44 The Terrace
Well located within the Wellington Parliamentary sector, 44 The Terrace provides 10,000 sqm of efficient office space. Ten floors are leased to Government tenants on long-term leases.
Situated a stone's throw from New Zealand's parliament, 44 The Terrace has long been supported by government occupiers and their service providers. It offers 10,000 sqm of efficient office space over 12 levels.
A seat near parliament
In 2015, we struck three new 12-year lease agreements with Crown tenants over 80% of the building's office area, underpinning a $12.6 million progressive refurbishment of the building, which is due for completion in September 2016.
44 The Terrace has been awarded a 4.5-star Excellent Energy rating by NABERSNZ.
|Date acquired (constructed 1987)||Sep-04|
|Net lettable area (sqm)||10,330|
|Typical floorplate (sqm)||800|
|FY16 net rental income ($m)¹||1.9|
|Weighted average lease term (years)||9.7|
|Capitalisation rate (%)¹||7.25|
|10-year internal rate of return (%)¹||7.98|
|¹ As at 31 March 2016|
Statistics as at 30 September 2016 unless otherwise stated
44 The TerraceGet directions
Who's at 44 The Terrace?
Located within easy walking distance to New Zealand’s parliament, 44 The Terrace has long been a mainstay for government tenants and its associated service providers including Commerce Commission, Tertiary Education Commission, Energy Efficiency and Conservation Authority.
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We're passionate about providing exceptional spaces for businesses to flourish. If you are looking for great office space at 44 The Terrace, contact our leasing team today.Contact us