Reserve Bank Building a chance to occupy large quality space

Five large office floors in the Reserve Bank of New Zealand (RBNZ) building, across the road from Parliament in central Wellington, are becoming available for lease. 

The 915m2 floors in the landmark 14-level building at 2 The Terrace are being marketed for lease by Phil Humphrey of Colliers International.

The opportunity to occupy space in an iconic building in the heart of Wellington’s corporate and government precinct is expected to be of interest to a range of substantial office occupiers, says Humphrey.

“This is a prestigious address in a landmark building at the northern end of The Terrace. It offers impressive views overlooking Parliament and the harbour, as well as a location in a highly desirable part of Wellington’s CBD.”

The building provides a very high level of seismic strength, with engineers having confirmed that it achieves 100% of new building standard (NBS) at importance level 3 (IL3). 

This is equivalent to 130% NBS at the normal lower IL2 commercial office standard – placing it in an exclusive group of 100% IL3 buildings, Humphrey says.

“Large government and corporate tenants generally demand between 70% and 100% NBS, and seismic strength has become even more important to businesses in light of the recent 7.8 quake.”

It also has 100% backup power capability from standby diesel generators, which can support the entire building’s power load indefinitely.

“This building’s levels of seismic resilience and power backup are offered by few other Wellington buildings. They will be considered highly desirable characteristics among tenants,” says Humphrey.

The floors will be refurbished and made available in two stages: levels three, five and six in mid-2017 and levels 10 and 11 at the beginning of 2019. This follows a RBNZ workspace efficiency project, as well as the departure of the State Services Commission as a result of the Wellington Accommodation Project (WAP2).

“The RBNZ has re-designed its office space to become more efficient, along the lines of the recent moves by central government to improve efficiency in its use of property,” Humphrey says. “The building is owned and managed by RBNZ, which has committed to a major internal refurbishment project, so it makes good commercial sense to optimise its own asset.”

Flexibility is offered for tenants to occupy part of a floor, as well as taking a whole floor or multiple floors depending on their size and space requirements.  “The office space will be newly refurbished, modern and high quality. For tenants occupying an entire floor, there is ample space for a variety of design and layout configurations.”

The building also provides a concierge service, security and a shared tenant space offering brand new shower facilities and bike storage. 

It is located close to rail and bus transport, as well as hotels including the Bolton, Sofitel and Park Hotel. Several cafes, restaurants and shops are also in the immediate area. 

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