Provided by NZX
  • SPK2.73

    $0.0451.65%

  • Open 2.775 High 2.775 Low 2.73 Bid Price 2.73

    Offer Price 2.74 Value 15167781.32 Volume 5507353

Current as of 22/05/15 07:40PM NZST

Anne Gibson

Property editor of the NZ Herald

Telecom out of one building as staff cut

The Telecom headquarters on Victoria St, Auckland
The Telecom headquarters on Victoria St, Auckland

Big staff reductions have prompted Telecom to leave one of its four buildings at its headquarters on Victoria St, Auckland.

Jim Robb of Telecom property projects said the business no longer needed four towers in the campus-style property.

"You will no doubt be aware that there has been staffing realignment at Telecom. We are now in the position where we can operate from three of the four towers so Telecom's about to advertise one complete tower of about 6500sq m for sub-lease or assignment," Robb said.

Between 930 to 1230 staff are being shed from Telecom.

The four towers were developed by Manson TCLM, then leased to Telecom on a long-term basis.

The buildings' sale was said to be the biggest commercial property deal of 2012, around $280 million sold by Mansons TCLM to parties represented by German private island broker Farhad Vladi who was involved with a syndicate of buyers.

In late 2011, Telecom shifted about 2650 staff onto the site from various properties around the city.

Robb said at the time that 150 people were being moved every two days, leaving five sites and 10 leases around Auckland for Telecom Place, the 2.8ha four-building campus spanning Victoria St West, Dock St and Hardinge St.

- NZ Herald

© Copyright 2015, NZME. Publishing Limited

Assembled by: (static) on production bpcf04 at 25 May 2015 03:36:56 Processing Time: 434ms