoke workplace while being ready from day one, responding to demand for flexibility, faster move-ins and cost certainty without a generic feel.
Precinct welcomes Auckland artist Haser back for the second year of Matariki by Haser, an expanded Artist in Residence installation across its Auckland and Wellington buildings. Running from 1 July to early August, it transforms windows, the airbridge and shared spaces into vibrant canvases celebrating Matariki.
Precinct Properties has entered into an agreement to sell a 50% interest in PwC Tower in Auckland and establish a new investment partnership with PAG, a global investment firm.
Signage for GHD House was installed at 21 Queen Street, marking global professional services company GHD’s naming rights at Commercial Bay. The rights are part of a 12-year agreement with Precinct Properties, and GHD will occupy three contiguous floors in the building.
Precinct marked International Women’s Day at its weekly all-staff meeting with a panel of female leaders from across the business, facilitated by Emma de Vries. The discussion was an opportunity to reflect on how the organisation shows up, its progress, and actions to help create a workplace where women are supported.