PHOTO: SUPPLIED – Scott Pritchard chief executive of Precinct Properties.

The 2016 earthquakes in Wellington have proved the catalyst for a legal dispute between a commercial tenant and a major property landlord.

The former Deloitte Hse in Brandon St has proved a difficult investment for Stock Exchange-listed Precinct Properties which bought it in 2007 for $56 million, but due to earthquake damage is selling it for $10m, with settlement set for August.

At the time of the earthquakes, the tenant on the ninth and 10th floors was oil and gas group OMV, which claimed the building was untenantable and therefore the lease was automatically cancelled.

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