Auckland office sector focused on the future

Annual ColliersLEASE publication released

World-leading green design and the sustainable refurbishment of older buildings are among the key themes shaping Auckland’s office market in 2019, according to a newly published overview of the sector.

Colliers International’s annual ColliersLEASE publication features the newest Auckland CBD and metropolitan office leasing opportunities, alongside articles across a range of future-focused themes.

Matt Lamb, Auckland Leasing Director at Colliers, says there’s no doubt that sustainable building continues to be one of the most important issues within the fast-growing city’s office sector in 2019.

“Developers, landlords and tenants are increasingly aware of the need to offset the environmental impacts of their premises, especially given the huge demand for more quality office space as Auckland continues to grow.

“As we see some incredible changes being made to not only our skyline, but to the city as we know it, we are witnessing new builds and upgrades that will benchmark the future of office space.”

Lamb says one approach to sustainability is to include it as a guiding principle from the inception of a new project, as highlighted by Mansons TCLM’s established track record of delivering quality green office buildings.

“Mansons developed the first two Green Star-certified office buildings in Auckland and has targeted top-tier Green Star ratings in all its office developments since 2007.

“The family-owned company has now completed or is building a total of 14 Green Star commercial buildings, comprising over 185,000sq m of gross floor area – more than any other company in New Zealand.”

Mansons TCLM’s most ambitious project to date is at 155 Fanshawe Street, a 15,500sq m office building over seven floors which is due for completion in June 2020. The company is targeting a 6 Green Star rating – the highest available, equating to world leadership in sustainable development.

The building will be home to Kiwibank’s Auckland headquarters and health insurer Southern Cross. The leases were brokered by Colliers International, which also transacted the sale of the building for more than $247 million to an offshore superannuation fund.

Precinct Properties is also committed to sustainability, targeting a 5 Green Star rating for its flagship office project. PwC Tower at Commercial Bay will utilise rainwater harvesting to supplement the cooling tower’s water supply; heat recovery and integrated software management systems for the hot and cold water; and extensive end-of-trip facilities.

Sam Gallaugher, Auckland Leasing Director at Colliers, says another approach to sustainability is to refurbish existing office buildings.

“The adaptive reuse of an older building produces a lower environmental impact than a new build, while delivering the same level of quality, contemporary design and modern amenities.

“Bledisloe Property Group is one company that has achieved great success with this approach and is continuing to deliver new projects that provide premium office space with a reduced environmental footprint.”

Bledisloe undertook the restoration of 85 Fort Street in Auckland’s CBD into an award-winning office space. Celebrated for combining modern functionality with heritage architecture from the early 1900s and 1960s, the project was awarded the Hawkins Heritage and Adaptive Reuses Property Award.

Bledisloe’s next project is 33 Federal Street, which involves the refurbishment and repositioning of a 1980s office building on a 1,005sq m corner site on Federal Square in Auckland’s CBD.

The company has invested significant capital in modernising the existing services while also adding energy efficient solutions. The result will be a premium boutique downtown office with a new lobby, plaza and cafe.

As Auckland’s offices become more sustainable, so too do the ways we get around the city.

Viv Beck, Chief Executive of Heart of the City, points out in a ColliersLEASE article that more people are coming into Auckland’s CBD by public transport than by car for the first time since the 1950s.

“This is a fascinating time in the city centre, with change occurring in how the city looks, the people spending time in it and how we do things.

“When the City Rail Link starts operating, it will transform access to the city centre, carrying an estimated 54,000 peak-time passengers each hour and doubling the number of people within a 30-minute commute of the city centre.

“Change is happening quickly – whether it’s the list of premium hotels opening this year or new technology providing easy, environmentally friendly ways to get around (just look at the uptake of e-scooters), the city centre is the place to be for businesses wanting to be part of this evolution.”

Alongside these insights, the new ColliersLEASE publication has a range of in-depth articles on the office leasing sector, including:

  • The biggest leasing mistake to avoid, as outlined by Chris Dibble, Research and Communications Director at Colliers;
  • A peek inside Mercury’s stunning new offices at 33 Broadway, Newmarket, and the inside story on how the project came about, and;
  • The latest updates on Precinct’s game-changing Commercial Bay development.
Email tyler.handcock@colliers.com to request your complimentary copy of ColliersLEASE.

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