By Christine Nikiel
Friday 7th June 2002 |
Text too small? |
The legal and accounting services firm announced yesterday its new offices would be a five-level purpose-built building at 18 Viaduct Harbour Ave, to be developed by Newcrest Holdings.
The building will have 8000sq m of net lettable space and construction is scheduled to begin in September. The site is owned by Viaduct Harbour Holdings which holds a ground lease on the land.
The decision comes after months of speculation over which site the firm would choose - possibilities included the Viaduct's Projex site, Trans Tasman Properties' 28 Shortland St and Manson Developments' Northern Roller Mills site.
Meanwhile, industry experts asked whether the Viaduct was too far from the CBD for firms with clients in the city.
One said the area may be "Symonds St all over again," suggesting the Viaduct may suffer the same fate as that area, which became popular during the 1980s only to lose tenants to buildings closer to the CBD.
Others suggested the move of a top accounting and legal firm cemented the future of the Viaduct.
The University of Auckland has now taken up much of the space on Symonds St.
KPMG's move means Waltus Prime Properties investors will want to see the syndicate's next strategy for the Waltus-owned and soon-to-be empty KPMG Centre.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes