Tower Property Fund has announced a major new commercial office leasing to Goodman Fielder New Zealand which will occupy five office floors within the former Deloitte Building at 8 Nelson St in central Auckland.
The lease area of the building, which will be rebranded and serve as Goodman Fielder's head
office, is 5800sq m and 93 car parks. The new lease begins in July for a minimum seven-year term with further options.
Goodman Fielder will consolidate its existing Auckland business offices into the site and establish a product development culinary centre within the building.
Brent Buchanan, head of property at Tower Investments, and manager of the Tower Property Fund, says he believes the leasing contract signed between the Tower Property Fund and Goodman Fielder is one of New Zealand's largest recent office relocations.
"The Tower Property Fund will invest $2.5 million in upgrading the building over the next six months," he says.
"Works will begin immediately, with the bathrooms, lifts, and foyer to be refurbished, along with the installation of more energy efficient building services, and various air-conditioning upgrades," said Buchanan.
"The fund has two remaining floors in the building at 1100sq m each and we are receiving solid inquiry on those. While the Auckland CBD office markets remain challenging for many, this will see our investment portfolio more than 95 per cent occupied for a number of years to come," he says.
Goodman Fielder was advised by Caroline Paulin, director of Tenant Representation at Jones Lang LaSalle.
