Monday 22nd July 2013
|Text too small?|
Precinct Properties New Zealand, which counts its 10 office towers in Wellington's central business district as 40 percent of its $1.6 billion portfolio, says it has suffered no major damage from yesterday's 6.5 magnitude earthquake.
The city was shaken by the quake at 5.09 pm yesterday, the peak of a swarm of earthquakes centred off the coast of the upper South Island near Seddon. Authorities have advised workers in Wellington's CBD to stay at home pending building checks after glass and rubble was sent falling into the streets and commuter train services were halted.
Precinct said it has hired seismic engineers Holmes Consulting Group to begin structural assessments of its buildings starting today. It had previously used the firm in 2011 to assess the seismic strength of its buildings.
"A further update on the outcome of the inspections will be provided as information becomes available," Precinct said.
Shares of Precinct were last at $1.07 on Friday and have gained 8.1 percent this year.
NOTE: please be advised to read full articles from Business Desk Website, you will have to pay a subscription fee on their website.
No comments yet
Precinct Properties boosts full-year earnings on acquisitions, higher rental income
Precinct buys Queen St's HSBC Tower for $103M, signals funding review
Precinct first-half operating income falls 1.5 percent as costs rise
Precinct Properties NZ misses out on first round of govt property review