MEDIACOM-RELEASE-AMP-ASSET-MANAGEMENT
FULL SPEED AHEAD FOR $171M PRICEWATERHOUSECOOPERS TOWER
AMP NZ Office Trust (ANZO) confirmed today that it will build a 31 level, $171 million premium office building on the
Auckland waterfront. The building will be known as the PricewaterhouseCoopers Tower.
"After detailed analysis of the commercial property environment and discussions with a range of New Zealand's top
corporates, we believe that the time is right for a new premium tower in Auckland," said ANZO executive manager, Anthony
Beverley.
"It's now full speed ahead for what we believe will be New Zealand's top office tower, with construction proceeding on
Monday. The tower will be built on the 188 Quay Street which is arguably NZ's best office site and is now owned by ANZO
and will join the six other premium buildings in its $486 million portfolio."
"Our aim is to create an Auckland landmark that provides a home to tenants who wish to position them selves as leaders
in their fields. The harbour-side location is crucial in this regard, with all our research indicating that blue chip
companies have a strong preference for waterfront properties."
The building has been designed to minimise its impact on adjacent buildings while maximising the tenant features. It
features a triangular floor plate to maintain harbour views for other buildings and uses only 33% of the site area. The
31 level tower will also incorporate some retail space at plaza and ground floor levels, as well as covered public
access from Quay Tower to the waterfront.
"I am pleased to advise that the building has commitments from three of New Zealand's top corporates -
PricewaterhouseCoopers and Buddle Findlay as anchor tenants together with a supporting commitment from the ANZ Bank -
these represent a firm pre-leasing level of 54%".
"We are absolutely delighted to have these three companies joining us and are confident that we will be able to fill the
remaining space prior to completion in May 2002."
"In fact, we have entered into an exclusive discussions with another potential tenant and are also meeting with a range
of other tenants who are dissatisfied with the performance of their current accommodation and are interested in the
PricewaterhouseCoopers Tower."
ANZO is finalising arrangements with Fletcher Construction Ltd for the construction of the building, who believe the
Tower will be the first true 21st century building in Auckland. "The Waterfront Tower will combine form and function,
while also taking the surrounding environment into account," said Peter Neven of Fletcher Construction.
"We are delighted to be involved with Auckland's next prestigious tower and to be working with AMP," said Mr Neven.
Ends.
For more information contact:
Anthony Beverley, ANZO Executive Manager, Ph (04) 494 2266 Mob. (021) 437 969
Website: www.ampam.co.nz
RELEASED BY MEDIACOM
MD1951-455/ALO/EML
21 MAY 2000
NNNN 12/05/00 17-56NZ
MEDIACOM-RELEASE-AMP-ASSET-MANAGEMENT FULL SPEED AHEAD FOR $171M PRICEWATERHOUSECOOPERS TOWER
AMP NZ Office Trust (ANZO) confirmed today that it will build a 31 level, $171 million premium office building on the
Auckland waterfront. The building will be known as the PricewaterhouseCoopers Tower.
"After detailed analysis of the commercial property environment and discussions with a range of New Zealand's top
corporates, we believe that the time is right for a new premium tower in Auckland," said ANZO executive manager, Anthony
Beverley.
"It's now full speed ahead for what we believe will be New Zealand's top office tower, with construction proceeding on
Monday. The tower will be built on the 188 Quay Street which is arguably NZ's best office site and is now owned by ANZO
and will join the six other premium buildings in its $486 million portfolio."
"Our aim is to create an Auckland landmark that provides a home to tenants who wish to position them selves as leaders
in their fields. The harbour-side location is crucial in this regard, with all our research indicating that blue chip
companies have a strong preference for waterfront properties."
The building has been designed to minimise its impact on adjacent buildings while maximising the tenant features. It
features a triangular floor plate to maintain harbour views for other buildings and uses only 33% of the site area. The
31 level tower will also incorporate some retail space at plaza and ground floor levels, as well as covered public
access from Quay Tower to the waterfront.
"I am pleased to advise that the building has commitments from three of New Zealand's top corporates -
PricewaterhouseCoopers and Buddle Findlay as anchor tenants together with a supporting commitment from the ANZ Bank -
these represent a firm pre-leasing level of 54%".
"We are absolutely delighted to have these three companies joining us and are confident that we will be able to fill the
remaining space prior to completion in May 2002."
"In fact, we have entered into an exclusive discussions with another potential tenant and are also meeting with a range
of other tenants who are dissatisfied with the performance of their current accommodation and are interested in the
PricewaterhouseCoopers Tower."
ANZO is finalising arrangements with Fletcher Construction Ltd for the construction of the building, who believe the
Tower will be the first true 21st century building in Auckland. "The Waterfront Tower will combine form and function,
while also taking the surrounding environment into account," said Peter Neven of Fletcher Construction.
"We are delighted to be involved with Auckland's next prestigious tower and to be working with AMP," said Mr Neven.
Ends.
Website: www.ampam.co.nz