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Wellington loses 11 per cent of offices

NZ Newswire logoNZ Newswire 7/12/2016

The Kaikoura earthquake has resulted in Wellington losing 11 per cent of its office space, according to a real estate research company.

Sixteen CBD buildings housing 50 businesses were closed following the November 14 magnitude-quake - hitting the city's 167,300sq m of available office spaces, says CBRE.

Nearly 50 per cent of the affected floor space was considered a prime quality.

Some buildings would be out of action for a few weeks but others for more than six months.

"Over the past three weeks, there has been a flurry of activity as large occupiers attempt to find accommodation while their building is being closed." said CBRE head of research Zoltan Moricz.

Both BNZ House and Statistics House, on the waterfront, had been badly hit by the quake, but 60 per cent of the floor space had been found in other buildings.

The largest amount of floor space, 33,500sq m, had been lost in the Asteron Centre opposite the train station, which house IRD staff.

However, it was expected to be reopened before Christmas.

The largest relocation was Defence Force staff moving from Freyberg House moving to Ministry of Health offices.

BNZ staff had been moved to six different locations.

One builiding, 61 Molesworth Street, is already being demolished because it is so badly damaged but because it didn't have office tenants no relocations were needed.

Wellington's quake-closed buildings:

* Asteron Centre - 33,500sq m

* BNZ Building - 20,400sq m

* Defence House - 18,000sq m

* Customs Building - 7000sq m

* NZ Post House - 22,000sq m

* Deloitte House - 12,000sq m

* Statistics House - 9800sq m

* Lambton House - 8400sq m

* Environment House - 7000sq m

* Revera House - 5200sq m

* GWRC Building - 4600sq m

* Outwide House - 3800sqm

* 61 Molesworth St - 5000sq m

* NZ Rugby House (cordon) - 6500sq m

* Master Builders Building (cordon) - 2600sq m

* Red Cross Building (cordon) - 1500sq m

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