PricewaterhouseCoopers Tower named New Zealand’s best office buildingJune 10, 2003 The PricewaterhouseCoopers Tower on Auckland’s waterfront – owned by the AMP NZ Office Trust (ANZO) – was named New Zealand’s top commercial office building at the annual Rider Hunt/Property Council awards for 2003. The awards are based on user satisfaction, functionality, architectural features, investment performance and handling of planning issues. The judging panel commented: “This is the first major development undertaken by ANZO since its listing in 1997 and has been subject to stringent financial and investment return pre-requisites, including the effective management of development risk. The development produced a very respectable profit and return on cost. “Careful research and attention to detail characterise this development. Pre-commitment from two major tenants, PricewaterhouseCoopers and Buddle Findlay, was achieved as a pre-requisite to development, thus minimising risk. “The development has an emphasis on tenant and user satisfaction, efficiency and ease of maintenance. High-quality services are designed for a population density of 12 sqm per person and the building incorporates state-of-the-art building systems and security systems, including the latest Miconic 10 lift system. “Tenant satisfaction with the building is known to be high, with favourable comments from major tenants having been received,” the judges concluded. ANZO executive manager Robert Lang said the PwC Tower was completed in March 2002, about one month ahead of schedule, and was officially opened by Prime Minister Helen Clark in June 2002. The project earned a development profit margin of more than $22 million for ANZO’s investors. Located on Auckland’s Quay St, the 32-level tower has 31,000 sqm of office space, along with 358 carparks and 11 retail tenancies, and also features a hotel-style lobby. Its triangular shape, an internationally-proven concept, maximises natural light and the outlook to the Waitemata Harbour and Hauraki Gulf, while the building services are confined to a central core. The floor plates are the largest and most efficient in New Zealand, and the building set a new international benchmark for design efficiency within the AMP Henderson group, with a higher ratio of net to gross area than any other building in the worldwide portfolio of properties managed by the company. Foundation tenants PricewaterhouseCoopers and Buddle Findlay have been joined by Westpac, Jones Lang LaSalle and the Australian Consulate. The PwC Tower is currently 95 percent occupied, and the weighted average lease term is 8.56 years. Mr Lang PwC Tower project was timed to meet the demands of a group of leading tenants whose leases were nearing expiry, and who were willing to pay more for efficient, premium-quality space in a waterfront location. ANZO has since leveraged off the tower’s proximity to another ANZO-owned property, Quay Tower, by offering a corporate gymnasium and a childcare centre, both with preferential treatment for the 3500 people who work in the two buildings. About ANZOANZO is a unit trust listed on the New Zealand Stock Exchange which invests predominantly in prime CBD office properties in major New Zealand cities. It owns seven of New Zealand’s premium office buildings with a total value of more than $555 million – Auckland’s PwC Tower, ANZ Centre, NZI House and Quay Tower; and Wellington’s HP Tower, 125 The Terrace and No. 1 The Terrace. Media inquiries: |