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Home / Property

$2m makeover for Jones' High St tower

Anne Gibson
By Anne Gibson
Property Editor·NZ Herald·
19 Aug, 2008 05:00 PM2 mins to read

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The Southern Cross building's tenants include accountants, barristers and solicitors. Photo / Richard Robinson

The Southern Cross building's tenants include accountants, barristers and solicitors. Photo / Richard Robinson

KEY POINTS:

Sir Bob Jones' business Robt Jones Holdings (RJH) is refurbishing the Southern Cross building in Auckland's CBD.

The 13-level tower on the corner of Victoria and High Street is divided into many small tenancies and now the Wellington-headquartered business is aiming to attract more tenants.

Greg Loveridge, RJH's
director and Auckland general manager, said the building was unusual because it was in a great position in Auckland's CBD but offered relatively cost-effective offices.

He cited the example that a 40sq m area could be leased for as little as $12,000 a year.

RJH bought the building last September from Southern Cross and is spending about $2 million on its refurbishment, Loveridge says.

The aim was to provide quality small suites from 50sq m to 200sq m, the company said.

Office tenants in the building include the Southern Cross Building Society, Bendall & Cant chartered accountants and various solicitors and barristers. RJH has a number of offices for rent in the building: space on levels four, six, nine and 11.

RJH's Auckland portfolio is worth around $130 million and includes:

* Qantas House at 191 Queen Street where failed apartment firm Blue Chip folded owing rent;

* Takapuna Finance Centre at 159 Hurstmere Road in Takapuna,

* The Telco Building on the corner of Federal and Kingston Streets

* Federal House at 60 Federal Street.

RJH's Wellington portfolio includes:

* Axon House, corner of Jervois Quay and Willeston Street.

* City Chambers, corner of Featherston and Johnston Streets.

* Featherston House, corner of Featherston and Waring Taylor Streets.

* Gen-i House, corner of Featherston and Brandon Streets.

* Lambton House at 152-172 Lambton Quay.

* Sybase House, corner of Lambton Quay and Ballance Streets.

* Solnet House, corner of The Terrace and Aurora Terrace.Anne Gibson

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