Media company NZME (formerly APN NZ), which publishes the New Zealand Herald, is moving from its long standing headquarters on the corner of Wyndham and Albert streets in Auckland's CBD, to a new office building nearing completion around the corner at 151 Victoria St West.
According to Bayleys Real Estate which brokered the deal, NZME will relocate The NZ Herald, The Radio Network and its digital operations into what is described as "one compact business environment" spread over three floors of the new building.
The new building is being developed by Mansons TCLM which also owns NZME's existing premises on Albert St, which now seem likely to be redeveloped.
NZME is expected to begin relocating to the new building in November and has taken a 12 year lease on 8300 square metres of space on levels 1-3 and will also take half of the building's 169 basement car parks.
Bayleys leasing agent Paul Hain who acted for Mansons in the negotiations, said it was the biggest office lease signed in Auckland since Fonterra committed to its new premises in Fanshawe St.
The new Victoria St building is located just up the road from Spark's (formerly Telecom) headquarters complex which Mansons also developed.
Mansons undertook the development of the new Victoria St building on a speculative basis without substantial pre-commitment from tenants.
The company purchased the Albert St building occupied by NZME for around $45 million last year.
APN had sold the site in 2001 but continued to occupy it as a tenant.
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