Precinct advances living strategy
Precinct is pleased to announce we will be advancing our Living strategy with some exciting initiatives.
Precinct has entered into an agreement with Eke Panuku Development Auckland to conditionally acquire a site at the junction of Dominion Road & Valley Road in Mount Eden, Auckland for a high-density residential apartment development. Scott Pritchard, says “Entering the multi-unit residential development market is a natural extension of Precinct’s core business, which is focused on high quality mixed-use precincts, and complements our overall strategic direction.”
Precinct will enter the student accommodation sector with the acquisition of 256 Queen Street, Auckland to develop a Purpose-Built Student Accommodation (PBSA) facility. Precinct has a clear vision to create new best in class, vibrant, city centre student accommodation.
We have also moved to a 100% ownership of Precinct Properties Residential Limited (PPRL), the joint venture established with Tim and Andrew Lamont in 2022. “Moving to 100% ownership strengthens Precinct’s residential platform and enhances our market position and pleasingly, both Tim and Andrew Lamont have committed to Precinct for a further five years and will work with us in advancing this strategy,” Scott Pritchard.
These all signal our long-term commitment to the residential and living sector. Full NZX announcement here.
Residential developments:
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