PMG Funds Acquires New 5 Green Star-Rated Wellington Office Building 161 Victoria Street

Tauranga-based commercial property fund manager, PMG Funds, has added to its nationwide  portfolio with the purchase of the new Willis Bond-developed 161 Victoria Street in Wellington’s  vibrant Cuba Quarter. 

While falling interest rates have provided a clear signal that we are at or around the bottom of  this market cycle, PMG Chief Executive Scott McKenzie says that the once-in-a-decade  opportunity to invest at good value, for the long-term, remains available for well-positioned  purchasers. 

“By retaining the agility to stay active through the high-interest rate environment, we’ve been  able to strategically acquire quality property, at good value in what is a soft market, that we  otherwise may not been able to get access to. We believe acquiring this prime office asset at  this point in the cycle provides our investors exposure to the prospect of sustainable income growth over the years ahead,” says McKenzie 

The four-storey office property has been built with 100% base isolated seismic resistance – providing a level of structural integrity that is highly sought after by occupiers in the Capital.  

Fully-leased, with anchor tenants The Earthquake Commission (EQC) and Tonkin & Taylor, it also has a 5 Green Star rating. 

McKenzie says that the property’s seismic and environmental qualities reflect the clear alignment between PMG’s investment and sustainability strategies. 

“Sustainability doesn’t just make common sense, it makes financial sense, providing better outcomes for everyone.” 

“Today’s tenants demand and deserve the right to feel safe at work and to minimise their carbon footprint through their working environment. Throughout our portfolio we look to  facilitate this, firstly by providing our tenants with quality buildings and then by creating  meaningful partnerships with them through our award-winning property management team that  ultimately support reliable, regular returns for our investors.”

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