Precinct Properties chief executive Scott Pritchard has been retained as chief executive as the company decides to internalise its management. Leading inner city office developer and landlord Precinct Properties is buying out the management contract of the company for $215 million. Precinct announced today that it had reached agreement with the manager, AMP Haumi Management (AHML), to terminate the Management Services Agreement and internalise the management of Precinct. READ MORE:* Rebound in property values for leading inner city property developer Precinct Properties* Precinct Properties says bulk of tenants back in their offices despite debates over flexible working* Two new earthquake-resilient buildings costing $160 million announced for Wellington“Since listing in 1997 Precinct has continued to evolve through a changing market, to become one of New Zealand’s leading listed property businesses,” Craig Stobo, independent chairman of Precinct said. Scott Pritchard, George Crawford and Richard Hilder had been retained as chief executive, deputy chief executive and chief financial officer respectively under new employment agreements with Precinct.

Source: Stuff March 28, 2021 21:33 UTC