Smales Farm in Takapuna says a decision by ASB bank to relocate 172 employees to its new B:Hive building in August constitutes "one of the country's largest co-working property deals".

Paul Gunn, Smales Farm CEO, says ASB will occupy 16 per cent of the available office space within the B:Hive which is billed as "New Zealand's largest and smartest co-working building".

Gunn says the move is a sign that a "co-working revolution" is taking place in Auckland with new working environments like the B:Hive delivering value to businesses.

"The B:Hive's cutting edge design, amenity and flexible leasing model have proven attractive to ASB," he says.

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"This deal also demonstrates the appeal that the B:Hive and other shared-working properties have for businesses of all shapes, sizes and categories.

"Given the 'turn key' nature of the B:Hive offering, we were able to provide ASB with new premises but without the significant associated expenditure that comes with new fit-outs and renovation."

In a Smales Farm news release, Matthew Rowbotham, ASB general manager property, is quoted as saying the accessibility of the location, and sustainability principles of the building were appealing.

"It's important that our people can work in an environment where they're empowered to thrive."

The B:Hive opened in December last year amid claims that it offered "world-first innovation and ingenuity" through its physical design and layout along with "unprecedented flexibility for all sorts of businesses, ranging from small or large corporates to dedicated desks".

The building, designed by BVN and Jasmax, is an 11,000sq m, five-level, premium

quality office building that emphasises "employee wellbeing and urban design" as a priority.

Each floor includes fully equipped kitchens and breakout spaces, 'chill out' zones, meeting rooms, video conferencing and concierge services.

The ground floor is home to a range of boutique eateries as well as facilities for events and conferences.

Gunn says the B:Hive can accommodate businesses ranging from one person through to 250 or more employees; with flexible office space that can be configured to suit a variety of business requirements.

The B:Hive is the fifth building to be built within Smales Farm, which has over 4000

business residents employed on site and is home to major corporate tenants including

Sovereign, Air New Zealand and Vodafone.

The office park is 10 minutes from Auckland CBD by bus and is close to Takapuna CBD's business and retail centre.