National co-working space provider BizDojo has taken a full floor tenancy within No.1 Sylvia Park, the new office tower under construction at Sylvia Park shopping centre.
Chris Gudgeon, chief executive of Kiwi Property, says No.1 Sylvia Park is now 50 per cent leased by income, with BizDojo joining anchor tenant IAG in the office tower.
"A successful leasing campaign has led to 'The Grove' dining precinct being 100 per cent leased, and No.1 Sylvia Park is on track to be delivered in the first half of 2018.
"BizDojo is the only co-working operator with sites throughout Auckland, Wellington and Christchurch, and one planned for Queenstown; its expansion to No.1 Sylvia Park serves to highlight both the rise in popularity of shared working arrangements and the economic draw of Sylvia Park."
"Co-working is a growing trend world-wide, and is quickly becoming an important sector in New Zealand's commercial office market," he says.
"Co-working supports a new way of working for small and growing businesses, allowing members to use the facilities from several hours a week to full-time, with the ability to scale their operations from a single casual desk to a permanent studio offering."
He says Sylvia Park, "continues to shine as the star in Kiwi Property's retail portfolio". The centre now attracts almost 13 million customers per year and generates over $500m in annual sales.
In addition to the $80m office tower, Kiwi Property has in the past year delivered new tenancies for international fashion giants H&M and Zara, and has committed:
• $9m to refresh and extend the centre's outdoor dining lane, The Grove, and;
•$36m to construct a new central carpark to provide 600 car spaces.
The company is progressing plans for a potential $200m Galleria retail expansion, featuring new international retailers, a department store and an expanded food offering.
"As Sylvia Park continues to grow, so does the need for services supporting our retailers and the local community, which is why BizDojo is a natural fit for No.1 Sylvia Park," says Gudgeon.
"The arrival of their co-working offering also helps to progress our world-class town centre vision for the Sylvia Park site, providing a mix of complementary businesses and spaces where people want to be."