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.

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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.


44 The Terrace

44 The Terrace
Thorndon Quay
Wellington 6011

Get directions

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.




Office retail

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our asset manager

To speak to our Asset Manager, please contact:

Kane Goulden
Commercial Asset Manager

+64 9 359 4039
+64 21 375 164

lease with us

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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