A sector-specific fund which owns quality office properties in main metropolitan areas across New Zealand. The fund offers excellent capital growth potential through proactive building refurbishment and strategic leasing.
The Fund includes properties with impressive sustainability credentials, including a 5.5 Star NABERSNZ Energy rating – the highest rating across
PMG’s portfolio.
*Data as at 31 December 2024. Past performance is not an indicator of future results
$133m
Total portfolio value
86%*
Portfolio occupancy
*Reflective of the two floors strategically surrendered at the Tuam Street Property, part of a strategy to improve diversification and
income resilience. A surrender payment compensating the Fund for the vacancy was received as part of the surrender arrangement.
36%
Loan-to-value ratio (Debt/Property value)
5
Properties
21
Tenants
4.0 yrs
Weighted Average Lease Term (WALT)
To target sound, well-located office properties in main metropolitan areas in New Zealand with the opportunity to add value through leasing vacant space and proactive asset management.
To grow a portfolio of quality office properties delivering sustainable cash distribution returns and growth in value over time.
Completed in 2016, 213 Tuam Street is a state-of-the-art A-grade commercial office and retail building.
The property is in Christchurch Central City, located close to transportation hubs, the Christchurch Stadium and a new residential development precinct.
Strategically located in the heart of Auckland’s Central Business District, 152 Fanshawe Street is a premium office building designed by the renowned firm Architectus. Positioned on a prominent corner along one of Auckland’s busiest arterial routes, it is only a five-minute walk from the waterfront.
Acquired by PMG Direct Office Fund in 2021, 152 Fanshawe Street is part of our commitment to sustainability and operational excellence. Our initiatives aimed to improve energy efficiency, align with evolving environmental standards, and meet the expectations of forward-thinking tenants while preparing for future regulations.
A landmark office asset in Wellington, 161 Victoria Street is jointly owned by PMG Direct Office Fund (40%) and 161 Victoria LP (60%). Fully leased to Toka Tu Ake - Natural Hazards Commission, this freehold property provides strong investment security and long-term returns.
The Property was constructed in 2023 and forms part of Phase 3 of Willis Bond’s master planned, mixed-use ‘Cuba Precinct’ development.
Being base-isolated, the Property is expected to have a high level of seismic resilience comparable to the likes of the well-engineered Te Papa, Wellington Regional Hospital, and the Wellington Police Station.
High-profile government tenant: Fully leased to Toka Tu Ake - Natural Hazards Commission
Innovative design: Innovative base-isolated design
Strategic location: Positioned in Wellington’s thriving, fast-growing city centre
Sustainability features: 5 Green Star Design & Built, EV charging, waste management
The property is in the popular southern corridor area of Ellerslie in Auckland, with the train station only approximately 100 metres away.
Built in 2003, the four-level commercial office building features ample underground parking and is occupied by two Government tenants (Ministry of Justice and Ministry of Social Development).
410 Victoria Street is located on a prominent corner site on Victoria and Alma Streets in Hamilton. The property is close to central amenities and is next door to the Novotel Hotel.
Built in 1983, the four-level building has retail space on the ground floor and three levels of office space.
With a range of investment funds to suit New Zealanders of all ages and stages, it's easier than you may think to invest. Give one of our knowledgeable pmg Investor Relationships Managers a call for a no-obligation chat, or visit our FAQ page.
To start investing with PMG, register your contact details via phone or email. Alternatively, make an enquiry via our contact form and we’ll have someone from our Investment Relationships Team meet you.
Watch PMG’s history video to learn more about our approach to commercial property investments, along with the five funds within the company. We encourage you to speak with a friend or family member who knows us, and we also recommend you chat with a Financial Advice Provider for specific advice to suit your unique situation.
Look through our current investment offers to find the right PMG fund to suit you. After downloading, carefully review the associated Product Disclosure Statement(s) for the offer(s) you’re interested in. Investing with us is straightforward – either apply online using our secure and confidential investor portal, via the printable form on each fund page, or reach out to your local PMG office to fill out the relevant paperwork.
Our lines of communication are always open. If you have any questions, reach out to your local PMG Investor Relationships Manager. Whether it’s a general catch up or discussion around the latest developments with your investment, we’re here to help.
