Media Release

25 November 2016

Queensgate Shopping Centre – update 25th November 2016

The Hutt City Council issued a notice under the Building Act late yesterday to Diversified NZ Property Trust, the owner of the Queensgate Shopping Centre, in relation to one building in the northeast corner of the Centre that includes the cinema complex and 300 carparks. The notice said that this building is now dangerous as a result of earthquake damage.

The City Council has asked for further information from Diversified before the Council makes a decision as to what should happen with the building. One option under consideration is demolition.

Diversified will provide the additional information requested by the Council as a matter of urgency, and expects that the Council will reach a decision today as to how to proceed. Diversified will then act immediately to carry out the Council’s requirements.

Part of the Shopping Centre has opened for business this morning with over 80 retailers recommencing trading.

Ends

About Queensgate Shopping Centre

Queensgate Shopping Centre is owned by Diversified NZ Property Trust (Diversified Trust) and is located at the corner of Queens Drive and Bunny Street in Lower Hutt. The portfolio of Diversified Trust is managed by Stride Investment Management Limited (SIML).

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