ANZO advises due diligence process underway for Wellington buildingAugust 12, 2005 AMP NZ Office Trust (ANZO) today has advised the NZX that it has entered into a conditional contract to purchase a property located in the Wellington government precinct. The property is predominantly tenanted by the public sector, has a WALT (weighted average lease term) of more than four years, is 100 percent occupied and on the basis of current contract rentals is anticipated to return a yield of slightly more than nine percent on the proposed purchase price of approximately $30 million. Subject to the satisfactory completion of due diligence, the purchase of the property is expected to go unconditional on 15 September, 2005, at which time further information will be made available. Proposed settlement is on 7 October 2005. This announcement is made in accordance with ANZO's disclosure obligations under the NZX listing rules and in connection with the Unit Purchase Plan (advised earlier this year and confirmed last week). ANZO is managed by AMP Multiplex Management Limited. About ANZOANZO is New Zealand’s largest listed investor in premium and A-grade commercial office property. A unit trust listed on the New Zealand Exchange, ANZO currently owns 10 New Zealand office buildings with a total gross value of more than $842 million – Auckland’s PricewaterhouseCoopers Tower, ANZ Centre, IAG House and Quay Tower; and Wellington’s State Insurance Tower, Mobil on the Park, HP Tower, 125 The Terrace, No. 1 and 3 The Terrace and Pastoral House. Contact: Robert Lang |