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Hot Topic Budget 25
Property
3 mins to read

Precinct's $1.9 billion bet on Auckland housing

Commercial Bay owner now has $431m worth of ‘build-to-sell’ properties under construction.

Precinct’s York House in Parnell, being developed with Kajima Corp.

Key points
  • Revenue: net property income up 4.4% at $71.4 million
  • Profit: after-tax income down $9.7m to $3.2m
  • Main takeaway: company will consider more asset sales to fund its growth strategy.

 

Commercial landlord Precinct Properties, owner of Auckland’s $1 billion Commercial Bay, says it has $1.9b of residential developments in the pipeline.

The inner-city property company, which has a direct commercial portfolio valued at $2.8b across Auckland and Wellington, has enlisted capital

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Brent Melville Thu, 20 Feb 2025
Contact the Writer: bmelville@nbr.co.nz
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Key points
  • Revenue: net property income up 4.4% at $71.4 million
  • Profit: after-tax income down $9.7m to $3.2m
  • Main takeaway: company will consider more asset sales to fund its growth strategy.

 

Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Precinct's $1.9 billion bet on Auckland housing
Property,
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true