Majestic Centre gets royal salute from keen tenants

The Majestic Centre in Wellington coming to the end of a major restoration.

Major renovations being undertaken to restore the Majestic Centre, Wellington's tallest building and landmark office tower, to its former glory have already had attracted high profile tenants with the building almost fully leased.

"With the strengthening process nearing completion, major office occupiers are acting fast to secure their space in this premium-grade building at 100 Willis Street," says Stu Turnbull, JLL's office leasing specialist.

He says the NZ Transport Agency has committed to a 12 year lease term in the 116 metre high, 29-storey building owned by Kiwi Property, New Zealand's largest listed property company..

JLL brokered the deal with NZTA which is earmarked to occupy Levels 5 and 6.

In addition to the NZTA deal, JLL has introduced over 6000sqm of space to a number of other corporate occupiers in the Majestic Centre including, most recently, Summerset and Opus International Consultants Limited.

Several other well-known organisations that add to the centre's strong tenant profile include Ernst & Young, NZ Trade and Enterprise, Airways Corporation and The Earthquake Commission.

Turnbull says he succeeded in meeting NZTA's space requirements after a 12 month search to identify the most suitable premises before the agency committed to the Majestic Centre.

NZTA will relocate its headquarters to the new premises in January 2016 - moving from the Co-operative Bank Building in Balance St, Lambton Quay

Turnbull says Kiwi Property's commitment to strengthen the building to a target of 100 per cent of New Building Standard (NBS) has paid off.

"The building is already about 95 per cent committed, with many new tenants attracted to its future seismic strength along with its strategic CBD location and modern refurbishments.

We are expecting to see more significant tenants looking for tenure".

Andrew Fullerton-Smith, office leasing agent at JLL, says the Majestic Centre's restoration is in line with a demand from tenants looking to secure better quality premises in the city.

"With Wellington's prime end of the office market predicted to remain strong over the next 12 months, we are seeing a new round of leasing activity," Fullerton-Smith says.

Included in the Majestic Centre's makeover are new shower and bike storage facilities in the basement, refurbished contemporary bathroom facilities on each floor, redecorated base build finishes and a new cafe in the lobby.