KEY POINTS:
Listed landlord AMP NZ Office Trust plans to spend $77 million expanding and renovating a large Auckland office block which it bought earlier this year.
The 13-level building on Queen Elizabeth II Square would be upgraded soon and an extra four levels added, said Rob Lang, the trust's executive director.
The trust is yet to get council permission, although the urban design panel has endorsed the changes, Lang said. In March, the trust paid $33 million for the property, previously occupied by Air New Zealand.
Lang was not phased by speculation that Westfield NZ was planning a large office tower above its Downtown shopping centre next door - or that the centre owner was luring a major tenant from the trust's ANZ Centre on Albert St. "There's talk about that, but nothing firm in the market," he said.
Fletcher Construction has the contract to renovate 21 Queen St, which the trust hopes will get a Green Star rating for environmental sustainability.
The make-over will reduce energy consumption and lower the block's greenhouse gas emissions. Recycling will be encouraged and bike stands are being installed for tenants.
The new glass cladding will reduce the electrical lighting needed. Low-flow water systems are to be installed and rainwater collected for use in the building. The marketing brochure said Australian studies of Green Star-rated projects suggested that buildings with such environmental features resulted in:
* greenhouse gas reductions equivalent to removing 300 cars from the road
* a 60 per cent reduction in water use
* reductions in construction waste of 69 per cent.
Construction is planned to start later this year with tenants moving in in 2009.
THE PLAN
* A big makeover has been designed for 21 Queen St. Four extra floors and a new glass skin are planned.
* The building will become more energy-efficient.
* Rainwater will be harvested for use in the block.
