CBD tower floors expected to lease fast

Only five full floors remain for lease within a newly-refurbished 13-level building in the Auckland central business district, previously known as the Tower building, at 22 Fanshawe St.

“An extreme shortage of A-grade office space in the CBD has generated a lot of inquiries for this building,” says Sam Gallaugher of Colliers International who, with colleague Matt Lamb, is marketing the office space for lease on behalf of owner TEL Nominees Ltd, a fund that has been investing in commercial property for more than 20 years.

Gallaugher says office space is being taken up quickly with tenants attracted to the building’s prime location near the Viaduct.

“Other drawcards are its ‘as-new’ presentation, state-of-the-art facilities and the building’s spectacular uninterrupted views across the harbour.”

The office floors have been installed with new ceilings, energy efficient lighting, carpet, and refurbished bathrooms and have also been repainted.

“There are also new bathrooms on each level and a new entry foyer with a cafe and green wall, providing a fresh and upmarket public space,” Gallaugher says.

The office floors are column-free and each floor can be split to accommodate two tenancies of 300 sq m, with Levels 11 and Level 12 having outdoor decks. The building also has secure access, an A-grade seismic rating and 66 car parks.

Leases confirmed to date include the top three floors plus naming rights to a media company Group M ; Level nine to recruitment firm Robert Walters; Level seven to a data analytics business; and most of Level four to  Technology Company, F5.

The building is positioned on the corner of Fanshawe, Federal and Wolfe Streets, directly opposite the Downtown Car Park and close to the Viaduct and North Wharf,
Lamb says the significant internal rebuilding was finished in the first quarter of this year and has created attractively-priced, high-quality office space within a modern working environment.

“The building was stripped back internally and has been completely refurbished into superior office space that is ideal for businesses seeking the profile of a CBD location, with high end interior design and efficient building operations.”

Lamb says the office space is on offer at competitive rentals. “This is a very compelling option for businesses located in the suburbs which aspire to move to the central city and attain the prestige that a CBD address offers.

“With prime office vacancy in the Auckland central business district at just  1.1 per cent, according to Colliers International’s latest research, the building adds much-needed quality office space to the market,” he says.

“There are very few opportunities for larger companies to secure contiguous A-grade office space in the core CBD at present, so this building helps address a sector of the market which is facing the pressures of extremely high demand and scarce supply.”

Gallaugher says there are many other benefits of the location that can help businesses attract and retain staff.

The immediate vicinity around the building is home to several cafes and restaurants including the popular Federal & Wolfe café. The Viaduct also has many popular bars and eateries just a couple of minutes’ walk away.

“The location is very well served by public transport, with multiple bus stops, the Britomart train station and ferry terminal within five minutes’ walk,” Gallaugher says.

“Several gyms are close by, along with the Tepid Baths, Victoria Park, shopping, banks, hotels, bars and restaurants – providing amenities that are unmatched in the suburbs.”

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