PricewaterhouseCoopers renews lease early
PricewaterhouseCoppers' need for more space in the tower it has naming rights to has prompted it to renew its lease several years early.
PricewaterhouseCoppers' need for more space in the tower it has naming rights to has prompted it to renew its lease several years early.
AMP NZ Office Limited (ANZO) has announced the retention of the lucrative customer, after a nine-year lease was signed.
ANZO chief executive Scott Pritchard said PricewaterhouseCoopers (PwC) will retain naming rights and has taken an additional level of the Auckland PricewaterhouseCoopers Tower, previously occupied by CB Richard Ellis before a move to Queen Street last year.
Mr Pritchard said the PwC lease would lift the weighted average lease term of the PricewaterhouseCoopers Tower by 2.6 years to 4.5 years as at 30 June 2011.
PwC anchored the original development and was closely involved with its design when it was being planned by ANZO in 2000.
PwC chief executive Bruce Hassall said the tower continues to provide a high quality environment in a landmark location.
Mr Pitchard said in light of PWC’s need for more space a leasing transaction took place for the entire space they occupy, despite the lease not being due for renewal.
“The rent that we set with PWC is inline with the market and represent that they’ve made a pretty big commitment to the builiding for the next nine years,” he said.
“We are really pleased, it’s further showing that the new board and management team at ANZO are really focused on relationships with the people that occupy buildings.
“Large occupiers like PwC and ANZ, who we completed a transaction with a few months ago, are customers that we want to stay very close to.”
Nicola Williams
Mon, 08 Aug 2011
Mon, 08 Aug 2011
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PricewaterhouseCoopers renews lease early
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