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Asset Plus


Under Centuria’s management, Asset Plus has focused on a Yield Plus Growth investment strategy, targeting long term total returns that are greater than the benchmark return threshold detailed by the NZX Property Sector Index through value add and active management initiatives.

Centuria externally manage Asset Plus, report to the Asset Plus Board and provide shared service functions. Centuria are also the largest shareholder in Asset Plus, with a 19.99% stake in the company ensuring a vested interest in the performance of the company, and alignment of interest between management and shareholders.

Since taking over management of Asset Plus in 2018 (formerly NPT) Centuria divested  all non-core assets and secured a material value add opportunity in the Munroe Lane development which was successfully completed in mid-2023. The 35 Graham Street property was also acquired for a transformative development however the change in market conditions has now led to an unconditional sale with settlement in November 2024.


Strategic investments, acquisitions and divestments

The Company targets superior, risk-adjusted returns, in keeping with its Yield Plus Growth investment strategy, through the:

  • Careful selection of assets that are higher-yielding or have the potential to be high yielding
  • The astute judgement of risks
  • Application of intense asset management, and avoidance of hotly contested, lower-yielding, premium assets.

Our investment goal is to target long-term total returns greater than the benchmark
return threshold detailed by the NZX Property Sector Index while maintaining a
strong balance sheet to ensure Asset Plus is always poised to take advantage of
emerging opportunity.

Centuria adopts an active management philosophy encompassing asset and financial management, strategic investments, acquisitions & divestments, and the judicious development of new and existing assets.


Asset Plus currently holds two Auckland office properties, one of which is unconditionally sold and due to settle in November 2024. We are a long-term property investor, not a developer. For this reason, we ensure our new buildings incorporate high quality design, durable materials, and sustainability. Our focus is on delivering buildings that drive optimal utilisation of space, employee productivity, building efficiency, and greater workplace satisfaction.

Centuria have significant in-house capabilities and experience to deliver world-class commercial office, industrial, residential and tourism developments. From development management to asset management, the team employ a client-focused approach with our tenants and stakeholders. This understanding is the foundation of respectful and transparent relationships allowing us to support our clients in their success. Asset Plus has an experienced and nimble asset management team with property & facilities supported by experienced provider Bayleys Property Services. We treat tenants as partners in our assets and understand that we must continually evolve the spaces we manage to meet the changing needs of our clients. 


Please use the contact details below for any
general or leasing enquiries.