Capital’s PwC Centre wants hospitality tenants
Cafe and restaurant operators are sought to lease spaces within Wellington’s waterfront PwC building, which is depicted in this artist’s impression. Photo / Supplied
Two hospitality businesses are sought as tenants within the new Willis Bond-initiated PwC Centre now being constructed on Wellington’s waterfront.
With the building almost fully-leased, Bayleys Wellington has been assigned as master agent for two ground-floor hospitality areas within the development at Site 10 in the Kumutoto Precinct.
Senior Bayleys’ broker Jim Wana is spearheading a campaign to find suitable businesses for two high-profile tenancies – a 140sq m cafe area which opens onto the main PwC Centre lobby; and a 355sq m restaurant space.
With construction on-track for completion in mid-2018, Wana says the dedicated café and restaurant areas are “blank canvas” opportunities that can be customised to tenant requirements.
He says the building is coming out of the ground with strong upfront commitment from corporate tenants that signals the development is “hitting the spot” with the business community and the PwC Centre offers hospitality tenants a chance to get in early to create bespoke environments for a ready-built client base.
“Globally, it’s the waterfront locations that have the pulling power in the hospitality sector and, while Wellington isn’t Sydney, it has a spectacular harbour that draws people and which is ripe for additional dining options,” he says.
“In other parts of the city there’s evidence that hospitality outlets within corporate environments are thriving and a high-spec new build like this project has pulling power – particularly given its position.
“The design credentials of the PwC Centre look set to attract visionary and bold operators who appreciate location and the opportunity to tap into the resident clientele within the building, along with passing pedestrians and a wider customer base.”
Wana says figures for prospective hospitality tenants to consider include: around 1000 workers based within the PwC building, 3700 workers based in nearby office buildings and about 11,000 people travelling in and out of Wellington’s railway station every week day.
“This is the chance for a proven operator to imprint their brand and style on a space without the constraints of a former fit-out,” he says.
The cafe, which is on the waterfront side of the development, is effectively part of the lobby area of the building and will suit a seasoned independent operator who wants to leverage off an in-house client base.
“Wellington’s coffee culture is legendary, and with so many people working in the building, the coffee machines will be humming,” says Wana.
“Add to the mix visiting clients, team meetings, casual lunches and corporate catering opportunities and a cafe proposition for a savvy operator stacks up very well.”
The larger restaurant tenancy has scope to become a destination dining opportunity and Wana says big name chefs and established local and national operators are on his list to approach.
“A fresh start in new premises is always enticing – particularly when a customised kitchen can be created from scratch,” he says.
“With 355sq m to play with, there’s plenty of room to try out something new and innovative – or to stick with proven layouts and structures for those with a winning formula.”
Wana says that prospective tenants could be pleasantly surprised at the rental rates proposed for the available hospitality spaces.
“Despite the enviable waterfront location, the projected rents are on par with those of inner city cafes and restaurants,” he says.