Spark vacancy expected to jolt corporate tenant interest
This Spark City Building B at 167 Victoria St will become available for lease next year.
One of the four buildings in the Spark City office complex in central Auckland will become available for occupation from the middle of next year at the expiry of a short term lease to Television New Zealand.
Paul Hain and Paul Dixon of Bayleys have been appointed as master agents to re-lease Building B at 167 Victoria Street West, which encompasses eight floors of office space totalling 6316 sq m plus 73 basement car parks.
Hain says this is likely to be the largest amount of prime office space available for lease in the CBD when TVNZ vacates by the end of June, 2016.
“There is limited new office construction taking place at present and developments that are being undertaken, such as Mansons’ nearly completed building at 151 Victoria Street and Goodman’s development on the Fonterra site opposite Victoria Park, already have strong tenant take up or interest,” says Hain. “By this time next year, we would expect those complexes to be largely if not completely full up. After that there will be a long wait until the first of a number of proposed new high rise office tower are completed which is unlikely to be before the end of 2018.
“This release of Building B is therefore very timely and provides an opportunity for businesses that have tenancies expiring next year to move into one of Auckland’s premier office buildings at a very competitive rental compared with a new build,” says Hain. “We are giving the market plenty of notice of its availability so interested tenants can plan well ahead. It will also give businesses that are looking to upgrade, but have existing lease commitments, time to investigate sub tenancy options on their current premises.”
Dixon says the building’s owner will consider either a single or dual tenancy to replace TVNZ. Conceptual plans have been drawn up for a split tenancy with separate entrances for each tenant. Signage and naming rights are also available.
The building is part of a premium grade, campus-style office development encompassing four interconnected buildings, each configured and engineered as separate towers. The complex was built by Mansons TCLM Ltd for New Zealand’s largest telecommunications company – then Telecom New Zealand – and completed in 2010.
When Telecom’s network infrastructure division was split off into a separate NZX listed company, Chorus, Building B became surplus to Telecom’s requirements and was leased to TVNZ in 2013. It has temporarily relocated 500 of its staff while a major redesign and refurbishment of its main building at 100 Victoria St is being undertaken. Spark NZ (formerly Telecom) continues to occupy the other three buildings over which it renewed its lease for a further 10 years in mid 2014.
Interior of Spark City Building B at 167 Victoria St. ‘The buildings link to a striking internal plaza and atrium which create a spectacular foyer’.
Hain says Telecom required Mansons to engineer the development to support an accommodation model of 10 sq m per person on all floors and to attain a five green star design and build certification. “Fresh air volumes, heating and cooling capacities, toilet ratios, electrical capacity and fire systems have all been designed above normal specifications to cater for such a high intensity of people as well as secure the required green star rating.
“Understandably given its leadership position in the telecommunications industry, Telecom took the opportunity to implement best-in-class IT systems in the complex. The towers are fed with dual fibre connectivity and dual copper links. There is an in-building mobile system, in effect a mini cell site across all floors to ensure mobile calls are not lost within the building, and polycom video conferencing can be used in many meeting rooms”
Four of BuildingB’s floors provide just over 1000 sq m of office space with the top floor comprising 725 sq m. The ground floor of 752 sq m encompasses the building’s main entry from Harding St and currently comprises a reception area, client meeting room and office accommodation. A level below has 565 sq m of training and meeting rooms with access to the main central podium and there is secure car parking for 73 vehicles, a bike park plus 19 sq m of storage in the basement.
Hain says Spark City is one of the most modern and highly specified office building complexes in New Zealand and has an A-plus seismic assessment, with a rating of over 100 per cent of New Building Standard (NBS).
“The majority of the office floors are column free and provide excellent levels of natural light. The buildings link to a striking internal plaza and atrium which create a spectacular foyer and meeting point for staff and clients and also offers cafes and eateries.
“The location is within easy reach of major public transport and motorway links, the city centre, the waterfront and Victoria Park, with high quality amenities on-site and nearby, including a Les Mills gym across the road."
Paul Hain (left), and Paul Dixon of Bayleys of (right).