NZX and Media announcement – 14 June 2012

ANZO to strengthen former Central Police Station in Wellington

ANZO (AMP NZ Office Limited) has announced that it intends to undertake seismic strengthening work at the former Central Police Station buildings in Wellington to bring it up to a high level of compliance with the current building code.

Scott Pritchard, CEO of ANZO, says the company decided to undertake this work, which will cost an estimated $3 million, after receiving advice from its structural engineers Holmes Consulting Group. Their advice is based on a comprehensive 3D computer modelled seismic assessment that found the buildings did not meet earthquake standards (less than 33% of the New Build Standard (NBS)).

Based on advice from Holmes Consulting Group, on completion of the upgrade works the buildings are expected to achieve a high level of compliance with the current building code at a minimum of 80% of NBS.

The heritage former Central Police Station dates back to 1917 and is made up of two buildings which sit on either side of the Vodafone on the Quay tower. The Vodafone on the Quay tower is a separate structure completed in 1998 and is not affected by the seismic performance of the former Central Police Station.

ANZO has begun initial design and planning work on the former Central Police Station. Remedial works, which will be subject to consenting processes, will begin as soon as possible after consents are obtained, and are expected to take several months to complete.

Scott Pritchard says, “We acknowledge the disruption we know this will cause to our clients at the former Central Police Station, but given the seriousness of the assessment’s findings, we need to get this work done. We will aim to minimise disruption and to get the work completed to a high standard as quickly as possible.”

“We take our responsibility to provide safe buildings for our clients seriously and are committed to bringing this heritage building, which has been a valued part of the Wellington landscape for a long time, up to a high standard.”

“Across the rest of our portfolio we remain committed to maintaining a high level of compliance with the current building code and we will continue to prioritise earthquake resilience through our ongoing programme of reinvestment in our buildings.”

The work at the former Central Police Station will include improving the roof bracing on each side of the building and strengthening its perimeter walls and masonry façade. Clients have been advised that they will need to leave the premises for a period of time while work is completed.

ANZO has offered to help clients in the former Central Police Station relocate temporarily to other CBD buildings while the upgrade is carried out, or exit their lease altogether. There are 5 office clients in the former Central Police Station and 5 retail clients generating total annual rental of $0.6 million.
Ends

About ANZO

ANZO is New Zealand’s only specialist listed investor in premium office buildings. Listed on the New Zealand Exchange, ANZO is owned by more than 7, 500 investors, has a property portfolio worth $1.25 billion and provides office space to over 200 businesses. ANZO currently owns 14 office buildings. In Auckland it owns the PricewaterhouseCoopers Tower, ANZ Centre, SAP Tower, AMP Centre and Zurich House. In Wellington ANZO owns the State Insurance Tower, Vodafone on the Quay, 171 Featherston Street, 125 The Terrace, No. 1 and 3 The Terrace, Pastoral House, Mayfair House, AXA Centre and Deloitte House.
To find out more visit: www.anzo.co.nz

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