44 The Terrace
Well located within the Wellington parliamentary sector, 44 The Terrace 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 was 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 ($m) | 1.6 |
| occupancy (%) | 100.0 |
| weighted average lease term (years) | 8.0 |
| adopted value ($m) | 49.8 |
| capitalisation rate (%)* | 6.63 |
| 10-year internal rate of return (%)* | 8.1 |
| *As at 31 March 2018 as assets were not independently valued at 30 September 2018. |
Unless otherwise stated, all statistics are for the six months ended/as at 30 September 2018.
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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