5 July 2005

Capital Properties announces lease renewal in Freyberg Building

Capital Properties New Zealand Limited announced today that Inland Revenue has exercised the lease renewal for 5,239 square metres of space in the Freyberg Building, Thorndon.

The lease renewal is for a 3 year term from 1 October 2005. The Freyberg Building remains fully occupied by three government tenants with a weighted average lease term of approximately 3.1 years as from the renewal date.

The Freyberg Building is located on Aitken Street in Thorndon, Wellington.

Inland Revenue occupy approximately 40% of the building.

ENDS