Trade & enterprise signs for the majestic centre
Wednesday 6 October 2004
Press Release: Kiwi Income Property Trust
By The LandlordKiwi Income Property Trust advised today that it has signed a lease with New Zealand Trade & Enterprise (NZTE) for 3,000m2 in its landmark Wellington office building, The Majestic Centre.
NZTE will become the first New Zealand government tenant in the building, a New Zealand architectural icon and one of Wellington's highest quality CBD office buildings.
NZTE will occupy two floors and part of two others and will join, among other tenants, Ernst & Young, Opus Consulting, IBM, and the Embassy of Japan. The office space is now 93% occupied, with strong interest in the remaining available space. Commercial Portfolio Manager for the Manager of the Trust, Jon Lesquereux, said the signing of NZTE as a major, long-term tenant underscored the fundamental value of the building.
"The Majestic Centre is one of New Zealand's great office buildings, favoured by corporate tenants for its scale, international quality specifications, unique architectural characteristics and accessibility to the city. Its ability to attract and accommodate a Crown entity with a commercial focus is testimony to its quality and value."
Mr Lesquereux said the signing of NZTE coincides with the current upgrade of the building's lobby, which will incorporate an espresso bar and meeting area, and the refurbishment of the gymnasium.
NZTE's lease will commence from 1 May 2005.
Commenting is closed
It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.