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Crown Wellington Office Accommodation

NZX RELEASE

26 November 2012

Kiwi Income Property Trust – Crown Wellington Office Accommodation

Kiwi Income Property Trust has been advised by the Property Management Centre of Expertise (PMCoE), on behalf of the Crown, that Unisys House has been identified as one of a number of potential suitable buildings for the provision of office accommodation for government tenants.

David Johnson, Commercial Portfolio Manager for the Manager of the Trust, said “We look forward to the next step in the Crown’s process, which involves commercial negotiations with PMCoE and its advisor to reach agreement on a mutually beneficial solution. We understand this process is to commence as soon as practicable.”

About Unisys House

Unisys House comprises two adjoining properties: a 19-storey office tower constructed in 1968; and Aurora Chambers, an eight-storey tower constructed in 1975. The property is suited to government tenants, being within a short walking distance of Parliament. It enjoys a high-profile position at the northern end of the CBD and offers large, efficient floor plates of around 1,200 sqm with a total rentable area of 22,158 sqm. The property has a current occupancy rate of 97% and a weighted average lease term of 2.2 years.

ENDS

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