44 The Terrace
44 The Terrace is well located within the Wellington parliamentary sector and provides 10,000 sqm of efficient office space over 12 levels. All office floors are leased by government tenants mostly on long-term leases. A comprehensive refurbishment and seismic strengthening project completed
in 2017.
key features
a seat near parliament
situated a stone's throw from New Zealand's parliament, 44 The Terrace has long been supported by government occupiers. and their service providers.
energy efficient
44 The Terrace has been awarded a 4.5-star Excellent Energy rating by NABERSNZ.
key facts
| ownership interest (%) | 100 |
|---|---|
| building grade | b-grade |
| date acquired (constructed 1987) | Sep-04 |
| last refurbished/redeveloped | 2015-2017 |
| net lettable area (sqm) | 10,325 |
| typical floorplate (sqm) | 800 |
| carparks (no.) | - |
| net operating income ($m) | 3.2 |
| occupancy (%) | 100.0 |
| weighted average lease expiry (years) | 7.7 |
| valuation ($m) | 53.5 |
| capitalisation rate (%) | 6.50 |
| 10-year internal rate of return (%) | 8.1 |
Unless otherwise stated, all statistics are for the six months ended/as at 31 March 2019.
who's at 44 The Terrace?
Located within easy walking distance to New Zealand’s parliament, 44 The Terrace has long been a mainstay for government tenants and its associated service providers including Commerce Commission, Tertiary Education Commission, Energy Efficiency and Conservation Authority.
90%
Government
10%
Office retail
our asset manager
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We're passionate about providing exceptional spaces for businesses to flourish. We do not have office space available at 44 The Terrace. If you are looking for great office space at any of our other properties, contact our leasing team today.
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