Reserve Bank of New Zealand – Leasing AdvisoryAuckland CBD

Project Details

  • Project Name: Reserve Bank of New Zealand – Leasing Advisory
  • Client: Reserve Bank of New Zealand
  • Location: Auckland CBD
  • Completed: February 2020
  • Key Veros Team Members: Morgan Jones - Director
    Gareth Strawbridge - Senior Property Advisor
  • Services Provided: Property Advisory

Project Brief

With the objective of strengthening resilience and futureproofing business operations, RBNZ were seeking to expand their office space in Auckland, increasing their larger presence whilst maintaining value for money. Veros were engaged to provide leasing advice and assist RBNZ with negotiating a new lease within the Auckland CBD, as well as negotiate the rent reviews for existing tenancies in the same building.

Overview

RBNZ occupies a part level of 205 Queen Street in Auckland CBD. This premises had previously been used as a disaster recovery centre as most of their business had historically been conducted in Wellington.
Changes in the banking industry resulted in RBNZ requiring a larger presence in Auckland, and therefore their existing footprint had rapidly become inadequate. Veros was appointed to negotiate directly with the landlord’s representatives for a new lease over a whole floor within their existing building.

In a rapidly changing environment, and with the inevitability of outgrowing the new space, a second new level was added to the scope. The aim of this was to consolidate their premises onto two consecutive levels, whilst relinquishing their leases on the lower level in the building.

Veros negotiated on behalf of RBNZ and secured fantastic outcome, drawing on their years of commercial experience in working with tenants and delivering commercial outcomes.

Outcomes

Our independent and commercial advisory services resulted in a satisfied client who has successfully secured their future office requirements, on well-balanced and market-based terms.