Start-up businesses given new leases

Artist's impressions of the Lysaght Building.

Auckland Transport properties in Devonport and Eden Terrace are being leased to start-up and innovation businesses.

Brett O'Riley, chief executive of Auckland Tourism, Events and Economic Development, said a number of tenants had already signed lease agreements.

ATEED was linking up the businesses to lease Auckland Transport properties, he said.

The upstairs commercial areas of the Devonport Ferry Terminal have been rented to a number of start-up or early-stage companies which O'Riley said had been based in Devonport but were looking for new premises to work more closely with other businesses and to expand.

"It's great we've been able to keep these businesses in the local community rather than them having to leave," he said.

The deals have been struck with Auckland Transport, he said, and the businesses are now moving in.

Properties in Mt Eden have been purchased by Auckland Transport for the $2.5 billion City Rail Link and they will also be leased to businesses until they are needed for the big rail job, he said.

The properties there have been labelled the Uptown Innovation Hub, based in the commercial district. The properties around the existing Mt Eden train station are leased on short-term tenancies.

In the permanent innovation precinct at Wynyard Quarter -- known as GridAKL -- the first building opened in early December. The Lysaght Building is on the corner of Halsey St and Pakenham St. Fifteen start-up businesses are in that building, O'Riley said. They are paying commercial rents, he said.

Work also started this month on the first new GridAKL building in the Wynyard Quarter Innovation Precinct. A 8500sq m building being developed by Precinct Properties is expected to open by mid-2017.