Primeproperty Group

What Primeproperty Group does

Primeproperty Group is a privately-held New Zealand commercial real estate investment and management company headquartered in Wellington, established in 1993 and operating for over 30 years. The company owns and manages a diversified property portfolio spanning large-format commercial offices, serviced offices, retail storefronts, industrial sites, residential developments (via the Prime Living sub-brand), and car parks across five cities: Wellington, Auckland, Hamilton, New Plymouth, and Christchurch. The Wellington portfolio alone comprises 17+ CBD office buildings on streets including Brandon, The Terrace, Manners, Lambton Quay, and Featherston, anchored by marquee assets such as 10 Brandon Street (12,000m2 over 16 floors) and the under-redevelopment 13-27 Manners Street (9,500m2 over 14 floors).

Core products include long-term commercial office leases (subscription pricing, custom quote-based), fully serviced short-term offices with all-inclusive amenities at $500-$5,500+GST monthly tiers, retail and industrial leases, freehold car park sales ($60K-$110K per bay), and customised fit-outs delivered through in-house architects and construction teams. The company distinguishes itself through proprietary seismic strengthening technology — most notably a viscous damper system at 13-27 Manners Street with 90 dampers of 200-ton capacity each, achieving a 130% NBS rating that exceeds the New Zealand Building Standard — and through sustainability leadership evidenced by 5.5 Green Star ratings, NABERS 5-star efficiency targets, and 50-75% embodied carbon savings via refurbishment versus new-build approaches.

The revenue model is predominantly subscription-recurring through long-term leases across all asset classes, supplemented by professional services revenue from fit-outs and one-time license revenue from Prime Living residential sales and car park freehold disposals. The go-to-market is enterprise field sales organised by region (Andrew Monahan for Wellington large office leasing, Richard Tait for Upper North Island, Matt Spence for serviced offices), with marketing primarily via company website listings, LinkedIn presence, and direct enquiry forms. Customer base spans hundreds of tenants across commercial, small business, and government/crown sectors — the latter including ACC, the Human Rights Commission, Taumata Arowai, and the University of Otago. Headcount is lean at 11-50 employees, consistent with outsourced facilities management. No public revenue or financials are disclosed.

Name

Primeproperty Group

Legal name

Primeproperty Group

Website

https://primeproperty.co.nz

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Primeproperty Group is a privately-held New Zealand commercial property investment and management company owning and operating a diversified portfolio of CBD office towers, serviced offices, retail, industrial, and residential (Prime Living) assets across Wellington, Auckland, Hamilton, New Plymouth, and Christchurch, serving hundreds of commercial, small-business, and government/crown tenants.

Ownership category

akta.pro rank

Headquarters

HQ city

Wellington

HQ country

New Zealand

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Office Leasing: Long-term leasing of commercial office space across Wellington, Auckland, Hamilton, New Plymouth, and Christchurch. Portfolio includes large office buildings and flexible serviced offices.
2. Serviced Office Leasing: Flexible rental plans for small businesses with spaces ranging from individual offices to small team arrangements. Includes amenities such as WiFi, heating, power, meeting rooms, and kitchen access.
3. Car Park Leasing and Sales: Hundreds of car parks across Wellington office buildings and dedicated car parking buildings. Also sells car park bays at various Wellington properties.
4. Fit-Out Services: Custom fit-out services for tenants using in-house architects and construction experts. Completed fit-outs for ACC, Human Rights Commission, and Taumata Arowai.
5. Retail Space Leasing: Retail storefront leasing in Wellington CBD office towers and shopping centres in New Plymouth, Auckland, and Hamilton.
6. Industrial Site Leasing: Industrial property leasing including warehousing, manufacturing premises, and development sites in Wellington and Christchurch.
7. Prime Living Residential Development: Greenfield residential developments offering full turnkey home packages in Wellington. Sites in Khandallah, Newlands and Ngaio.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Primeproperty Group is a New Zealand private property investment and management company that owns, leases, and manages a diversified portfolio of commercial office buildings, serviced offices, industrial sites, retail storefronts, and car parks across Wellington, Auckland, Hamilton, New Plymouth, and Christchurch. The company provides long-term office leasing, flexible serviced office rentals with included amenities, custom fit-out services, and operates a residential development sub-brand called Prime Living. It also delivers seismic strengthening, building refurbishment, and tenant services including facilities management, parking, and a private fitness centre.

Product overview

Primeproperty Group operates as a commercial real estate company offering a diversified portfolio of property products and services across New Zealand. The core offering consists of commercial office space leasing (large and flexible), serviced offices, industrial sites, retail space, and car parks for sale. The company also operates Prime Living as a residential development sub-brand. Ancillary services include maintenance and fit-out, tenant parking, and a private fitness centre. Seismic strengthening services are offered as part of the company's commitment to building resilience and sustainability.

Differentiator

Problem solved

Functional benefit

Brands

• Prime Living: Collection of greenfield residential developments offering full turnkey home packages in Wellington, with sites in Khandallah, Newlands and Ngaio.

Products and services

• Commercial Office Space Leasing Long-term leasing of commercial office space in prime CBD locations across five New Zealand cities, targeting medium to large businesses seeking stable, sizable premises.
• Serviced Offices Flexible short-term office rentals ranging from individual offices to small team arrangements, with all-inclusive amenities such as WiFi, heating, cleaning, meeting rooms, 24-hour access, kitchen facilities, and power. Priced from $500 to $5,500+GST per month.
• Industrial Sites Leasing of industrial properties including warehousing, manufacturing premises, and development sites such as the Ex-Unilever site in Petone (5 hectares), Shelly Bay (14,500 sqm), and 75 Main South Road in Christchurch (7ha with 30,247m2 floor space).
• Retail Space Leasing Retail storefront leasing in Wellington CBD office towers and shopping centres in New Plymouth (Centre City Shopping Centre), Auckland (Parnell), and Hamilton (500 Victoria Street).
• Car Parks For Sale Sale of freehold-titled car parking bays at Wellington locations including Mowbray Street, Gilmer Terrace, and Church Street (Sirocco building). Single parks priced $60,000-$80,000+GST and tandem parks at $110,000+GST.
• Prime Living Residential Development

Quantifiable outcome

• Seismic resilience: 130% NBS at Manners Street, 100% NBS at multiple buildings
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Keyway Construction LimitedcoreStrategic or Co-development PartnerStrategic partnership with Keyway Construction Limited, renowned for expertise in seismic strengthening. The partnership enables Primeproperty Group to deliver major seismic upgrade projects across their building portfolio, including collaboration on 12-month design and invasive testing processes.
• Miyamoto New ZealandcoreStrategic or Co-development PartnerEngineering partnership led by Dr. Amir Moshref, Technical Director of Structural at Miyamoto New Zealand, for the 13-27 Manners Street seismic strengthening project. The firm leads the extensive strengthening design process involving three engineering firms.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• CBRE: Global commercial real estate services firm with property management operations across New Zealand. Comparable as a broad incumbent offering property management, leasing, and investment advisory services.
• JLL: Global real estate services firm operating in New Zealand. Comparable as a property management and leasing provider competing for institutional-grade commercial real estate mandates.
• Colliers International: Global real estate services firm with significant New Zealand property management operations. Comparable as a property management and leasing service provider, though offering a broader investment sales and advisory platform.

Regional players

• Bayleys Real Estate: Major New Zealand-owned real estate agency with commercial leasing and property management across the country. Comparable for commercial leasing services and tenant relationships, though more diversified across residential and rural.

Direct peers

• Precinct Properties: NZX-listed commercial property company with a major Wellington CBD office portfolio including large government-leased buildings. Direct comparable by asset class, geography, and tenant mix (crown agencies, corporates).
• Property for Industry: NZX-listed industrial property specialist. Directly comparable for Primeproperty's industrial leasing segment (Christchurch 30,247m2 site, Petone industrial assets) and industrial tenant relationships.
• Goodman Property Trust: NZX-listed industrial and business park property owner. Comparable industrial property focus and similar tenant profile of logistics and manufacturing occupiers across New Zealand.
• Argosy Property: NZX-listed diversified property investor with industrial and commercial assets across New Zealand. Comparable multi-sector portfolio strategy and tenant base, with longer track record and capital markets access.
• Stride Property Group: NZX-listed diversified property investor with commercial and retail assets across New Zealand. Comparable diversified portfolio strategy and active property management approach.
• Kiwi Property Group: NZX-listed retail and commercial property owner/manager. Comparable in offering mixed-use and retail-adjacent assets across NZ, with similar tenant relationships and active leasing operations.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/primeproperty-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Primeproperty Group