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Current as of 29/04/16 07:39PM NZST
Property editor of the NZ Herald

NZ's biggest reno: ANZ's tower + video

Precinct Properties New Zealand's $76 million ANZ Centre upgrade saw 22 office floors refurbished, making it the country's biggest building renovation.

Scott Pritchard, Precinct chief executive, said the NZX-listed business had been faced with losing ANZ as a tenant in the building on the corner of Albert, Swanson and Federal Sts if it did not make changes.

So within about a week, he marshalled a team to put together a proposal for the bank on the makeover, which saw installation of many new services including a new outdoor cafe, a high-efficiency magnetic bearing chillers air-conditioning system, gas-fired condensing boilers, lighting systems and other services.

Pritchard said ANZ needed more space, so it negotiated with some tenants to lease space in other Precinct blocks, freeing up floor areas. The building work was carried out while other tenants remained, making the work extremely challenging.

More than 2000 people work in the 39-level tower. The building upgrade won the Property Council's top award this month.

Precinct's portfolio is now valued at $1.64 billion. Precinct shares closed down half a cent yesterday at $1.03.

- NZ Herald

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