Scoop has an Ethical Paywall
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.”
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
