Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Richina Pacific Mobil On The Park Leasing

Richina Pacific Mobil On The Park Leasing For Lucent

Richina Pacific has leased two floors (2000 m2) and given an option over a third to Lucent Technologies NZ in the central Wellington office tower Mobil on the Park.

The 25 level tower is Wellington's newest and occupies a whole city block fronting Lambton Quay in the heart of the Capital's central business district.

It is regarded by many as the superior office tower development in Wellington.
Mobil on the Park has attracted an impressive list of tenants. It was first occupied on its completion in 1998 by anchor tenant Mobil, who took five floors. In 1999 Russell McVeagh occupied five floors and WestpacTrust two floors. Separate subleases are held by Salomon Smith Barney and Synergy.

Richard Yan, CEO of Richina Pacific, said the latest lease effectively completed the leasing of the tower. "Once we lease level four in the refurbished character space that forms the Podium to the Tower (which is currently under negotiation), the building will be fully let."

"The Lucent lease will substantially reduce the vacancy factor in the prime category buildings in Wellington, which in turn will reflect in rental growth and increased value.

"The Lucent lease is for nine years, including two three-year rights of renewal.

"The lease is at market rate for superior space, and will allow for some future growth in rental levels at renewing" said Mr Yan.


For further information please contact
Mr,Richard Yan
Chief Executive Officer
Richina Pacific Limited Telephone 09-375 2188

Representative for Lucent Technologies NZ
Mr John Cameron
Managing Director
Jones Lang LaSalle Advisory Limited
PO Box 4536
Telephone 09-358 3688
Issued on behalf of Richina Pacific by Dennis Lynch, Network Communications
Telephone 09-379 3154


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>