Putting the Lens on the Office Sector
As organisations return to their workplaces, will this be goodbye to the workplaces of old and hello to a new normal of re-imagined workplace spaces and protocols? Generator GM John Moffett examines.
City centre specialists Precinct Properties has announced it will open the first Wellington Generator site following the successful purchase of the Dunbar Sloane building in the Capital’s city centre.
This premise will showcase the full Generator experience comprising of private offices, coworking spaces, event spaces and a full hospitality offering. Generator is known for its collaborative community, character-filled work and event spaces and innovative thinking.
Precinct Properties Chief Executive, Scott Pritchard, said he is very pleased to be building Generator’s portfolio outside Auckland and bringing the well-known flexible workspace brand to Wellington.
“It is evident that shared workspaces are becoming an increasingly popular option for businesses throughout the country. As one of the largest commercial property investors in Wellington the member feedback we have been receiving is that a Wellington Generator addition would be well received.
“Having owned Generator for a year now, we believe it is the right time to respond to the increased demand for flexible workspace in Wellington and invest in its underutilised shared workspace market,” says Pritchard.
Centrally located at 30 Waring Taylor Street, the Dunbar Sloane building is at the nexus of the parliamentary precinct and the Lambton Quay shopping district, making it the ideal location for both corporate and government occupiers.
The five-storey character building in the heart of Wellington will be fully redeveloped and refurbished. During the refurbishment the building will be seismically strengthened to 100 percent of the National Building Standard.
The total project cost is anticipated to be $25 million and will be ready for occupancy from mid-2021.
“The high occupancy levels Precinct have achieved across our portfolio reflects the strong demand for city centre office space in the markets we are invested in, Auckland and Wellington. We hope that Wellington is excited for what’s to come with Generator and businesses take advantage of the space we are creating,” adds Pritchard.
“We’re confident launching Generator into Wellington will provide real flexibility for both corporate and government occupiers in a tightly held office space market.”