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.
END
For further information
please contact
Mr,Richard Yan
Chief Executive
Officer
Richina Pacific Limited Telephone 09-375
2188
A RICHINA GROUP COMPANY
Representative for
Lucent Technologies NZ
Mr John Cameron
Managing
Director
Jones Lang LaSalle Advisory Limited
PO Box
4536
Auckland
Telephone 09-358 3688
Issued on
behalf of Richina Pacific by Dennis Lynch, Network
Communications
Telephone 09-379 3154
2
A RICHINA
GROUP
COMPANY