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Shortland Street proves good address for Capital Properties

By Phil Boeyen, ShareChat Business News Editor

Tuesday 26th September 2000

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Listed property company Capital Properties New Zealand says a new lease at its Shortland Centre Tower II in Auckland shows the increasing popularity of the area.

The company says it has signed an agreement with tenant Morrison Kent for a new six year lease of just over 1,000 square metres in Shortland Centre Tower II. Morrison Kent is relocating from Quay Tower in Auckland take over space previously occupied by Lion Nathan.

Capital Properties says the building is a good quality office tower in the heart of Auckland's commercial business district.

It says the area has become a popular address for many of Auckland's professional firms in recent times, and a number of additional new leasings in the building are currently being negotiated.

The company has also agreed to a new six year lease with the New Zealand Defence Force for three and a half floors in its Freyberg Building in Wellington starting in November, which it says also confirms the improving demand in the Wellington market.

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