Portfolio overview

The Aurora Centre

As a mainstay accommodation option for the New Zealand Government, The Aurora Centre at 56 The Terrace has undergone a comprehensive redevelopment ahead of a new 18-year Crown lease which commenced on 2 August 2016.

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Key features

We're redeveloping and refurbishing The Aurora Centre, modernising it to an A-grade standard, with more than 24,000 sqm of quality office accommodation in the heart of Wellington's parliamentary precinct.

100% leased

The Ministry of Social Development will begin an 18-year lease in August 2016 over 100% of the office accommodation.

Bigger floorplates

Our development works will provide for expanded, efficient floorplates of over 1,800 sqm for the lower levels.

Great location

Easy walking distance to Wellington's Beehive building, the core of the parliamentary district.

Key facts

Building grade A-grade
Date acquired (constructed 1968) Apr-04
Last refurbished 2014-2016
Net lettable area (sqm) 24,564
Typical floorplate (sqm) Upper 1,100 / Lower 1,800
Carparks (no.) 310
FY16 net rental income ($m)¹ -0.7
Occupancy (%) 100.0
Weighted average lease term (years) 17.7
Valuation ($m) 130.7
Capitalisation rate (%)¹ 6.75
10-year internal rate of return (%)¹ 7.76
¹ As at 31 March 2016

Statistics as at 30 September 2016 unless otherwise stated

Location

The Aurora Centre

56 The Terrace
Thorndon Quay
Wellington 6011

Get directions

Who's at The Aurora Centre?

The Aurora Centre is currently undergoing a major redevelopment and is now vacant. The building will be 100% occupied by the Ministry of Social Development on an 18-year lease once our project is complete in 2016.

98%

Government

2%

Retail

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Our Asset Manager

To speak to our Asset Manager, please contact:

Warwick Shaw
Commercial Asset Manager

+64 9 359 4045
+64 21 633 967

Lease with us

We do not have office space available at 56 The Terrace. If you are looking for great office space at any of our other properties, contact our leasing team today.

Contact us