News
Bell Gully advises on first major new Britomart development
Bell Gully's commercial property specialists have advised on the first major new development for the Britomart precinct in Auckland.
Westpac has signed a build-and-lease agreement with the Britomart Group for the development of a new office complex to locate operations from several existing North Island sites.
The $100 million deal will see the construction of a new building, and the expansion of the existing heritage Charter House building at Britomart, to be linked by pedestrian airbridges. The consolidation to the Britomart complex of 1500 Westpac staff currently in office premises in Wellington, Hamilton, Royal Oak and elsewhere in the Auckland CBD is scheduled to take place in 2009.
Developer Bluewater is set to start construction work shortly.
Bell Gully partner Mark Crosbie and senior associate Andrew Petersen have advised Bluewater on the development agreement for the Westpac project, while partner Jane Holland and senior associate Susan Bright have advised Bluewater on leasing arrangements.
Jane Holland says both the significant Westpac deal and the wider Britomart development have been invigorating projects for the team to work on.
"We've also been involved in advising on other aspects of the redevelopment including the leases for the former Central Post Office site, one of the first heritage buildings to be renovated as part of the project. It has been exciting to see that go from lying abandoned to coming to life again as a key feature of downtown Auckland," says Jane.
"Britomart is the largest heritage restoration project to be undertaken in New Zealand and the Westpac project, which involves an historic building, as well as new premises, will be a further example of how past and present can be successfully and sustainably melded."
For more information, please contact:
Jane Holland
Partner
