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

 


Yet-to-be-completed commercial building signs tenant


Yet-to-be-completed commercial building signs up high profile tenant


Auckland’s newest green star office building already has tenants signed up for more than half of its space close to 10 months ahead of completion - with infrastructure company Watercare Services as its anchor tenant.

Watercare Services Limited has entered into an agreement to occupy 5,600 square metres of space in the Nuffield Corporate Centre being constructed by Mansons TCLM at 73 Remuera Road, Newmarket.

The organisation, which is responsible for providing water and wastewater services to the entire Auckland region, will relocate approximately 460 staff from two buildings that it currently occupies in Nuffield Street Newmarket and East Tamaki, to the 5-Star green rated building due for completion in December this year.

Watercare Services will lease the top two floors and part of Level 2 of the 12,796 square metres building for a term of 12 years, with rights of renewal. It will also be provided with185 basement carparks and naming rights on the building.

Bayleys Real Estate’s Paul Hain, who negotiated the lease with Bayleys Auckland colleague Steve Orr, says Mansons will take over Watercare’s unexpired lease and make good obligations in its current premises.

In another recently concluded lease in the same building, negotiated by John Halstead of Bayleys Auckland, Avanti Finance will occupy 1200 square metres of space on the ground floor, also on a 12-year lease with a six-year right of renewal and stepped rental increases of three percent per annum.

Hain says this is one of the first Green Star buildings to be developed in Newmarket and has generated significant tenant interest.

”Being the most active developer of top end office space in the market at present, Manson is well attuned to what larger tenants want,” Mr Hain said.

“In addition to green star ratings or sustainability features, the check list generally also includes big floor footprints of at least 1500 square metres with inter-floor connectivity, bullet proof earthquake ratings to a minimum of 100 percent of new building standard and high floor to ceiling heights.

“This building has big floors areas in excess of 2,000 square metres and a stud height of three metres with floor to ceiling glass on all sides ensuring high levels of natural light penetration.”

The building will also have a secure bicycle park for 42 bikes, changing rooms, showers and locker facilities, an on-site cafe in the ground floor lobby plus a gymnasium.

Paul Hain says level one of the premises is the only full floor now remaining available for lease - which is the largest at 2,958 square metres. The balance of space that Watercare Services is not occupying on Level 2 – totaling 1,430 square metres – is also available along with 940 square metres on the ground floor.

Mansons TCLM director Culum Manson says there is a shortage of good quality office buildings in Newmarket and the Nuffield Corporate Centre is being developed to fill that gap.

“Given its central location and proximity to New Zealand’s premier retail strip of Broadway and the Domain, Newmarket is an attractive place to base a business but much of the office space is in dated buildings with small floor areas,” Mr Manson said.

“We were sufficiently confident that there would be good demand for a building of this quality and size in Newmarket to build it on ‘spec’, and we have been delighted with the strong market response we have had so far.”


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news