Precinct Properties Acquires Coworking Operator Generator 

Exciting news has been announced today as city-centre property specialists, Precinct Properties, have now acquired the remaining 50 per cent shares in leading coworking operator Generator, making Precinct the sole-owner of the coworking company.

"The Precinct acquisition is exciting news for the business as it means that Generator moves into a new era, able to expand into new cities and new services, with the backing of one of New Zealand's largest listed property companies," says Ryan Wilson, Founder of Generator.

The acquisition will see Ryan Wilson exit the business he founded in 2011 in fantastic shape, as the coworking operator makes up 60 per cent market share of total coworking space in Auckland City, following rapid growth in recent years as Generator now covers 12,600 sqm of shared space. 

Precinct's CEO, Scott Pritchard, says the strategic acquisition is a fantastic opportunity for the company to expand further into the fast-growing flexible space market. "Generator allows us to provide flexible office space and meeting and events solutions to a broad range of New Zealand businesses, while maintaining our reputation for providing high-end, world class city-centre office spaces."

Wilson says that running Generator has been an incredible journey, from opening the doors in 2011 with 32 members, to today's community of over 1,200 members across its five Auckland City locations. Now Generator is home to rapidly growing Kiwi businesses as well as the likes of global super-brands such as Facebook, Salesforce, Spark and Getty Images. 

"I'm proud to leave Generator in great heart and recognise that the time is right to step aside and entrust the business to someone with a fresh vision and different perspective," concludes Wilson. 

This is an exciting time for Auckland's coworking scene, and we are thrilled to see what the future brings for shared workspace. 

To view Generator's available coworking spaces, check out their listings below:

• Generator Stanbeth House
• Generator Excelsior House
• Generator Britomart Place
• Generator Madden Street
• Generator Mason Brothers