AMP NZ Office Trust elects not to proceed with ASB Bank Centre acquisitionJune 13, 2003 AMP NZ Office Trust (ANZO) will not be proceeding further with its conditional contract to acquire the ASB Bank Centre in Auckland. ANZO was required under the NZX Listing Rules to announce last month that it had entered into a conditional contract to purchase the landmark Auckland office tower. The contract was subject to a number of conditions including physical and contractual due diligence. After completing due diligence, the Board of ANZO’s manager, AMP Henderson Global Investors, has determined that ANZO should not proceed with the purchase of the ASB Bank Centre at this time. ANZO is a unit trust listed on the New Zealand Exchange which invests predominantly in prime CBD office properties in major New Zealand cities. It owns seven of New Zealand’s premium office buildings with a total value of more than $555 million – Auckland’s PricewaterhouseCoopers Tower, ANZ Centre, IAG House and Quay Tower; and Wellington’s HP Tower, 125 The Terrace and No. 1 The Terrace. The joint owners of the ASB Bank Centre, ASB Bank - which owns 60 percent and leases 15 levels - and the unlisted AMP Property Portfolio have advised that they will now begin an international marketing campaign to sell the property. Media inquiries: |