New Quay Tower lease leads AMP NZ Office Trust transactionsDecember 2, 2003 AMP NZ Office Trust (ANZO) has announced five new leases in its Auckland portfolio, including significant new tenants in Quay Tower and the ANZ Centre. Executive manager Rob Lang said both the quantity of space leased and the rentals achieved are ahead of projections in ANZO’s business plan. “Since the beginning of the new financial year in July, ANZO has leased more than 10586 sqm of space in the Auckland portfolio and some of those deals have been negotiated in a very short space of time. As space gets tighter at the premium end of the market and the options diminish, tenants are willing to pay more to secure the location they want.” Intellectual property lawyers and patent attorneys A J Park have taken a 15-year lease for 1900 sqm – almost two full floors – on levels 13 and 14 of Quay Tower, lifting occupancy in the building to 96.4 percent. Just 900 sqm remains available on level 5. A J Park is relocating from BNZ Tower in Queen St. A J Park’s chief executive John Lamb says the choice of the new premises was influenced by its easy accessibility for clients and staff. “The premium location and facilities are a good fit with A J Park’s leadership position in the IP market. A J Park expects its current rate of growth to continue and the new lease allows the firm to increase staff resources to meet market demand without serious space constraints.” ANZO’s Mr Lang said AJ Park’s decision was an endorsement for the $2.7 million project to reposition Quay Tower and to maximise the linkages with the adjoining PricewaterhouseCoopers Tower. The two buildings share a corporate health club and childcare centre, and Quay Tower has also benefited from an exterior repaint, construction of a new canopy, refurbishment of lift cars and replacement of access control and building management systems. Meanwhile, Vero Liability Insurance Limited (formerly Royal & SunAlliance) has leased 969 sqm on level 32 of the ANZ Centre for nine years, setting a new benchmark rent for the building. In IAG House, major tenant IAG New Zealand Limited has expanded on to another full floor of 763 sqm. The lease term, aligned to the remainder of IAG’s leases in the building, is 5.75 years. Existing tenants International SOS and Greymouth Petroleum have also been retained (International SOS: 350 sqm for six years; Greymouth Petroleum: 156 sqm for four years). “In the current financial year, leases covering 10417 sqm were due to expire in IAG House,” said Mr Lang. “In less than five months, we have dealt with all but 2700 sqm.” ANZO’s Wellington properties are 100 percent occupied. About ANZOANZO is a unit trust listed on the New Zealand Exchange which owns seven of New Zealand’s premium office buildings with a total value of more than $577 million. Media enquiries: |