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.
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.
The Ministry of Social Development will begin an 18-year lease in August 2016 over 100% of the office accommodation.
Our development works will provide for expanded, efficient floorplates of over 1,800 sqm for the lower levels.
Easy walking distance to Wellington's Beehive building, the core of the parliamentary district.
|Date acquired (constructed 1968)||Apr-04|
|Net lettable area (sqm)||24,564|
|Typical floorplate (sqm)||Upper 1,100 / Lower 1,800|
|FY16 net rental income ($m)¹||-0.7|
|Weighted average lease term (years)||17.7|
|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
The Aurora CentreGet 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.
Our Asset Manager
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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